US Airways Issues Statement to Clarify Reports Regarding Thursday`s Meeting with Bondholders

9th Aug 2002

US Airways issued a statement this evening clarifying reports about Thursday`s meeting with bondholders involved in the Company`s restructuring:
“The Company is aware of news media reports which convey that some participants may have left a meeting for bondholders today with a belief that it provided assurances that missed debt payments will be paid and that its restructuring will be accomplished without a Chapter 11 filing.
“Neither Company representatives nor its advisers participating in today`s meeting provided any such assurances. As previously stated in communications to employees and in filings to the SEC, while the Company has been pursuing a voluntary restructuring, if such voluntary efforts are not successful, a Chapter 11 filing would be required to obtain the necessary relief from stakeholders - including vendors, aircraft lessors, lenders and remaining labor unions - that are unwilling to work with US Airways on its voluntary restructuring.”


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