America West Airlines, Inc. (NYSE: AWA)
announced an agreement with Continental Airlines, Inc. to modify the airlines`
code share agreement to eliminate code sharing on flights between each
airlines` hubs, to expand “beyond hub” code sharing and to increase
flexibility for adding or eliminating markets and terminating the arrangement.
As a result of the amendments, the number of markets in which the airlines
code share will be increased from 65 to more than 100. Also, America West and
Continental agreed that markets could be eliminated from the arrangement or
that the code share agreement, which runs through June 2004, could be
terminated by either party on 30 days` notice.
America West and Continental agreed to an extensive domestic code sharing
arrangement in 1994 as part of America West`s financial restructuring. The
arrangement has been amended on a number of occasions during its term to
improve customer service and the scope of the arrangement has been modified
from time to time as both airlines grew and increased their respective
America West expects that the amendments will create the opportunity to
expand revenues under the code sharing arrangement.
This press release contains forward-looking statements within the meaning
of the Securities Litigation Reform Act that involve risks and uncertainties,
including competitive practices in the industry, the impact of industry
regulation and other factors described from time to time in the two companies`
publicly available SEC reports, which could cause actual results to differ