US Airways Group Inc. today announced that its proposed Chapter 11 bankruptcy reorganization plan and merger with America West Holding Corp., Tempe, Ariz., was overwhelmingly approved by the Arlington, Va.-based airline's creditors. All that remains is approval from the U.S. Bankruptcy Court in Alexandria, Va., before US Air emerges from bankruptcy. A hearing of the reorganization plan is scheduled for Thursday morning.
"We have worked enthusiastically to put together a robust plan that will benefit our customers, our stakeholders and our employees. The result will be a more stable and more competitive US Airways," said Bruce R. Lakefield, CEO.