US Airways issued the following statement today in response to media inquiries regarding the status of equity bids to be offered for the airline as part of its Chapter 11 reorganization:
“In September, US Airways submitted to the U.S. Bankruptcy Court a procedure for other potential bidders to be named as the equity sponsor as part of the company’s reorganization. That process concludes at the close of business today (Friday, Nov. 15, 2002). Given our obligation to conduct this process properly, we will not be in a position to comment, confirm or speculate today about whether other bidders have stepped forward to replace The Retirement Systems of Alabama. We expect to make an announcement next week.”
Reporters needing additional information should contact US Airways Corporate Communications at (703) 872-5100.