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STATESWEST ANNOUNCES ANTICIPATED FILING OF REORGANIZATION PLAN

 PHOENIX, May 20 /PRNewswire/ -- StatesWest Airlines Inc. over- the-counter (OTC) announced today that it anticipates filing a plan of reorganization in its pending Chapter 11 proceedings by June 30, 1993. Based upon analysis of the company's financial position, and after taking into consideration the legal requirements relating to confirmation of a reorganization plan, the board of directors of StatesWest has determined that it is most probable that the plan will have to provide for cancellation of the company's existing preferred and common stock and only partial payments to the company's pre- petition unsecured creditors.
 Rudy R. Miller, chairman, president and chief executive officer, stated, "The board of directors spent a considerable amount of effort in trying to find a way to preserve shareholder equity." Miller continued, "The board members have invested in the company over the years, and I personally am the largest individual shareholder of record. This was an extremely difficult decision for the board to make. I would like to express my gratitude to the board and stockholders for their support over the past years in truly the most difficult period in aviation history."
 StatesWest is the 24th largest regional airline in the United States and operates under code-share agreements with both USAir and Northwest Airlines feeding flights for the total travel network for USAir, and flights to the Pacific-RIM system for Northwest Airlines. Traffic flows through the hub cities of Los Angeles and San Francisco. The airline operates approximately 3,600 monthly departures serving passengers in 11 western cities.
 -0- 5/20/93
 /CONTACT: Rudy R. Miller, chairman, president and CEO, or Mary A. Nance of StatesWest Airlines, 602-225-0504/


CO: StatesWest Airlines Inc. ST: Arizona IN: AIR SU:

MS-EH -- LA023 -- 0855 05/20/93 14:28 EDT
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Publication:PR Newswire
Date:May 20, 1993
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