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Last updated at: (Beijing Time) Monday, August 12, 2002
US Airways Files for Bankruptcy Protection
US Airways Group Inc. announced Sunday that it filed for bankruptcy protection voluntarily in order to reorganize the company.
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US Airways Group Inc. announced Sunday that it filed for bankruptcy protection voluntarily in order to reorganize the company.
As a major US airline, which was hit hard in its business by the Sept.11 terror attacks, suffered a loss of 2.1 billion US dollars during 2001.
The airline said in a statement that the bankruptcy filing "will allow the company effect cost savings from aircraft lessors and financiers and other key stakeholders as a means of ensuring the company's return to profitability."
All flights and customer programs of the company will, however,continue without interruption, according to the company's statement.
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