US Airways Restructures Purchase Agreements

3rd Feb 2003

US Airways and Airbus have reached an agreement in principle to restructure US Airways` existing orders for A330 and A320 family aircraft. The new agreement will enable US Airways to complement its existing fleet of A330-300 aircraft with A330-200 aircraft, and better match its future fleet of A320 family aircraft for domestic single-aisle operations. It would substitute a new firm order for 10 A330-200 aircraft and 19 A320 family aircraft for existing firm orders of one Airbus A330-300 and 37 A320 family aircraft.

.“We have a great partnership with Airbus, as demonstrated by this agreement,” said US Airways President and Chief Executive Officer David Siegel. “Long-term, we see Airbus playing an important role in our company`s future, and this agreement confirms our commitment to begin taking delivery of new aircraft once we are in a better financial position.”

Separately, US Airways has filed a motion with the bankruptcy court seeking relief from lease obligations from a variety of financial institutions for up to 29 A320 family aircraft currently operating in the US Airways fleet. If granted, this will give the airline significant flexibility to complete lease restructuring negotiations and determine the final make-up of it fleet upon emergence from bankruptcy.

As part of the company`s current fleet plan, US Airways will continue to operate no fewer than 279 aircraft upon emergence from bankruptcy.

Reporters needing additional information should contact US Airways Corporate Communications at (703) 872-5100.




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