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AMERICA WEST AIRLINES RESTRUCTURES ITS DEBTOR-IN-POSSESSION FINANCING FACILITY AND ADDS JAMES C. CLARKE TO THE BOARD OF DIRECTORS

 PHOENIX, Sept. 30 /PRNewswire/ -- America West Airlines (NASDAQ: AWAQC) announced that the restructuring of its debtor-in possession (DIP) lending facility closed today. William A. Franke, chairman of the board for America West Airlines, said that the restructured loan is in the amount of $83.6 million and extends through June 1994. The lenders are GPA Group plc, a Shannon-based aircraft leasing firm, Kawasaki Industries, and a consortium of Arizona-based lenders. Ansett Airlines of Australia, a former participant of the DIP lending consortium, was repaid in full at closing.
 America West's board of directors was concurrently restructured with James C. Clarke, vice president of GPA Capital in New York, joining the board, and Tibor Sallay, general counsel, TNT Group U.S.A., and Juan O'Callahan leaving it. In addition, the directors will, within 90 days, select a 10th member who will be an independent with industry experience.
 Clarke, 35, holds law and MBA degrees, and has corporate finance experience with both American and United airlines.
 The remaining directors, in addition to Franke, are Frederick W. Bradley Jr., an aviation industry executive retired from Citicorp, Michael J. Conway, president and chief executive officer of America West, O. Mark DeMichele, president and chief executive officer of Arizona Public Service Co., Samuel L. Eichenfield, chairman, president and chief executive officer of GFC Financial Corp., James M. King, vice chairman of GPA Group plc, Richard C. Kraemer, president and chief operating officer of UDC Homes Inc., and John R. Norton III, chairman of the J. R. Norton Co..
 -0- 9/30/93
 /CONTACT: Daphne Dicino, senior director of corporate communications, 602-693-5729/
 (AWAQC)


CO: America West Airlines ST: Arizona IN: AIR SU: RCN PER

JB-EH -- LA031 -- 7529 09/30/93 17:36 EDT
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Publication:PR Newswire
Date:Sep 30, 1993
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