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US Airways Takes Actions To Boost Financials |
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Written by David Horn
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(TEMPE, AZ) -- US Airways will trim capital expenditures over the next three years in an effort to boost its future liquidity. The move announced Tuesday by the airline is expected to improve projected year-end 2009 liquidity by approximately $150 million. The company, with its largest hub in Charlotte, expects about a $450 million improvement in projected liquidity by the end of 2010.
“These moves are part of our continuing efforts to improve our balance sheet and return the Company to profitability," said US Airways Chairman and CEO Doug Parker. "Our employees are continuing to run a great airline and doing a terrific job taking care of our customers and, with these strategic initiatives behind us, we believe US Airways is well positioned to take full advantage of the recovering economy.” US Airways' modified obligations include deferring delivery of 54 new Airbus aircraft until 2013 or later. The deferral arrangement will reduce the Company’s aircraft capital expenditures over the next three years by approximately $2.5 billion. |
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Last Updated ( Tuesday, 24 November 2009 )
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