Published: February 07, 2005 10:08 AM Dow Jones
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UAIRQ 1.22 Up0.09 7.96%
By Elizabeth Souder
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--An overseas investment group filed a brief with the bankruptcy court stating it wants to buy US Airways Group Inc. (UAIRQ).
Legal Research Inc. of Kennesaw, Ga., filed the brief on behalf of the investor last month. Sallijo Freeman, director of Legal Research, said the investor has the financing for the deal, and intends to continue operating US Airways.
Freeman declined to name the client or describe them in any more detail. Officials with US Airways weren't immediately available to comment.
US Airways has been restructuring under bankruptcy court protection, and recently top executives declared they'd accomplished the biggest, most difficult changes by cutting labor costs.
Further, US Airways currently has the exclusive right to present a business plan to the court. Freeman said she will ask court to consider her client's investment plans.
U.S. airlines cannot legally be 100% foreign-owned. Freeman said her client will comply with all laws and regulations.
By Elizabeth Souder, Dow Jones Newswires; 201-938-4148;
[email protected]
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(END) Dow Jones Newswires
02-07-05 1002ET
