NYTimes.com Article: CORRECTED: US Airways Names Bronner Chairman

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CORRECTED: US Airways Names Bronner Chairman

April 4, 2003
By REUTERS






Filed at 3:01 p.m. ET NEW YORK ( Reuters) - US Airways
Group Inc., which emerged from Chapter 11 bankruptcy
protection on Monday, said on Friday its board of directors
named David Bronner, the chief executive of the Retirement
Systems of Alabama, as its new chairman.

The pension fund had given the No. 7 U.S. carrier, which is
based in Arlington, Virginia, a $240 million infusion in
exchange for a 37 percent ownership stake. Bronner replaces
Stephen Wolf as US Airways' (USALA.PK) non-executive
chairman. David Siegel, who became chief executive in March
2002, will retain that role and run the airline's
day-to-day operations.

``Dr. Bronner and RSA have been extremely supportive
throughout our restructuring and share this management's
full enthusiasm for the direction the company has charted
to prosper,'' Siegel said in a press statement.

US Airways on Thursday posted a $98 million net loss for
February on revenues of $473.8 million, compared with a
January net loss $98.7 million on revenues of $477 million.
The airline has cut jobs by 36 percent and annual costs by
$1.9 billion, and obtained $1 billion of private financing
backed by a $900 million federal loan guarantee.

US Airways, which emerged from bankruptcy in fewer than
eight months, still expects to lose money in 2003 and 2004.


http://www.nytimes.com/reuters/business/business-airlines-usairways-bronner.html?ex=1050490005&ei=1&en=1334c924b4beb6e4



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