Us Airways Sells 10 Jets Stationed In Pittsburgh

[700UW]

Friday, June 17, 2005

US Airways agreed to sell 10 jet planes stationed in Pittsburgh for $48 million to Jet Partners of New York on Thursday. The deal should help US Airways right-size its aircraft fleet in order to combine it with that of pending merger partner, America West Airlines. The deal includes three spare jet engines. The bankrupt carrier asked for court approval of the proposed transaction yesterday. Two of the planes would be delivered on July 5, when Jet Partners would pay $7.8 million of the $48 million. Jet Partners President Joshua Tarnow could not be reached for comment.

 

[nycbusdriver]

"10 jet planes stationed in Pittsburgh"



I didn't realize that we "stationed" our airplanes in any particular place. Another clueless media report by someone who has a "little bit of knowledge."

 

[700UW]

Link to Article

 

[justaumechanic]

US Airways just keeps buring the furniture..

It would be interesting to see how much of that 48 million US will get.. The filing with the court states the money is being placed into a trust.. You have to figure the planes have lien's against them which will have to be satisfied.

 

[MarkMyWords]

Just another way to sensationalize an event to enrage the local Pittsburgh customer base.

 

[ringmaruf]

Anybody (BoeingBoy) have tail numbers?

 

[ringmaruf]

Never mind. I got them.

737-300s: 350, 385, 387, 389, 390, 560, 573
737-400s: 446, 447, 448

AFAIK, 350/560/573 all have mortgages that will need to be paid off.
I believe the other 7 planes are owned free-and-clear, but are ATSB collateral, so 90% of the proceeds (or something like that) will go toward paying off the ATSB loan--still not necessarily a bad thing. Losing more of the fleet, that's a bad thing.

Oh, and those were all 10 737s that US owns. The rest are all leased. Lots of Airbii and RJs are owned, but with mortgages. The only other planes US owns free-and-clear are 4 762s and a bunch of Dash 8s.

One last thing: 350 and 573 are the planes in everyone's favorite usairways.com livery. Those, I'm not sorry to see go.

 

[JayBrian]

Were these 10 aircraft part of the planned aircraft reductions?

 

[TechBoy]

I noticed on USAirways.com that they claim to have 270 mainline aircraft. Is that old information? Does anyone know the current fleet count?

 

[MarkMyWords]

We are still showing 270 airplanes in the system, but 2 A/C (736 and 585) have been retired and are parked in PIT. So it looks like there is currently 268 airplanes in the fleet.

 

[WorldTraveler]

ring,
so perhaps US is accelerating the removal of the 73s form the fleet when this transaction is coupled w/ the GE agreement? or how many leased 73s are not in the GE agreement?

 

[deltawatch]

Should read "US Airways executives agree to sell 10 jet planes for $48 million to Jet Partners of New York, so they can line there pockets before HP takes over"

U.S. Bankruptcy Court Judge Mitchell has ruled that the executive contracts containing $18 million for their retention bonus payments and golden parachute payments will not be allowed. He did allow, however, the part of the plan that provides $32 million for bonus retention payments for management salary plan employees and also the special, discretionary $5 million "slush fund" that the CEO can use to pay off individuals who might otherwise leave.

They had to get the money some how? :down:

 

[justaumechanic]

I would guess that 350 and 573 will get scrapped..

Jet Partners if I remember correctly is a junk dealer.. All of these aircraft will
probably get scrapped...

And US Airways own's nothing free and clear.. Any collateral they had belongs to the Feds.. That includes all the money in the bank and all the parts in the stock room.. The own nothing..

 

[USA320Pilot]

According to a briefing today at the ALPA MEC meeting, these 10 aircraft are in a previous announced fleet plan reduction. At the end of 2005 US Airways (pre-merger) will have 232 mainline aircraft, at the end of February 221 aircraft, and at the end of 2009 210 aircraft.

Regards,

USA320Pilot

 

[deltawatch]

and at the end of 2009 210 aircraft.

Regards,

USA320Pilot

[post="277628"][/post]​

So are you saying that 4 years from now US Airways and America West will still be operating separately???? Heck of a merger plan .....