US Airways Seen as Risking Bankruptcy
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US Airways Group Inc. probably would have to file for bankruptcy by mid-September without cost cuts, a financial advisor hired by the carrier’s pilots union said, as the pilots consider a request for $300 million in concessions.
After receiving the report from Glanzer & Co., the Air Line Pilots Assn. said it was accelerating negotiations with the Arlington, Va.-based carrier.
“The company will fail in the immediate future, absent corrective action with respect to its cost structure; and we should expect it to return to bankruptcy protection in mid-September,” the report to the union said.
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