From the Hub on January 10:
ATSB Talks
US Airways is in discussion with the Air Transportation Stabilization Board (ATSB) to extend the company’s financing agreement, allowing it to use additional funds on a cash collateral basis to support continued daily operations.
USA Today, which today reported on the talks, said that the ATSB “is poised to extend an agreement with US Airways beyond Thursday’s scheduled expiration, allowing the airline to tap more of its dwindling cash to keep flying.â€
Mark Dayton, executive director of the ATSB, was quoted as saying, “We want to make sure we can get through the winter quarter,†adding that the ATSB is also focused on keeping the loan secured by ensuring US Airways maintains a certain cash balance.
“We continue to have productive discussions with the ATSB and we have kept them informed of the progress that we have made. We expect to hear back from the board in the coming days,†said Chris Chiames, senior vice president of Corporate Affairs. “Meanwhile, we will continue to focus on working with the IAM to secure ratification of three proposed labor agreements.â€
The bankruptcy court must approve any agreement between the airline and the ATSB.
ATSB Talks
US Airways is in discussion with the Air Transportation Stabilization Board (ATSB) to extend the company’s financing agreement, allowing it to use additional funds on a cash collateral basis to support continued daily operations.
USA Today, which today reported on the talks, said that the ATSB “is poised to extend an agreement with US Airways beyond Thursday’s scheduled expiration, allowing the airline to tap more of its dwindling cash to keep flying.â€
Mark Dayton, executive director of the ATSB, was quoted as saying, “We want to make sure we can get through the winter quarter,†adding that the ATSB is also focused on keeping the loan secured by ensuring US Airways maintains a certain cash balance.
“We continue to have productive discussions with the ATSB and we have kept them informed of the progress that we have made. We expect to hear back from the board in the coming days,†said Chris Chiames, senior vice president of Corporate Affairs. “Meanwhile, we will continue to focus on working with the IAM to secure ratification of three proposed labor agreements.â€
The bankruptcy court must approve any agreement between the airline and the ATSB.
