Us Airways And Ge Agree To Revised Schedule For
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Evidently, the POR and/or exit financing is not ready to go yet. Hardly surprising, especially given that US Airways has until 3/31/05 tp arrange it for the BK court...
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Plan of Reorganization
ARLINGTON (theHub.com) - US Airways Group, Inc. and GE Capital Aviation Services (GECAS) and GE Engine Services (GEES) have reached agreement on a revised schedule for the airline’s filing of a Plan of Reorganization (POR) with the U.S. Bankruptcy Court.
The original schedule for a Feb. 15, 2005, filing of a POR has been moved to March 15, 2005, to make the schedule more consistent with the court’s granting US Airways exclusive rights to file a plan through March 31, 2005. The agreement with GECAS and GEES reconfirms US Airways’ commitment to file a POR that seeks emergence from Chapter 11 by no later than June 30, 2005.
Chris Chiames, senior vice president of Corporate Affairs, said that the company is “making good progress on the restructuring efforts and we are on track to meet this revised schedule.â€
Regards,
USA320Pilot
ARLINGTON (theHub.com) - US Airways Group, Inc. and GE Capital Aviation Services (GECAS) and GE Engine Services (GEES) have reached agreement on a revised schedule for the airline’s filing of a Plan of Reorganization (POR) with the U.S. Bankruptcy Court.
The original schedule for a Feb. 15, 2005, filing of a POR has been moved to March 15, 2005, to make the schedule more consistent with the court’s granting US Airways exclusive rights to file a plan through March 31, 2005. The agreement with GECAS and GEES reconfirms US Airways’ commitment to file a POR that seeks emergence from Chapter 11 by no later than June 30, 2005.
Chris Chiames, senior vice president of Corporate Affairs, said that the company is “making good progress on the restructuring efforts and we are on track to meet this revised schedule.â€
Regards,
USA320Pilot
No, management isn't "clueless" (postponing a POR filing is smart, if it can't yet be completed), more lilkely just cashless. The POR will be forthcoming within minutes of securing exit financing.700UW said:
700, I thought your job was contracted out side the company. Why do you still want to preach your negative viewpoint on this forum? Get over it.700UW said:
FLYAWAY said:
We have to listen to your boy USA320 so why can't 700 have the same
soap box?
Its an open forum.. He can say what he wants when he wants.. Don't like it
don't read it.
Oh.. But your a pilot.. Your better than the rest of us.
usfliboi
Veteran
- Aug 20, 2002
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Amazing isnt it? You guys remember the Muppet Show? Theres a show going on up on stage, and these two old men are up in the balcony. No matter what gos on in the show, these two old men constantly complain, whine and fuss. Just an observation of some of the whiners on here...
LOL.....true, true. BUT, your remind me of SpongeBob....no matter how bad people treat him, he still walks around with a big smile on his face. (overly optimistic or retarded?)
