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Mix-Ansicht- US Airways an Personal: her mit $800 Mio oder wir machen das 2. Mal pleite - kingsolomon, 19.08.2004, 10:29
US Airways an Personal: her mit $800 Mio oder wir machen das 2. Mal pleite
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8/19/2004
Dow Jones News Services
(Copyright © 2004 Dow Jones & Company, Inc.)
NEW YORK (Dow Jones)--US Airways (UAIR) Chairman David G. Bronner warned that if the airline files for bankruptcy a second time, there will be no outside investor, other airline or government aid to rescue it, The Washington Post reports in its Thursday edition.
The employees, he said, have heard that from US Airways executives before - so many times that many of them, he fears, have tuned out management's pleas for another round of pay and benefit cuts, which US Airways says it needs before the end of September to avoid filing for Chapter 11 for the second time in two years, the Post said.
He said the company must cut $1.5 billion annually in costs, with at least $800 million of that coming from employees.
Bronner said if US Airways does file for bankruptcy, the airline only has a"1 to 2%" chance of surviving, the Post reported.
Bronner said US Airways has a"50-50 chance" of filing for bankruptcy again."For an employee to think going into bankruptcy will be the same as it was the last time is a mistake," he said, according to the Post.
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