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AMERICA WEST FINANCING APPROVED

 AMERICA WEST FINANCING APPROVED
 PHOENIX, Sept. 9 /PRNewswire/ -- America West Airlines


(NASDAQ: AWAQC) announced today that U.S. Bankruptcy Court Chief Judge Robert G. Mooreman has approved $53 million of new debtor-in- possession financing as part of the carrier's efforts to emerge from Chapter 11.
 The new financing will be made available as an expansion of the airline's existing debtor-in-possession lending facility: $35 million of the new funds will be provided by GPA plc, a Shannon, Ireland-based aircraft leasing firm, $10 million will be added by Ansett Worldwide Aviation Services and $8 million from a consortium of Arizona lenders. The new financing is expected to fund Friday pending final documentation. Concurrent with the funding of this financing package, the carrier will reconstitute its board of directors.
 Michael J. Conway, America West's chief executive officer, said, "We are gratified by the continued confidence shown by GPA and Ansett, who have been very supportive of America West since our beginning as an airline. The funding provided from within Arizona represents a most welcome display of home town support."
 With approval of the new financing, Conway said, America West Airlines is now positioned to realize the benefits from its other financing and cost containment programs which amount to more than $200 million over the next two years.
 "The three most significant programs are a reduction in our aircraft lease costs, a reduction in our aircraft fleet to just three types and greater specialization by our customer service personnel," Conway said. "Lease costs have been reduced to reflect current aircraft market values. Reducing our fleet to three aircraft types means greater efficiencies in training, maintenance and demand for spare parts. The refinements in America West's unique employee cross-utilization program will create greater specialization, enhance productivity and reduce costs."
 Conway continued, "What this means to our customers is that they can feel confident in booking America West Airlines throughout the upcoming holiday season and beyond and that they can be reassured that they will continue to find the high-quality service they have come to expect."
 Conway added, "The men and women of America West have proven that they have the resolve to survive. Throughout all the turmoil in the airline industry over the past two years, they have consistently upheld their hard-won reputation for dedication, professionalism and care for the safety and comfort of their passengers."
 The Phoenix-based carrier is the only post-deregulation airline to have achieved the U.S. Department of Transportation's "major air carrier" designation.
 In response to an industry environment in which losses are being incurred by U.S. major airlines at unprecedented levels, America West has implemented a revised business plan with further retrenchments and a restructured fleet that will ensure its position as the lowest cost full-service carrier in the industry.
 -0- 9/9/92
 /CONTACT: Daphne Dicino, senior director of corporate communications for America West Airlines, 602-693-5729/
 (AWAQC) CO: America West Airlines ST: Arizona IN: AIR SU:


LS-KJ -- LA037 -- 7780 09/09/92 21:48 EDT
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Publication:PR Newswire
Date:Sep 9, 1992
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