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- Aug 23, 2002
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BOSTON, Nov 21 (Reuters) - The head of General Electric Co.''s [GE.N] aircraft leasing business said he expects to strike a deal to restructure its finance agreement with bankrupt US Airways Group Inc. [UAWGQ.OB] in the next two to four weeks.
Henry Hubschman, chief executive of GE Capital Aviation Services, said the conglomerate has about $2.2 billion in exposure to Arlington, Virginia-based US Airways, which is operating under Chapter 11 bankruptcy protection. Of that amount, $1.9 billion is secured by US Airways assets, Hubschman told analysts during a presentation in New York City.
We anticipate a restructuring agreement in two to four weeks, he said.
Henry Hubschman, chief executive of GE Capital Aviation Services, said the conglomerate has about $2.2 billion in exposure to Arlington, Virginia-based US Airways, which is operating under Chapter 11 bankruptcy protection. Of that amount, $1.9 billion is secured by US Airways assets, Hubschman told analysts during a presentation in New York City.
We anticipate a restructuring agreement in two to four weeks, he said.