US Airways Comments on the Joint Protocol Agreement Between AMR and the Committee of Unsecured Creditors
TEMPE, Ariz., May 11, 2012 /PRNewswire/ -- US Airways Group, Inc. (NYSE: LCC) today issued the following statement:
We are very pleased that the AMR management team and Board of Directors have committed to a process to explore consolidation scenarios that will enhance value for its stakeholders. The Unsecured Creditors Committee should be recognized for its efforts and we look forward to working with the Committee in the process going forward. As previously stated, US Airways has concluded that a combination is in the best interests of employees, customers and the communities of both companies, as well as AMR's creditors and US Airways' investors. We look forward to engaging in the AMR process to demonstrate the significant advantages of our plan to maximize value for all constituents.
US Airways, along with US Airways Shuttle and US Airways Express, operates more than 3,200 flights per day and serves more than 200 communities in the U.S., Canada, Mexico, Europe, the Middle East, the Caribbean, Central and South America. The airline employs more than 32,000 aviation professionals worldwide, operates the world's largest fleet of Airbus aircraft and is a member of the Star Alliance network, which offers its customers more than 20,500 daily flights to 1,293 airports in 190 countries. Together with its US Airways Express partners, the airline serves approximately 80 million passengers each year and operates hubs in Charlotte, N.C., Philadelphia and Phoenix, and a focus city in Washington, D.C. at Ronald Reagan Washington National Airport. Aviation Week and Overhaul & Maintenance magazine presented US Airways with the 2012 Aviation Maintenance, Repair and Overhaul (MRO) of the Year Award for demonstrating outstanding achievement and innovation in the area of technical operations. US Airways was the only airline included as one of the 50 best companies to work for in the U.S. by LATINA Style magazine's 50 Report for 2010 and 2011. The airline also earned a 100 percent rating on the Human Rights Campaign Corporate Equality index for six consecutive years. The Corporate Equality index is a leading indicator of companies' attitudes and policies toward lesbian, gay, bisexual and transgender employees and customers. For more company information visit usairways.com, follow on Twitter @USAirways or at Facebook.com/USAirways. (LCCG)
Forward Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements can be identified by the words, "believes," "views," "expects," "projects," "hopes," "could," "will," "intends," "should," "estimate," "would," "may," "anticipates," "plans" and other similar words. These forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ materially from those contained in the forward-looking information, and are based on the Company's current expectations, estimates, forecasts and projections. There can be no assurance that a business combination between the Company and AMR Corporation will be implemented, or the terms thereof. Investors are also urged to review the factors affecting the business of the Company generally, including those set forth in the filings of the Company with the Securities and Exchange Commission, especially in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of its annual reports on Form 10-K and quarterly reports on Form 10-Q, current reports on Form 8-K and other SEC filings. These forward-looking statements speak only as of the date hereof. The Company undertakes no obligation to publicly release the results of any revisions or updates to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events.
SOURCE US Airways Group, Inc.