NYTimes.com Article: US Airways Narrowed Loss in February

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US Airways Narrowed Loss in February

April 4, 2003
By BLOOMBERG NEWS






ARLINGTON, Va., April 3 - The US Airways Group, which
emerged from bankruptcy protection this week, posted a
smaller net loss in February than in January even as
revenue decreased from the prior month.

The company said the February loss was $98 million on
revenue of $474 million compared with a $99 million loss on
$477 million in revenue the month before.

US Airways cut labor costs, including both union and
nonunion workers, by 37 percent through wage and benefit
reductions and contract changes to increase productivity.
The company is financing its operations with a $1 billion
loan in addition to a $240 million investment from
Retirement Systems of Alabama as it shifts to a a new
business plan.

http://www.nytimes.com/2003/04/04/business/04USAI.html?ex=1050466150&ei=1&en=36bb48ebd80efcad



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