Company Watch - US Airways.US Airways announced that ACE Aviation Holdings ACE Aviation Holdings Inc. TSX: ACE.B is a Canadian holding company that provides commercial airline service and technical support and is the parent company of Air Canada. Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Robert Milton resigned from the US board of directors, as previously announced. Also, US named MD-Revenue Management Brad Beakley as VP-reservations and inventory services and Tom Trenga as VP-revenue management. Apr 21, 2006 US Airways reaches multi-year pact with Coca-Cola. US Airways said Coca-Cola Co. will provide soft drinks on all flights as part of a multi-year agreement. Flights will transition to Coca-Cola beverages this summer. Apr 21, 2006 US Airways Group US Airways Group Inc. NYSE: LCC is the Tempe, Arizona-based airline holding company that operates US Airways, US Airways Express and America West Airlines. It also operates additional companies that provide associated services. flew 5.6 billion consolidated RPMs in March, down 10.7% from the year-ago month. Capacity fell 11.3% to 6.92 billion ASMs and load factor rose 0.6 point to 81%. Domestic traffic dropped 11.3% to 4.68 billion RPMs against a 12.8% decrease in capacity to 5.76 billion ASMs. International RPMs declined 7.4% to 923.2 million and capacity slipped 2.7% to 1.15 billion ASMs. Apr 18, 2006 US Airways yesterday announced completion of the redemption of approximately $112 million in principal amount of America West Holdings' 7.5% convertible senior notes due 2009. The airline said the transaction did not result in a cash outlay "other than a modest payment for accrued interest in unconverted notes," as more than 99% of the holders chose to convert their notes into US Airways common stock at a rate of 34.376 shares per $1,000 principal amount. The notes originally were issued to aircraft lessors in January 2002 in exchange for rent reductions as part of America West's restructuring. The reduction of debt will lower interest expense by $8.4 million annually, the airline said. Apr 18, 2006 US Airways in five-year deal with Galileo. US Airways has signed a five-year agreement with Galileo International making Galileo the preferred distribution channel for US Airways' ticket sales. Galileo is owned by Cendant TDS TDS total dissolved solids. , and under the deal, all US Airways and America West fares, including Web rates, will be available through Galileo. Apr 20, 2006 Galileo International announced the signing of a five-year, full-content enterprise agreement with US Airways. Inventory includes services operated by America West Airlines America West Airlines was one of the United States' ten major airlines. The airline was based in Tempe, Arizona, and is now a part of US Airways Group. At the time of its integration into US Airways, the airline maintained two hubs, one at Phoenix Sky Harbor International . Apr 21, 2006 US Airways announced the completion of a $1.25 billion debt refinancing transaction yesterday, allowing the carrier to pay off loans from America West ($250 million), the Air Transportation Stabilization Board The Air Transportation Stabilization Board is an office of United States Department of the Treasury set up after the September 11, 2001 attacks to offer loans to troubled US airlines. External links
See: London Interbank Offered Rate LIBOR See London interbank offered rate (LIBOR). plus 3.5%. The margin can fall as low as LIBOR plus 2.5% if the balance is $600 million or less. The transaction was launched last month with a $1.1 billion target but was increased in response to oversubscription Oversubscription The excess number of shares or bonds that investors want to buy but are not available due to high demand. . The four older loans having been extinguished in March, the $150 million difference will be used for general corporate purposes. "Today's transaction provides significant liquidity in the near term as we work to complete our integration, and the strong demand and oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. conditions further demonstrate the financial market's confidence in the new US Airways," Senior VP and CFO See Chief Financial Officer. Derek Kerr said. Apr 13, 2006 |
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