US Airways Common Stock to Cease Trading on Nasdaq
15 September 2004 - 9:20AM
PR Newswire (US)
US Airways Common Stock to Cease Trading on Nasdaq ARLINGTON, Va.,
Sept. 14 /PRNewswire-FirstCall/ -- US Airways Group, Inc.
securities will cease trading on The Nasdaq Stock Market effective
with the opening of business on Sept. 22, 2004. US Airways received
written notification on Sept. 13, 2004, from Nasdaq that its
securities will be delisted in accordance with Marketplace Rules
4300 and 4450(f). As a result of the notification, the fifth
character "Q" will be appended to the company's trading symbol,
which will change from UAIR to UAIRQ at the opening of business on
Sept. 15, 2004. Once delisted, shares could still be traded in the
"Over-The-Counter" market, which the company does not control. The
company urges that the appropriate caution be exercised with
respect to existing and future investments in any of these
securities. It is entirely possible that ultimately no value will
be ascribed to the company's existing common stock and/or other
equity securities. Investors and other interested parties can
monitor the progress of the reorganization via the Internet at
http://www.transformingusairways.com/. In addition, the investor
relations section of the company's Web site can be accessed under
the "About US Airways" section of http://www.usairways.com/.
Certain of the statements contained herein should be considered
"forward- looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, which reflect the current
views of US Airways Group (the "Company") with respect to current
events and financial performance. You can identify these statements
by forward-looking words such as "may," "will," "expect," "intend,"
"anticipate," "believe," "estimate," "plan," "could," "should," and
"continue" or similar words. These forward-looking statements may
also use different phrases. Such forward-looking statements are and
will be, as the case may be, subject to many risks, uncertainties
and factors relating to the Company's operations and business
environment which may cause the actual results of the Company to be
materially different from any future results, express or implied,
by such forward-looking statements. Factors that could cause actual
results to differ materially from these forward-looking statements
include, but are not limited to, the following: the ability of the
Company to continue as a going concern; the ability of the Company
to obtain and maintain any necessary financing for operations and
other purposes, whether debtor-in-possession financing or other
financing; the Company's ability to obtain court approval with
respect to motions in the Chapter 11 proceeding prosecuted by it
from time to time; the ability of the Company to develop,
prosecute, confirm and consummate one or more plans of
reorganization with respect to the Chapter 11 proceedings; risks
associated with third parties seeking and obtaining court approval
to terminate or shorten the exclusivity period for the Company to
propose and confirm one or more plans of reorganization, for the
appointment of a Chapter 11 trustee or to convert the cases to
Chapter 7 cases; the ability of the Company to obtain and maintain
normal terms with vendors and service providers; the Company's
ability to maintain contracts that are critical to its operations;
the potential adverse impact of the Chapter 11 proceedings on the
Company's liquidity or results of operations; the ability of the
Company to operate pursuant to the terms of its financing
facilities (particularly the financial covenants); the ability of
the Company to fund and execute its Transformation Plan during the
Chapter 11 proceedings and in the context of a plan of
reorganization and thereafter; the ability of the Company to
attract, motivate and/or retain key executives and associates; the
ability of the Company to attract and retain customers; the ability
of the Company to maintain satisfactory labor relations; demand for
transportation in the markets in which the Company operates;
economic conditions; labor costs; financing availability and costs;
aviation fuel costs; security-related and insurance costs;
competitive pressures on pricing (particularly from lower-cost
competitors) and on demand (particularly from low-cost carriers and
multi-carrier alliances); weather conditions; government
legislation and regulation; impact of the Iraqi war and the Iraqi
occupation; other acts of war or terrorism; and other risks and
uncertainties listed from time to time in the Company's reports to
the SEC. There may be other factors not identified above of which
the Company is not currently aware that may affect matters
discussed in the forward-looking statements, and may also cause
actual results to differ materially from those discussed. The
Company assumes no obligation to update such estimates to reflect
actual results, changes in assumptions or changes in other factors
affecting such estimates other than as required by law. Similarly,
these and other factors, including the terms of any reorganization
plan ultimately confirmed, can affect the value of the Company's
various pre-petition liabilities, common stock and/or other equity
securities. Accordingly, the Company urges that the appropriate
caution be exercised with respect to existing and future
investments in any of these liabilities and/or securities.
DATASOURCE: US Airways CONTACT: David Castelveter of US Airways,
+1-703-872-5100 Web site: http://www.usairways.com/
http://www.transformingusairways.com/
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