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No competing bid by 1717 EST on Friday 7-1.
US Airways Statement on Expiration of 30 period
No competing bid by 1717 EST on Friday 7-1.
US Airways Statement on Expiration of 30 period
No Competing Bid By 1700 Est
- Thread starter UseYourHead
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I am sure at some point SWA will get more gates...even if PHL has to build a new concourse out into the river!
etops1 said:
With no competing bid for US Airways or its assets filed with the U.S. Bankruptcy Court by today’s deadline, the next step is for the court to hold a hearing for July 7 to review US Airways’ merger with America West as the means for the company to emerge from bankruptcy.
Yesterday US Airways filed its plan of reorganization (POR) and disclosure statement with the court. The court has set a hearing on approval of the disclosure statement for August 9.
The only major hurdles left to exit Chapter 11 are approvals from the ATSB, the DOT, the America West shareholders, and the bankruptcy judge. If the judge consents to the business plan, POR, and disclosure statement at the August 9 hearing, the disclosure statement will go to US Airways' creditors for a vote.
US Airways’ exit from bankruptcy and merger with America West is now scheduled for the end of September or early October.
If the deal is not closed by October 31, either airline has the right to terminate the merger agreement but would have to pay the other $15 million. They could also agree to extend the closing date to as late as December 31.
Regards,
USA320Pilot
Yesterday US Airways filed its plan of reorganization (POR) and disclosure statement with the court. The court has set a hearing on approval of the disclosure statement for August 9.
The only major hurdles left to exit Chapter 11 are approvals from the ATSB, the DOT, the America West shareholders, and the bankruptcy judge. If the judge consents to the business plan, POR, and disclosure statement at the August 9 hearing, the disclosure statement will go to US Airways' creditors for a vote.
US Airways’ exit from bankruptcy and merger with America West is now scheduled for the end of September or early October.
If the deal is not closed by October 31, either airline has the right to terminate the merger agreement but would have to pay the other $15 million. They could also agree to extend the closing date to as late as December 31.
Regards,
USA320Pilot
autofixer
Veteran
December 3rd? Yeah, that is what they will do! Right before the holidays! I can hear it now, "If employees don't give us an extra 20%, we will be forced to call off the merger, due to the high cost of fuel" (Or whatever the crisis of the moment will be at that time.). "You just might lose your job over the holidays", they will say...S.O.S.
etops1 said:
Southwest will just wait until the exclusive-use leases at PHL expire in June 2006. Or the airport will build the planned hammerhead on Concourse E and/or consolidate the D and E Terminals.
USA320Pilot said:
Well there really is only three to give approval, TPG has already said they will approve the sale and since they own 55% of the voting power of HP stock this really is not an issue. Then again the $7mil "service fee" and new stock in the company doesn't shy them away from it either.
I don't see ATSB, DOJ or Mitchell saying no with the plan that they have. Does anyone?
Autofixer:
The December 3 date was a typing mistake. The accurate date is December 31.
I'm sorry for the confusion.
Regards,
USA320Pilot
The December 3 date was a typing mistake. The accurate date is December 31.
I'm sorry for the confusion.
Regards,
USA320Pilot
No rival bids received for US Airways assets
CHARLOTTE (Observer) - The deadline for companies to bid on US Airways' assets came and went Friday, with no other firms submitting bids to rival the airline's proposed merger with America West Airlines, US Airways said.
The absence of competing bids removes another hurdle to the merger, which still requires approval by a bankruptcy judge, US Airways creditors, a federal loan board and America West shareholders.
"It would have been difficult for other offers to have provided comparable value to our stakeholders," US Airways CEO Bruce Lakefield said in a statement. The airlines can now begin planning their integration, he said.
See Story
Regards,
USA320Pilot
CHARLOTTE (Observer) - The deadline for companies to bid on US Airways' assets came and went Friday, with no other firms submitting bids to rival the airline's proposed merger with America West Airlines, US Airways said.
The absence of competing bids removes another hurdle to the merger, which still requires approval by a bankruptcy judge, US Airways creditors, a federal loan board and America West shareholders.
"It would have been difficult for other offers to have provided comparable value to our stakeholders," US Airways CEO Bruce Lakefield said in a statement. The airlines can now begin planning their integration, he said.
See Story
Regards,
USA320Pilot
As we speak, Im sure. This week end will be a fun filled event for them. Guaranteed lots of smiles in hallways of CCY.
robbedagain
Veteran
it is probably all the money they extracted forcefully from the now poor employees or what is left of them at usair.
