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US Airways Tells Court Restructuring Milestones Met So Far
ALEXANDRIA, Va. -(Dow Jones)- US Airways Group Inc. Thursday told the bankruptcy court handling its Chapter 11 case that it has met its restructuring milestones expected so far and that it still intends to file a reorganization plan by the end of the year.
Since filing for Chapter 11 on Aug. 11, the company''s performance and efficiency statistics have been among its best in relation to similar time periods from years past, attorney Jack Butler of Skadden Arps Slate Meagher & Flom told U.S. Bankruptcy Judge Stephen Mitc**** during a hearing in Alexandria, Va.
Butler said the company''s debtor-in-possession loan is finalized and signed, and viewed a loan syndication meeting Wednesday in New York as productive.
US Airways also is continuing to work with the two unions that haven''t yet reached restructuring agreements with the company.
ALEXANDRIA, Va. -(Dow Jones)- US Airways Group Inc. Thursday told the bankruptcy court handling its Chapter 11 case that it has met its restructuring milestones expected so far and that it still intends to file a reorganization plan by the end of the year.
Since filing for Chapter 11 on Aug. 11, the company''s performance and efficiency statistics have been among its best in relation to similar time periods from years past, attorney Jack Butler of Skadden Arps Slate Meagher & Flom told U.S. Bankruptcy Judge Stephen Mitc**** during a hearing in Alexandria, Va.
Butler said the company''s debtor-in-possession loan is finalized and signed, and viewed a loan syndication meeting Wednesday in New York as productive.
US Airways also is continuing to work with the two unions that haven''t yet reached restructuring agreements with the company.
