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LCC - (US Airways)

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LCC - (US Airways)
is the largest low cost/low fare ailine in the U.S.

http://en.wikipedia.org/wiki/Us_airways

on August 11, 2002 the airline entered Chapter 11 bankruptcy;

In early 2003, US Airways management liquidated the pensions of its 6,000 pilots,
sending their pensions to the federal pension program, PBGC (Pension Benefit Guaranty Corp)

US Airways is now out of bankruptcy

on May 19, 2005, US Airways Group merged (was taken over by) America West Airlines


I personally lost money investing in WorldComm

what I learned was that when a company goes through bankruptcy:
the previous stockholders lose their entire investment,
and the company emerges from bankruptcy with a lot of its assets,
but without the previous debt and obligations

Tuesday August 07, 2007 : 07:34 PM

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