Attached files
file | filename |
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8-K - FORM 8-K - US AIRWAYS GROUP INC | p18928e8vk.htm |
EX-23.1 - EX-23.1 - US AIRWAYS GROUP INC | p18928exv23w1.htm |
EX-23.2 - EX-23.2 - US AIRWAYS GROUP INC | p18928exv23w2.htm |
EX-23.3 - EX-23.3 - US AIRWAYS GROUP INC | p18928exv23w3.htm |
EX-1.1 - EX-1.1 - US AIRWAYS GROUP INC | p18928exv1w1.htm |
Exhibit 99.1


For additional information, please contact US Airways Media Relations at 480-693-5729.
Contact:
|
Dan Cravens 480/693-5729 |
FOR IMMEDIATE RELEASE
US AIRWAYS, INC. ANNOUNCES $388 MILLION AIRCRAFT FINANCING
Tempe, Ariz., June 21, 2011US Airways, Inc. (US Airways or the Company), a wholly-owned
subsidiary of US Airways Group, Inc. (NYSE: LCC) (US Airways Group), announced today its
intention to make an offering, subject to market and other conditions, of Class A and Class B
enhanced equipment trust certificates (the Certificates) in the aggregate principal amount of
approximately $388 million. The Company intends to use the proceeds from the offering to refinance
five Airbus aircraft currently owned by US Airways, to finance four Airbus aircraft scheduled to be
delivered in September 2011 and October 2011 and use the balance, if any, for general corporate
purposes.
The $388 million financing will be comprised of approximately $294 million of Class A
certificates with a final expected distribution date of October 22, 2023, and approximately $94
million of Class B certificates with a final expected distribution date of October 22, 2018.
Goldman, Sachs & Co. (Goldman Sachs) will act as structuring agent for the offering.
Goldman Sachs, Citigroup Global Markets Inc. (Citigroup) and Credit Suisse Securities (USA) LLC
(Credit Suisse) will act as the joint book-running managers for the offering; Merrill Lynch,
Pierce, Fenner & Smith Incorporated, Barclays Capital Inc. and Natixis Securities North America
Inc. will act as co-managers for the offering.
The Certificates will be offered under the Companys existing effective shelf registration
statement on Form S-3 previously filed with the Securities and Exchange Commission. A prospectus
supplement and accompanying prospectus describing the terms of the offering will be filed with the
Securities and Exchange Commission. When available, copies of both the prospectus supplement and
the accompanying prospectus may be obtained from Goldman Sachs (tel: 1-866-471-2526), from
Citigroup (tel: 1-212-723-6171) or from Credit Suisse (tel: 1-800-221-1037).
This press release shall not constitute an offer to sell or the solicitation of an offer to
buy, nor shall there be any sales of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification under the securities
laws of such jurisdiction.
Forward Looking Statements
Certain of the statements in this press release and other materials filed or to be filed with
the Securities and Exchange Commission (SEC) (or otherwise made by US Airways Group, US Airways
or on the Companys behalf) should be considered forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of
the Securities Exchange Act of 1934, as amended (the Exchange Act). When used in this press
release and in other materials filed or to be filed with the SEC (or otherwise made by US Airways
Group, US Airways or on the Companys behalf), forward-looking statements include, without
limitation, statements regarding financial forecasts or projections, and the Companys
expectations, beliefs, intentions or future strategies that are signified by the words may,
will, expect, intend, indicate, anticipate, believe, estimate, plan, project,
could, should, continue and similar terms used in connection with statements regarding, among
others, the Companys outlook, expected fuel costs, the revenue and pricing environment, and the
Companys expected financial performance and liquidity position. These statements include, but are
not limited to, statements about future financial and operating results, the Companys plans,
objectives, expectations and intentions and other statements that are not historical facts. These
statements are based upon the current beliefs and expectations of the Companys management and are
subject to significant risks and uncertainties that could cause the Companys actual results and
financial position to differ materially from these statements. In addition, the success of the
offering described above and the sale of the Certificates are subject to market and other
conditions, not all of which are within US Airways control. There is no assurance that US Airways
will successfully complete the proposed offering on the anticipated terms or at all. The risks and
uncertainties that could affect the forward-looking statements include, but are not limited to, the
following: the impact of significant operating losses in the future; downturns in economic
conditions and their impact on passenger demand and related revenues; increased costs of financing,
a reduction in the availability of financing and fluctuations in interest rates; the impact of the
price and availability of fuel and significant disruptions in the supply of aircraft fuel; the
Companys high level of fixed obligations and the Companys ability to fund general corporate
requirements, obtain additional financing and respond to competitive developments; any failure to
comply with the liquidity covenants contained in the Companys financing arrangements; provisions
in the Companys credit card processing and other commercial agreements that may affect the
Companys liquidity; the impact of union disputes, employee strikes and other labor-related
disruptions; the Companys inability to maintain labor costs at competitive levels; interruptions
or disruptions in service at one or more of the Companys hub airports; the Companys reliance on
third-party regional operators or third-party service providers; the Companys reliance on and
costs of third-party distribution channels, including those provided by global distribution systems
and online travel agents; changes in government legislation and regulation; the Companys reliance
on automated systems and the impact of any failure or disruption of these systems; the impact of
changes to the Companys business model; competitive practices in the industry, including the
impact of industry consolidation; the loss of key personnel or the Companys ability to attract and
retain qualified personnel; the impact of conflicts overseas or terrorist attacks, and the impact
of ongoing security concerns; the Companys ability to operate and grow the Companys route
network; the impact of environmental laws and regulations; costs of ongoing data security
compliance requirements and the impact of any data security breach; the impact of any accident
involving the Companys aircraft or the aircraft of the Companys regional operators; delays in
scheduled aircraft deliveries or other loss of anticipated fleet capacity; the impact of weather
conditions and seasonality of airline travel; the impact of possible future increases in insurance
costs and disruptions to insurance markets; the impact of global events that affect travel
behavior, such as an outbreak of a contagious disease; the impact of foreign currency exchange rate
fluctuations; the Companys ability to use net operating losses and certain other tax attributes;
and other risks and uncertainties listed from time to time in the Companys reports to and filings
with the SEC. These forward-looking statements are subject to risks, uncertainties and assumptions
that could cause the Companys actual results and the timing of certain events to differ materially
from those expressed in the forward-looking statements. There may be other factors not identified
above of which the Company is not currently aware that may affect matters discussed in the
forward-looking statements, and may also cause actual results to differ materially from those
discussed. The Company assumes no obligation to publicly update or supplement any forward-looking
statement to reflect actual results, changes in assumptions or changes in other factors affecting
these estimates other than as required by law. Additional factors that may affect the future
results of the Company are set forth in the section entitled Risk Factors in the Companys Report
on Form 10-Q for the quarter ended March 31, 2011 and in the Companys other reports and filings
with the SEC, which are available at www.usairways.comwww.usairways.com. (LCCF)
-LCC-