US Airways Announces Resignation of Executive Vice President Bruce Ashby
16 7월 2005 - 12:13AM
PR Newswire (US)
US Airways Announces Resignation of Executive Vice President Bruce
Ashby ARLINGTON, Va., July 15 /PRNewswire-FirstCall/ -- US Airways
(OTC:UAIRQ) (BULLETIN BOARD: UAIRQ) announced today that Bruce
Ashby, its executive vice president-marketing and planning, will be
resigning from the company later this month to accept a position as
chief executive officer of IndiGo. IndiGo is a start-up low-cost
airline that will be based in India and will focus on the domestic
inter-India aviation market. Ashby has been with US Airways for
over nine years, and has held a series of senior management
positions in finance, planning, operations, corporate development,
and marketing. He currently has responsibility for US Airways
marketing, planning, alliances and US Airways Express. His duties
will be split amongst the existing US Airways management team as
they begin planning for the merger and integration process with
America West (NYSE:AWA). US Airways announced its intention to
merge with America West on May 19, 2005, and its plan to complete
the merger by late September or early October of this year remains
on track, having already cleared initial regulatory and bankruptcy
court reviews. "Bruce Ashby has been personally responsible for
many of US Airways' accomplishments. He is a brilliant individual
and has played a pivotal role in our reorganization, and the
financial backers of IndiGo clearly recognize his many talents,"
said Bruce Lakefield, US Airways president and chief executive
officer. "We wish him the absolute best in his new endeavor."
FORWARD-LOOKING STATEMENTS Certain of the statements contained
herein should be considered "forward- looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements may be identified by words
such as "may," "will," "expect," "intend," "anticipate," "believe,"
"estimate," "plan," "could," "should," and "continue" and similar
terms used in connection with statements regarding the companies'
outlook, expected fuel costs, the RASM environment, and the
companies' respective expected 2005 financial performance. Such
statements include, but are not limited to, statements about the
benefits of the business combination transaction involving America
West Holdings Corporation ("America West") and US Airways Group,
Inc. ("US Airways" and, together with America West, the
"companies"), including future financial and operating results, the
companies' plans, objectives, expectations and intentions and other
statements that are not historical facts. Such statements are based
upon the current beliefs and expectations of America West and US
Airways' management and are subject to significant risks and
uncertainties that could cause the companies' actual results and
financial position to differ materially from these statements. Such
risks and uncertainties include, but are not limited to, the
following: the ability of the companies to obtain and maintain any
necessary financing for operations and other purposes, whether
debtor-in-possession financing, in the case of US Airways, or other
financing; the ability of the companies to maintain adequate
liquidity; the duration and extent of the current soft economic
conditions; the impact of global instability including the
continuing impact of the continued military presence in Iraq and
Afghanistan and the terrorist attacks of Sept. 11, 2001 and the
potential impact of future hostilities, terrorist attacks,
infectious disease outbreaks or other global events; changes in
prevailing interest rates; the ability to attract and retain
qualified personnel; the ability of the companies to attract and
retain customers; the cyclical nature of the airline industry;
competitive practices in the industry, including significant fare
restructuring activities by major airlines; the impact of changes
in fuel prices; economic conditions; labor costs; security-related
and insurance costs; weather conditions; government legislation and
regulation; relations with unionized employees generally and the
impact and outcome of the labor negotiations; US Airways' ability
to continue as a going concern; US Airways' ability to obtain court
approval with respect to motions in the Chapter 11 proceedings
prosecuted by it from time to time; the ability of US Airways to
develop, prosecute, confirm and consummate one or more plans of
reorganization with respect to the Chapter 11 proceedings; risks
associated with third parties seeking and obtaining court approval
to terminate or shorten the exclusivity period for US Airways to
propose and confirm one or more plans of reorganization, to appoint
a Chapter 11 trustee or to convert the cases to Chapter 7 cases;
the ability of US Airways to obtain and maintain normal terms with
vendors and service providers; US Airways' ability to maintain
contracts that are critical to its operations; the potential
adverse impact of the Chapter 11 proceedings on US Airways'
liquidity or results of operations; the ability of US Airways to
operate pursuant to the terms of its financing facilities
(particularly the financial covenants); the ability of US Airways
to fund and execute its Transformation Plan during the Chapter 11
proceedings and in the context of a plan of reorganization and
thereafter; and other risks and uncertainties listed from time to
time in the companies' reports to the SEC. There may be other
factors not identified above of which the companies are 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 companies assume no
obligation to publicly update any forward-looking statement to
reflect actual results, changes in assumptions or changes in other
factors affecting such estimates other than as required by law.
Similarly, these and other factors, including the terms of any
reorganization plan of US Airways ultimately confirmed, can affect
the value of US Airways' various prepetition liabilities, common
stock and/or other equity securities. Accordingly, the companies
urge that the appropriate caution be exercised with respect to
existing and future investments in any of these liabilities and/or
securities. Additional factors that may affect the future results
of America West and US Airways are set forth in their respective
filings with the SEC, which are available at
http://www.shareholder.com/americawest/edgar.cfm and
http://investor.usairways.com/edgar.cfm, respectively. ADDITIONAL
INFORMATION AND WHERE TO FIND IT In connection with the proposed
merger transaction, America West Holdings and US Airways Group have
filed a Registration Statement on Form S-4 and other documents with
the Securities and Exchange Commission (Registration No. 333-
126162) containing a preliminary joint proxy statement/prospectus
regarding the proposed transaction. The proxy statement/prospectus
will be mailed to stockholders of America West Holdings after the
registration statement is declared effective by the SEC. WE URGE
INVESTORS TO READ THE REGISTRATION STATEMENT AND PROXY STATEMENT
AND OTHER RELATED MATERIALS CAREFULLY WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
TRANSACTION. Investors will be able to obtain free copies of the
registration statement and proxy statement (when available) as well
as other filed documents containing information about US Airways
Group and America West Holdings at http://www.sec.gov/, the SEC's
Web site. Free copies of America West Holdings' SEC filings are
also available on America West Holdings' Web site at
http://www.shareholder.com/americawest/edgar.cfm, or by request to
Investor Relations, America West Holdings Corporation, 111 West Rio
Salado Pkwy, Tempe, Arizona 85281. Free copies of US Airways
Group's SEC filings are also available on US Airways Group's Web
site at http://investor.usairways.com/edgar.cfm or by request to
Investor Relations, US Airways Group, Inc., 2345 Crystal Drive,
Arlington, VA 22227. This communication shall not constitute an
offer to sell or the solicitation of an offer to buy any
securities, nor shall there by any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended. PARTICIPANTS IN THE SOLICITATION America West Holdings, US
Airways Group and their respective executive officers and directors
may be deemed, under SEC rules, to be participants in the
solicitation of proxies from America West Holdings' stockholders
with respect to the proposed transaction. Information regarding the
officers and directors of America West Holdings is included in its
definitive proxy statement for its 2005 Annual Meeting filed with
the SEC on April 15, 2005. Information regarding the officers and
directors of US Airways Group is included in its 2004 Annual Report
filed with the SEC on Form 10-K on March 1, 2005. More detailed
information regarding the identity of potential participants, and
their interests in the solicitation, will be set forth in the
registration statement and proxy statement and other materials to
be filed with the SEC in connection with the proposed transaction.
DATASOURCE: US Airways CONTACT: David Castelveter of US Airways,
+1-703-872-5100 Web site: http://www.usairways.com/
Copyright
America West (NYSE:AWA)
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America West (NYSE:AWA)
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