US Airways defers 54 Airbus deliveries
US Airways today announced that it has secured financing for, but will defer the deliveries of 54 Airbus aircraft.
The airline will now take delivery of these aircraft from 2013, previously scheduled for 2010-2012.
The carrier believes this move will cut capital expenditure by USD2.5b.
The carrier will take delivery of two Airbus A320s and two Airbus A330s next year. 12 A320s each will be taken delivery of in 2011 and 2012, down from 48. Three A330s scheduled for 2011 will move to 2013.
The carrier has also secured USD95m in new loans and USD180m in aircraft financing. It has also reached a deal with Barclays to permanently lower its monthly unrestricted cash obligations.
US Airways management believes these transactions will improve its liquidity by USD150m by end-2009 and by USD450m by end-2010.
No Comments