Santorum blames union leaders for US Airways filing
Article Abstract:
US Airways Group Inc. filed for Chapter 11 bankruptcy protection, after it failed to reach the target of $800 millions in labor costs cuts from its union, part of which was required for it to avoid bankruptcy. The company expected a deal of $295 million in concessions from the Airline Pilots Association but four influential union leaders blocked the new cost cutting contract leading US Senate Rick Santorum to blame them for the filing.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2004
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Delta says bondholders reject changing terms of securities
Article Abstract:
The Delta Air Lines Inc. are facing many problems in order to avoid bankruptcy, one of which is the refusal from a group of bondholders to change the terms of their securities. The first step towards renegotiating the terms of securities included requesting the investors of about $1.5 billion of secured notes to agree to change the terms of their lending agreements to allow the airline to buy back and hold the notes.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2004
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US Airways aims to show improvement
Article Abstract:
The US Airways in Philadelphia could become bankrupt by late September 2004, if it could not show signs of improvement in terms of cutting down costs to its creditors. The creditors granted the airline new terms on a $1 billion loan in March 2004 that gave the airway time to reorganize its company in a better order.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 2004
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