[IP] US Airways files for Bankruptcy again today
Begin forwarded message:
From: Alexandros Labrinidis <labrinid@xxxxxxxxxxx>
Date: September 12, 2004 7:36:50 PM EDT
To: dave@xxxxxxxxxx
Subject: US Airways files for Bankruptcy again today
Hi Dave.
[for IP if you wish]
US Airways files for Bankruptcy again today - here's their announcement:
On September 12, 2004, US Airways Group announced that the Company and
certain of its subsidiaries filed voluntary petitions for
reorganization under Chapter 11 of the U.S. Bankruptcy Code. The action
is intended to provide the airline the opportunity to implement its
Transformation Plan built on lower costs, a simplified fare structure,
and expanded service in the eastern U.S., Europe, the Caribbean and
Latin America. The case will be heard in the U.S. Bankruptcy Court for
the Eastern District of Virginia in Alexandria, Virginia.
Customers should notice no changes to flight operations or customer
service programs because of the filing. All bookings will be honored,
and ticketing policies are unchanged. Existing marketing partnerships
with other airlines remain in place. Employees will be paid and their
benefits will continue. Vendors will be paid in ordinary course for
provided goods and services going forward. In the future, if there are
any changes to schedules or policies, they will be announced in
advance.
US Airways has also received permission from the Court to allow the
company to honor all key agreements related to its Dividend Miles
program and the co-branded Bank of America/Dividend Miles credit card.
Despite the tremendous strides made by US Airways to transform the
airline since its emergence from Chapter 11 in March 2003, and the
reduction of nearly $2 billion in annual operating expenses, dramatic
changes taking place in the industry require the company to do even
more to achieve a competitive cost structure. These changes include the
rapid growth of low-cost carriers, unprecedented fuel cost increases
and consumer demand for lower, simpler fares. As the restructuring
proceeds, US Airways will be taking the necessary steps to transition
itself into a successful low-cost airline.
This Web site has been established to provide information related to US
Airways’ restructuring efforts, and background on the dramatic changes
taking place in the airline industry. It will be updated regularly.
------------
What is interesting is that the site they are using to communicate the
details of the restructuring to the public,
www.transformingusairways.com has been registered on May 22nd, 2004
(thinking ahead :-)), and belongs to Burson-Marsteller which is their
PR firm.
Domain Name.......... transformingusairways.com
Creation Date........ 2004-05-22
Registration Date.... 2004-05-22
Expiry Date.......... 2005-05-22
Organisation Name.... Marsteller/Burson-Marsteller
Organisation Address. 230 Park Ave South
Organisation Address.
Organisation Address. New York City
Organisation Address. 10003
Organisation Address. NY
Organisation Address. UNITED STATES
take care,
alex
_____________________________________________________________________
Alexandros Labrinidis | web: http://www.cs.pitt.edu/~labrinid
Assistant Professor | email: labrinid@xxxxxxxxxxx
Dept of Computer Science | office: 6105 Sennott Square
University of Pittsburgh | phone: 412-624-8843
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