Por Approved

[700UW]

No they did not:

In a brief hearing, Judge Stephen Mitchell overruled labor unions' objections and agreed to the airline's plans.

Story

 

[PHX-F/A]

Judge OKs US Air-America West deal
Creation of nation's No. 5 airline will end US Air's second bankruptcy in three years.
September 16, 2005: 12:26 PM EDT

ALEXANDRIA, Va. (Reuters) - A federal judge approved Friday US Airways' plan to emerge from bankruptcy and merge with America West Airlines Inc., capping US Airways' second bankruptcy restructuring in three years.

Judge Stephen Mitchell of the U.S. Bankruptcy Court for the Eastern District of Virginia signed off on the deal that will create the fifth largest domestic airline by passenger volume.

The parties must wait 10 days before completing the transaction.

US Airways says the merged company will have $2.5 billion in cash, including unrestricted and restricted amounts.

The merger plan anticipates oil prices of $58 per barrel in 2006 and $57 per barrel in 2007. Oil was trading around $64 a barrel on Friday.

"With the financial position of other carriers deteriorating, we are pleased we will have a very strong cash position, a robust business plan, a low-cost structure and a strong network," said Bruce Lakefield, US Airways CEO and soon to be vice chairman of the new airline.

Delta Air Lines Inc. (Research) and Northwest Airlines Corp. (Research) filed for bankruptcy protection Wednesday.

The merged company will fly under the US Airways flag and be based at America West (Research) headquarters in Tempe, Arizona. Its stock will trade on the New York Stock Exchange under the symbol "LCC".

Creditors of US Airways and shareholders of America West have already approved the deal.

Mitchell earlier Friday gave approval to a severance plan for 23 US Airways executives, who will either lose their jobs in the merger, or soon after.

Unions at US Airways opposed the packages, calling them an insult to thousands of regular workers who took pay and benefit cuts in the reorganization.

 

[heyray]

No they did not:

In a brief hearing, Judge Stephen Mitchell overruled labor unions' objections and agreed to the airline's plans.

Story

[post="301726"][/post]​

just going with what the news said....

Updated: September 16th, 2005 01:01 PM EDT
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Associated Press Writer

 

[etops1]

ok, lets roll.

 

[PHX-F/A]

HP NEWS NOW

September 16, 2005
Bankruptcy Court Approves US Airways Plan of Reorganization

Today, US Airways announced that Judge Stephen S. Mitchell of the U.S. Bankruptcy Court for the Eastern District of Virginia confirmed the Plan of Reorganization (POR), marking the final approval needed for US Airways to move forward with its merger with America West. Today’s decision will now be followed by a Court-imposed 10-day period in which objections can be filed. Following that timeframe, the merger will be complete.

“This is a great day for both US Airways and America West,†said US Airways President and Chief Executive Officer Bruce R. Lakefield in a press release. “For our customers, we are about to become the kind of airline that they have been asking for, a global carrier offering full-service amenities and simplified fares. For our employees, this merger will provide more stability and a chance to be a part of a vibrant new company.â€

President and CEO Doug Parker said, “The Court’s approval reflects the tremendous amount of work that US Airways has put into restructuring its business and speaks to the efforts of its employees who have worked hard to save their airline.â€

He continued, “Although we are technically not closed until September 27 to allow for a 10-day grace period, the transactional work related to our merger is coming to a close and now the heavy lifting begins. Implementing our two cultures, working together towards one operating certificate, and ultimately building a great airline that our employees can be proud of and that our customers want to fly is our goal. We are grateful for the trust our new investors have placed in us and we do not take our responsibility to them lightly. In short, we will succeed because of the outstanding people of the new US Airways.â€

Look for more merger news and updates on www.awaCompass.com or in the latest edition of Plane Deal, the weekly merger newsletter.

 

[etops1]

doug parker said, “Although we are technically not closed until September 27 to allow for a 10-day grace period, the transactional work related to our merger is coming to a close and now the heavy lifting begins. Implementing our two cultures, working together towards one operating certificate, and ultimately building a great airline that our employees can be proud of and that our customers want to fly is our goal. We are grateful for the trust our new investors have placed in us and we do not take our responsibility to them lightly. In short, we will succeed because of the outstanding people of the new US Airways.

very well put. we are gonna make it you guys. i can feel it. this guy is no seigel by a long shot.

 

[etops1]

View attachment 3297nuff said