No Competing Bid By 1700 Est

[UseYourHead]

Looking at realtime news and,

No competing bid by 1717 EST on Friday 7-1.

US Airways Statement on Expiration of 30 period

 

[etops1]

so what is sw gonna do if they don't get more gates in phl ?

 

[UseYourHead]

I am sure at some point SWA will get more gates...even if PHL has to build a new concourse out into the river!

so what is sw gonna do if they don't get more gates in phl ?

[post="279840"][/post]​

 

[etops1]

your proprably right . they always get what they want.

 

[USA320Pilot]

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

 

[autofixer]

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.

 

[sfb]

so what is sw gonna do if they don't get more gates in phl ?

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.

 

[osunut]

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 3.

Regards,

USA320Pilot

[post="279845"][/post]​

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?

 

[FlyUs]

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.

[post="279854"][/post]​

Or maybe they will decide to go to Atlanta instead. 😉

 

[USA320Pilot]

Autofixer:

The December 3 date was a typing mistake. The accurate date is December 31.

I'm sorry for the confusion.

Regards,

USA320Pilot

 

[USA320Pilot]

US Airways' merger plan is on track

US Airways' reorganization plan -- which equates to the merger proposal -- will be considered at a bankruptcy court hearing tentatively scheduled for Aug. 9.

See Story

Regards,

USA320pilot

 

[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

 

[700UW]

Yes Bob,

It does make you wonder what shenigans they are trying to pull now.

I find it interesting that a complete POR was not filed, tells me the gang of thieves at CCY are planning to reward themselves.

 

[WestCoastGuy]

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]

it is probably all the money they extracted forcefully from the now poor employees or what is left of them at usair.