Air Transport World

US Airways to leave bankruptcy this month. (News Briefs).

US Airways expects to complete its bankruptcy reorganization by March 31 after the US Air Transportation Stabilization Board reaffirmed its conditional approval of the carrier's application for a $900 million federal loan guarantee that is crucial to securing exit financing of $l billion. ATSB will receive warrants for 10% of US Airways' reorganized equity as the price of the guarantee. Creditors are expected to approve the consensual reorganization plan in voting that concludes mid-month.

But US Airways has angered its pilots union by moving to terminate its underfunded defined benefit pension plan "after regulatory and legislative efforts to allow for a stretch-out of funding obligations. …

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