US Airways is to delay the delivery of 54 Airbus aircraft as part of spending cuts over the next three years aimed at returning the struggling airline to profitability.
US Airways said the delivery of the planes, previously scheduled for between 2010 and 2012, would occur in ‘2013 and beyond’.
The deferral will reduce the company's aircraft capital expenditures over the next three years by approximately $2.5 billion, and pare obligations to Airbus and others by $132m in the near and medium term, the Arizona-based airline said in a statement.
US Airways said the aircraft deferrals would not ‘significantly’ alter the airline's capacity plans as aircraft originally scheduled to be replaced will be retained until the rescheduled new aircraft delivery dates.
US Airways said the moves were taken with key business partners to improve its near-term and future liquidity, estimating they would generate $150m by year end and $450m by the end of 2010.
In late October the airline said it would cut about 1,000 jobs during the first half of 2010 and reduce service to Europe to battle weak demand amid the global economic crisis.
Airbus, a division of the European aerospace giant EADS, intends to launch the A350 as a rival to Boeing's new 787 Dreamliner.
The two aircraft projects have encountered delays, with Airbus now planning to deliver its first A350 XWB in 2017, while the first delivery of the Boeing 787 is due in late 2010.
US Airways posted a net loss of $80m in the quarter ended September 30.
