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Citing the drop-off in travel after Sept. 11 and pre-attack financial problems, US Airways filed for Chapter 11 bankruptcy protection Sunday.The airline,
stanley cup which had mentioned bankruptcy as a possibility after it lost $2.1 billion during 2001, said all of its flights are expected to continue. The Arlington, Va.-based airline said it received $500 million in financing to keep operating while it reorganizes. We had a lot of older aircraft that had very high lease costs, we had labor costs that were the top of the industry, and given the competitive environment and the lingering recession, we could not be profitable, said vice president Chris Ciames. Washington Reagan Airport was closed for a long period, he added. We are the largest carrier here, so we clearly took the brunt of the financial impact of Sept. 11. With no interruption in service, passengers took the news in stride. I have absolute faith and hope that this will be just
stanley kubek fine. I think it s something that s just part of the American economy, said a passenger at the Washington airport. For passengers flying on US Airways the next couple of weeks they won t see any difference, Christian Science Monitor travel industry reporter Alexandra Marks told CBS Radio News. It s going to be just the same, this is a behind-the-scenes financial reorganization, but I think in the long term passengers will see a change in the public spoke system. And it was business as usual Monday morning at the Charlotte, N.C
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