Does the RSA lease aircraft to US?


Aug 26, 2002
Lots of talk about the money RSA has and will put into US after the bankrupcy filing, I was wondering how many aircraft RSA owns that are leased to US. Since the desert is full of aircraft right now, it would seem strange that Mr. Bonner would want park RSA''s aircraft and stop receiving lease payments from US.
i think biffeman knows that answer..consider bronner for a moment.....he may lose monthly lease payments of 90,000 or so per a/c but he has an obligation to protect the RSA client monies first and for that reason would pull his 500 million and put it elsewhere taking less lumps and getting on with it in another area.
All I know is they hold some of the leases and debts on 737s and 767s. Do not have a specific #, ask Chip to call Chris Chiames he can get the answers needed.[BR]From the press release announcing RSA the the DIP and equity sponsorship.[BR][BR][BR]
[P class=bodytext][EM]"RSA has committed to a plan sponsor investment that is more than a 20 percent premium over the prior bid, has fully underwritten a replacement $500 million DIP facility, and has committed to restructure $340 million of aircraft debt obligations held by RSA in the Company's aircraft debt restructuring program. These actions demonstrate confidence in the restructuring initiatives we have successfully completed to date and the value of a reorganized US Airways operating with a sound business plan and competitive costs," said US Airways President and Chief Executive Officer David Siegel. "Having met with RSA CEO David Bronner, I am confident of his strong interest in our successful restructuring, [FONT style="BACKGROUND-COLOR: #ffff00"]and even more importantly, of his support for the labor-friendly approach that we are taking."[/FONT][/EM][BR]
[P class=bodytext][EM]RSA has a long history of airline industry investment. In discussions with US Airways management, Siegel said that RSA has indicated that its commitment to employees and customers parallels that of US Airways. "When we began our turnaround efforts, key among our goals was a [FONT style="BACKGROUND-COLOR: #ffff00"]'labor-friendly' restructuring, and we remain firmly on that course as this process moves forward[/FONT]. As the Alabama agency charged with investing and enhancing the pension funds of thousands of public service employees in Alabama, RSA fully appreciates our approach to protect both the pay and benefits of our employees, and to maintain service to our network of communities," Siegel said.[/EM][/P]