Pilots union rep joins US Airways board
ARLINGTON, Va., Sept 26 (Reuters) - US Airways Group Inc. [UAWGQ.PK], which filed for bankruptcy protection earlier this year, said on Thursday that the chairman of its pilots union''s master executive council has joined the board of directors.
The sixth-largest U.S. carrier said Captain Chris Beebe, chairman of US Airways'' Air Line Pilots Association Master Executive Council, is the first of three representatives of the airline''s labor groups to be included on the board.
US Airways, based in Arlington, Virginia, is nearly $11 billion in debt but has said it expects to emerge from Chapter 11 protection from creditors in the first quarter of 2003.
It is seeking $1.3 billion in cost cuts annually to reorganize and receive final approval for a $900 million federal loan guarantee that will underpin 90 percent of $1 billion in private financing.
09/26/02 20:15 ET
ARLINGTON, Va., Sept 26 (Reuters) - US Airways Group Inc. [UAWGQ.PK], which filed for bankruptcy protection earlier this year, said on Thursday that the chairman of its pilots union''s master executive council has joined the board of directors.
The sixth-largest U.S. carrier said Captain Chris Beebe, chairman of US Airways'' Air Line Pilots Association Master Executive Council, is the first of three representatives of the airline''s labor groups to be included on the board.
US Airways, based in Arlington, Virginia, is nearly $11 billion in debt but has said it expects to emerge from Chapter 11 protection from creditors in the first quarter of 2003.
It is seeking $1.3 billion in cost cuts annually to reorganize and receive final approval for a $900 million federal loan guarantee that will underpin 90 percent of $1 billion in private financing.
09/26/02 20:15 ET