Acquiring Carrier

[Solidarity]

America West Treated as Acquiring Carrier for Accounting Purposes
First, the consolidated results mostly reflect America West Airlines’ results. Why? Although the merger was structured so that America West Holdings became a wholly owned subsidiary of US Airways Group, America West Holdings is treated as the acquiring company for accounting purposes.

Quote from the Company with the 3rd Q results

 

[barbeetantrums]

America West Treated as Acquiring Carrier for Accounting Purposes
First, the consolidated results mostly reflect America West Airlines’ results. Why? Although the merger was structured so that America West Holdings became a wholly owned subsidiary of US Airways Group, America West Holdings is treated as the acquiring company for accounting purposes.

Quote from the Company with the 3rd Q results

You'll still end up under IAM fleet service contract.

 

[Solidarity]

You'll still end up under IAM fleet service contract.

Do we?

 

[FWAAA]

Consistent with what I've posted for several weeks now; America West found some investors willing to help it purchase USAirways.

 

[757fixer]

Does it really matter?

 

[skyguy]

Does it really matter?

It certainly does if any of the unions could get an arbitrator to agree that America West is deemed the "acquiring carrier". Most of the consessionary contracts had snap-back clauses if there was a change in control of the airline.

 

[aerosmith]

The question for me is when will I get screwed out of my "lifetime flight privledges"?

 

[barbeetantrums]

Do we?

We do.

 

[N109UW]

US Airways had the financing to get out of BK when DP and BL were thinking of putting this together. We pretty much had our ducks in a row. Don't get me wrong, I am excited about the possibilities that we now have( presented to all of us. old and new, east and west). I look forward to getting all of us on the same page, so we an move forward and start kicking some competetive butt.

 

[traderjake]

Who was going to finance and how much?

 

[BoeingBoy]

Who was going to finance and how much?

$125 million DIP from Air Wisconsin, convertible to equity participation upon emergence. This was announced on Feburary 18,2005.

$125 million pledge of equity participation from Republic conditioned upon securing another $100 million (not counting Air Wisconsin's participation). This was announced on March 14, 2005.

At the time of the US/HP merger agreement announcement on May 19, 2005, not another dime had been secured. All the other investors that appeared were investing in the proposed merger.

It's probably also worth noting that the investors in the proposed merger apparently insisted that the Republic equity agreement not be consumated since it would have given a larger stake per dollar of investment than the later investors were getting. Most likely, the only thing that kept Air Wisconsin in the picture was that the first 2 installments of the DIP financing had changed hands - it was too late to back out.

Jim

 

[Twicebaked]

Who really cares!!!! We are ONE company now.............US Airways!!

 

[firstamendment]

Who really cares!!!! We are ONE company now.............US Airways!!

Yeah, this is a tired subject....oh soooooooooo tired! Get over it. Take it from the many US East employees who have been through mergers. The more you concentrate on that, the more you alienate your fellow coworkers and most importantly, the customer.

 

[UWCactus]

Yeah, this is a tired subject....oh soooooooooo tired! Get over it. Take it from the many US East employees who have been through mergers. The more you concentrate on that, the more you alienate your fellow coworkers and most importantly, the customer.

I aree with this 100%......it's done, who cares, lets move on.

 

[goodgirl37]

I aree with this 100%......it's done, who cares, lets move on.

I second that... move on