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AMERICA WEST AIRLINES RECEIVES APPROVAL TO EXTEND DEBTOR-IN-POSSESSION FINANCING REPAYMENT EXTENSION

 PHOENIX, Sept. 29 /PRNewswire/ -- America West Airlines (NASDAQ: AWAQC) received U.S. Bankruptcy Court approval to extend the maturity date of its debtor-in-possession (DIP) financing from Sept. 30, 1993, to June 30, 1994. The approval is subject to a final court order on Oct. 6. At that time, the outstanding balance of the DIP loan will be approximately $83.6 million.
 William A. Franke, chairman of the board for America West, said, "The Board of Directors is pleased with the responsible position taken by the DIP lenders in agreeing to this extension. The involvement of the Creditors Committee and the Equity Committee in the development of the extension reflects their continued support for our restructuring efforts." He added, "This extension will permit the orderly development of plan of reorganization alternatives without the time pressure associated with a short-term repayment schedule."
 -0- 9/29/93
 /CONTACT: Daphne Dicino, 602-693-5729/
 (AWAQC)


CO: America West Airlines ST: Arizona IN: AIR SU: BCY

LS-MF -- LA032 -- 7043 09/29/93 19:29 EDT
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Publication:PR Newswire
Date:Sep 29, 1993
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