TEMPE, Ariz.--(BUSINESS WIRE)--Sep. 22, 2009--
US Airways Group, Inc. (NYSE: LCC) ("US Airways" or the "Company")
announced today the sale of 26,315,790 shares of its common stock to
Citi, as underwriter in the public offering of those shares. The Company
granted Citi an option to purchase up to an additional 3,947,369 shares
of common stock solely to cover over-allotments, if any. Completion of
the sale is subject to customary closing conditions, and the sale is
expected to close on September 28, 2009.
The Company plans to use the proceeds for general corporate purposes.
The shares of common stock are being offered under the Company's
existing effective shelf registration statement. 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 the prospectus supplement and the accompanying prospectus may
be obtained from Citi at Citi Brooklyn Army Terminal, 140 58th
Street, 8th Floor, Brooklyn, NY 11220 or by phone at
800-831-9146.
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.
US Airways, along with US Airways Shuttle and US Airways Express,
operates more than 3,000 flights per day and serves more than 200
communities in the U.S., Canada, Europe, the Middle East, the Caribbean
and Latin America. The airline employs more than 32,000 aviation
professionals worldwide and is a member of the Star Alliance network,
which offers its customers more than 17,000 daily flights to 916
destinations in 160 countries worldwide.
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 outlook, expected fuel costs, revenue and
pricing environment, and expected financial performance of US Airways
Group (the "Company"). Such statements include, but are not limited to,
statements about the anticipated closing of the offering described, the
benefits of the business combination transaction involving America West
Holdings Corporation (“America West Holdings”) and the Company,
including future financial and operating results, the Company's 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 Company's management and are subject to
significant risks and uncertainties that could cause the Company's
actual results and financial position to differ materially from these
statements. Such risks and uncertainties include, but are not limited
to, the following: the impact of future significant operating losses;
the impact of economic conditions and their impact on passenger demand
and related revenues; a reduction in the availability of financing;
changes in prevailing interest rates and increased costs of financing;
the Company's high level of fixed obligations and the ability of the
Company to obtain and maintain any necessary financing for operations
and other purposes and operate pursuant to the terms of its financing
facilities (particularly the financial covenants); the impact of fuel
price volatility, significant disruptions in fuel supply and further
significant increases to fuel prices; the Company’s ability to maintain
adequate liquidity; labor costs, relations with unionized employees
generally and the impact and outcome of the labor negotiations,
including the ability of the Company to complete the integration of the
labor groups of the Company and America West Holdings; reliance on
vendors and service providers and the ability of the Company to obtain
and maintain commercially reasonable terms with those vendors and
service providers; reliance on automated systems and the impact of any
failure or disruption of these systems; the impact of the integration of
the Company’s business units; the impact of changes in the Company’s
business model; competitive practices in the industry, including
significant fare restructuring activities, capacity reductions or other
restructuring or consolidation activities by major airlines; the impact
of industry consolidation; the ability to attract and retain qualified
personnel; the impact of global instability including the potential
impact of current and future hostilities, terrorist attacks, infectious
disease outbreaks or other global events; government legislation and
regulation, including environmental regulation; the Company's ability to
obtain and maintain adequate facilities and infrastructure to operate
and grow the Company's route network; costs of ongoing data security
compliance requirements and the impact of any data security breach;
interruptions or disruptions in service at one or more of the Company's
hub airports; the impact of any accident involving the Company's
aircraft; delays in scheduled aircraft deliveries or other loss of
anticipated fleet capacity; weather conditions and seasonality of
airline travel; the cyclical nature of the airline industry; the impact
of insurance costs and disruptions to insurance markets; the impact of
foreign currency exchange rate fluctuations; the ability to use NOLs and
certain other tax attributes; the ability to maintain contracts critical
to the Company's operations; the ability of the Company to attract and
retain customers; and other risks and uncertainties listed from time to
time in the Company's reports to and filings with the SEC. 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
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. Additional factors that may affect the future
results of the Company are set forth in the section entitled "Risk
Factors" in the Company's Report on Form 10-Q for the quarter ended June
30, 2009 and in the Company's filings with the SEC, which are available
at www.usairways.com.
-END-
Source: US Airways Group, Inc.
US Airways Group, Inc.
Dan Cravens, 480-693-5729