Us Airways Group, Inc. Reports Executive 10b5-1 Plans to Exercise Options and Sell Stock
Source: Comtex News Network (PR Newswire via Comtex)
US Airways Group, Inc. (NYSE: LCC) today reported that several of the company's executive officers have previously adopted pre-arranged stock trading programs to facilitate the exercise of options and the sale of holdings in the company's stock. The company's securities trading policy permits the enactment of pre-determined plans for trades of specified amounts of company stock in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
Executives previously adopting 10b5-1 plans include Chairman, President and Chief Executive Officer Doug Parker; Executive Vice President Sales and Marketing Scott Kirby; Executive Vice President and Chief Administration Officer Jeff McClelland; Senior Vice President, Public Affairs C.A. Howlett; Senior Vice President and Chief Financial Officer Derek Kerr, and Senior Vice President and General Counsel Jim Walsh.
As part of their 10b5-1 plans, on June 12, Kirby, McClelland, Kerr and Walsh exercised and sold 261,112 of their combined 750,883 vested options and vested restricted stock. The officers have elected to sell their stock as part of each individual's long-term strategy for asset diversification. Sales pursuant to these plans are reported to the Securities and Exchange Commission as required by law, and those reports will be available on the company's Web site, www.usairways.com.
US Airways and America West's recent merger creates the fifth largest domestic airline employing nearly 35,000 aviation professionals. US Airways, US Airways Shuttle and US Airways Express operate approximately 3,800 flights per day and serve more than 230 communities in the U.S., Canada, Europe, the Caribbean and Latin America. US Airways is a member of Star Alliance, which provides connections for our customers to 842 destinations in 152 countries worldwide. This press release and additional information on US Airways can be found at www.usairways.com. (LCCF)
FORWARD-LOOKING STATEMENTS
Certain of the statements contained herein should be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as "may," "will," "expect," "intend," "anticipate," "believe," "estimate," "plan," "could," "should," and "continue" and similar terms used in connection with statements regarding the outlook of US Airways Group, Inc. (the Company), expected fuel costs, the revenue and pricing environment, and expected financial performance. Such statements include, but are not limited to, statements about the benefits of the business combination transaction involving America West Holdings and US Airways Group, including future financial and operating results, the combined companies' plans, objectives, expectations and intentions and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties that could cause the Company's actual results and financial position to differ materially from these statements. Such risks and uncertainties include, but are not limited to, the following: the ability of the Company to obtain and maintain any necessary financing for operations and other purposes (including compliance with financial covenants); the ability of the Company to maintain adequate liquidity; the impact of changes in fuel prices; the impact of economic conditions; changes in prevailing interest rates; the ability to attract and retain qualified personnel; the ability of the Company to attract and retain customers; the ability of the Company to obtain and maintain commercially reasonable terms with vendors and service providers; the cyclical nature of the airline industry; competitive practices in the industry, including significant fare restructuring activities by major airlines; labor costs; security-related and insurance costs; weather conditions; government legislation and regulation; relations with unionized employees generally and the impact and outcome of the labor negotiations; the impact of global instability including the potential impact of current and future hostilities, terrorist attacks, infectious disease outbreaks or other global events; the impact of the resolution of remaining claims in US Airways Group's Chapter 11 proceedings; the ability of the Company to fund and execute its business plan following the Chapter 11 proceedings and the merger; and other risks and uncertainties listed from time to time in the companies' reports to the SEC. There may be other factors not identified above of which the Company is not currently aware that may affect matters discussed in the forward-looking statements, and may also cause actual results to differ materially from those discussed. The Company assumes no obligation to publicly update any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting such estimates other than as required by law. Additional factors that may affect the future results of the Company are set forth in the section entitled "Risk Factors" in the Company's Quarterly report on Form 10-Q for the quarter ended March 31, 2006 and in the filings of the Company with the SEC, which are available at www.usairways.com. -LCC-
SOURCE US Airways Group, Inc. Phil Gee, US Airways Media Relations, +1-480-693-5729 http://www.prnewswire.com
Source: Comtex News Network (PR Newswire via Comtex)
US Airways Group, Inc. (NYSE: LCC) today reported that several of the company's executive officers have previously adopted pre-arranged stock trading programs to facilitate the exercise of options and the sale of holdings in the company's stock. The company's securities trading policy permits the enactment of pre-determined plans for trades of specified amounts of company stock in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
Executives previously adopting 10b5-1 plans include Chairman, President and Chief Executive Officer Doug Parker; Executive Vice President Sales and Marketing Scott Kirby; Executive Vice President and Chief Administration Officer Jeff McClelland; Senior Vice President, Public Affairs C.A. Howlett; Senior Vice President and Chief Financial Officer Derek Kerr, and Senior Vice President and General Counsel Jim Walsh.
As part of their 10b5-1 plans, on June 12, Kirby, McClelland, Kerr and Walsh exercised and sold 261,112 of their combined 750,883 vested options and vested restricted stock. The officers have elected to sell their stock as part of each individual's long-term strategy for asset diversification. Sales pursuant to these plans are reported to the Securities and Exchange Commission as required by law, and those reports will be available on the company's Web site, www.usairways.com.
US Airways and America West's recent merger creates the fifth largest domestic airline employing nearly 35,000 aviation professionals. US Airways, US Airways Shuttle and US Airways Express operate approximately 3,800 flights per day and serve more than 230 communities in the U.S., Canada, Europe, the Caribbean and Latin America. US Airways is a member of Star Alliance, which provides connections for our customers to 842 destinations in 152 countries worldwide. This press release and additional information on US Airways can be found at www.usairways.com. (LCCF)
FORWARD-LOOKING STATEMENTS
Certain of the statements contained herein should be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as "may," "will," "expect," "intend," "anticipate," "believe," "estimate," "plan," "could," "should," and "continue" and similar terms used in connection with statements regarding the outlook of US Airways Group, Inc. (the Company), expected fuel costs, the revenue and pricing environment, and expected financial performance. Such statements include, but are not limited to, statements about the benefits of the business combination transaction involving America West Holdings and US Airways Group, including future financial and operating results, the combined companies' plans, objectives, expectations and intentions and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties that could cause the Company's actual results and financial position to differ materially from these statements. Such risks and uncertainties include, but are not limited to, the following: the ability of the Company to obtain and maintain any necessary financing for operations and other purposes (including compliance with financial covenants); the ability of the Company to maintain adequate liquidity; the impact of changes in fuel prices; the impact of economic conditions; changes in prevailing interest rates; the ability to attract and retain qualified personnel; the ability of the Company to attract and retain customers; the ability of the Company to obtain and maintain commercially reasonable terms with vendors and service providers; the cyclical nature of the airline industry; competitive practices in the industry, including significant fare restructuring activities by major airlines; labor costs; security-related and insurance costs; weather conditions; government legislation and regulation; relations with unionized employees generally and the impact and outcome of the labor negotiations; the impact of global instability including the potential impact of current and future hostilities, terrorist attacks, infectious disease outbreaks or other global events; the impact of the resolution of remaining claims in US Airways Group's Chapter 11 proceedings; the ability of the Company to fund and execute its business plan following the Chapter 11 proceedings and the merger; and other risks and uncertainties listed from time to time in the companies' reports to the SEC. There may be other factors not identified above of which the Company is not currently aware that may affect matters discussed in the forward-looking statements, and may also cause actual results to differ materially from those discussed. The Company assumes no obligation to publicly update any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting such estimates other than as required by law. Additional factors that may affect the future results of the Company are set forth in the section entitled "Risk Factors" in the Company's Quarterly report on Form 10-Q for the quarter ended March 31, 2006 and in the filings of the Company with the SEC, which are available at www.usairways.com. -LCC-
SOURCE US Airways Group, Inc. Phil Gee, US Airways Media Relations, +1-480-693-5729 http://www.prnewswire.com
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