Air Transport World

US Airways Group.(North America report)(Air Transportation Stabilization Board)(Brief Article)

US Airways Group reached agreement with the Air Transportation Stabilization Board to amend the terms of its $1 billion federally guaranteed loan that funded its emergence from bankruptcy. As part of the revised agreement, it prepaid $250 million of the loan. In exchange, the requirement that the company show a profit in 2004 has been changed to "significantly narrow[ing] its losses ... and return[ing] to profitability in 2005." In addition, the amended agreement lifts "certain restrictions on [its] ability, to pursue asset sales."

US Airways also noted that for the second consecutive year, its auditor KPMG raised "substantial doubt about its ability to continue as a going concern. …

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