US Airways completed arrangements today for $404 million in financing involving previously unencumbered aircraft and engines.
In its third quarter financial earnings press release, US Airways said it expected to end the year with $800 million to $900 million in liquidity. With the deferral by the U.S. government of payment of excise taxes until Jan. 15, 2002, US Airways now expects to close the year with liquidity in excess of $1 billion.
Certain of the information discussed above or enclosed herewith should be considered “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995. A number of risks and uncertainties exist, which could cause the actual results to differ materially from the results projected in such forward-looking statements. Additional information concerning the factors, which could cause actual results to differ materially from the forward-looking statements, was contained in a Form 8-K filed today with the Securities and Exchange Commission. US Airways assumes no obligation to update such estimates to reflect actual results, changes in assumptions or changes in other factors affecting such estimates.
Reporters needing additional information should contact US Airways Corporate Communications at (703) 872-5100.