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 US Airways Gets $500M Financing

 <p> ARLINGTON, Va. - Bankrupt No. 6 U.S. airline US
Airways Group <UAWGQ.PK> on Thursday said it had secured $500
million in debtor-in-possession financing from the Retirement
Systems of Alabama.</p><p> The carrier also said it entered into a definitive
agreement under which RSA will invest $240 million for 37.5
percent ownership in the restructured company.</p><p> The company said the investment will be coupled with a $1
billion collateralized loan backed by the $900 million federal
guarantee that has been conditionally approved by the Air
Transportation Stabilization Board when it emerges from
bankruptcy. US Airways has said it expects to emerge from
Chapter 11 protection in the first quarter of 2003.</p><p> In addition, US Airways said it agreed with RSA to
restructure various debt obligations in the company's aircraft
debt-restructuring program. RSA currently holds about $340
million of debt obligations related to US Airways' aircraft.
</p>

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