US Airways files for bankruptcy
US Airways has filed for bankruptcy; the first major US airline to do so since 11 September.
The airline and its subsidiaries have applied to the US Bankruptcy Court for financial reorganisation under Chapter 11 of the Bankruptcy Code. This means that the airline is given relief from paying debtors while restructuring takes place.
A statement from the airline said: “It is important that our valued passengers and other constituents understand that US Airways is not going out of business. Chapter 11 gives us time to renegotiate contracts with key aircraft lessors and financiers and return aircraft no longer needed. Every ticket will be honored and accepted; refunds and exchanges will be in accordance with current US Airways policies”.
US Airways has suffered under the prolonged closure of Reagan National Airport in Washington, which although not a hub is one of the carriers nonstop destinations, and handles around 230 US Airways departures a day. High security costs and a depressed US economy have also contributed to US Airways’ losses, estimated to be more than £1 billion in the last year.
US Airways president and chief executive, David Siegel said: “Ultimately, this effort is about our customers, employees, and the communities we serve, as we seek to fix the airline’s finances and return to profitability”. The carrier hopes to re-emerge from bankruptcy by the first quarter of 2003.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Global tourism exceeds 1.5 billion travelers announces UN-Tourism
Qatar Airways offers reduced timetable to over 60 destinations
WTTC global tourism reached record economic impact of 11 trillion in 2025
Marginal increase for New York City tourism in 2025
Hands In, UATP join forces for airline multi-card payments