Originally Posted by
R57 relay
Purchased? AWA didn't have the money to purchase anything. It was a merger and US had more cash, aircraft and routes than AWA.
Should a guy in indoc get everything before a guy with 17 years moving forward? The separate ops since 2007 have shown how f'ed up Nic was. The majority of what was left of US came from the east.
That said, I agree that a DOH list wasn't the answer to the problem.
US had more cash? Before or after the reverse acquisition?
Originally Posted by
Gomerglideslope
Wow, really? So is that your "out"?... That's why you need not be bound by previously agreed to binding arbitration?...I don't have a dog in that fight, but that seems pretty slimy.
I was on to this guy a few months ago. All I had to do was check his facts and they don't add up.
US Airways Outlines Time Frame for Possible Liquidation
By Keith L. Alexander
Washington Post Staff Writer
Monday, September 27, 2004; Page A20
US Airways faces a "high probability" of liquidation by mid-February if the temporary pay cuts it requested are not approved by the U.S. Bankruptcy Court.
It was the first time since the Arlington-based airline filed for Chapter 11 bankruptcy protection on Sept. 12 that it publicly gave a time frame for a possible liquidation. This possibility was raised in a filing Friday.
The SEC filing says it was a reverse acquisition.
Item 7.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
Background
The merger has been accounted for as a reverse acquisition using the purchase method of accounting. As a result, although the merger was structured such that America West Holdings became a wholly owned subsidiary of US Airways Group, America West Holdings was treated as the acquiring company for accounting purposes due to the following factors: (1) America West Holdings’ stockholders received the largest share of US Airways Group’s common stock in the merger in comparison to unsecured creditors of US Airways Group; (2) America West Holdings received a larger number of designees to the board of directors; and (3) America West Holdings’ Chairman and Chief Executive Officer prior to the merger became the Chairman and Chief Executive Officer of the combined company. As a result of the reverse acquisition, the 2005 consolidated statement of operations for the new US Airways Group presented in this report is comprised of the results of America West Holdings for the 269 days through September 27, 2005 and consolidated results of US Airways Group for the 96 days from September 27, 2005 through December 31, 2005. The results of operations for fiscal years 2004 and 2003 are those of America West Holdings
Company Overview
As of September 27, 2005, US Airways Group, Inc. was acquired by America West Holdings Corp. in a reverse merger transaction. US Airways Group, Inc., through its subsidiaries, operates a network air carrier. Its
subsidiary, US Airways, Inc. (US Airways) engages in the transportation of passengers, property, and mail. As of December 31, 2004, its subsidiary operated 281 jet aircraft and 22 regional jet aircraft; and provided scheduled service at 89 airports in the continental United States, Canada, Mexico, France, Germany, Italy, Spain, Ireland, the Netherlands, the United Kingdom, and the Caribbean.