US Airways, the nation’s seventh largest airline, filed for bankruptcy protection Sunday for the second time in two years. The company’s president vowed to continue restructuring the airline into a low-cost carrier during the bankruptcy process. The Chapter 11 filing in US Bankruptcy Court in Virginia came after US Airways was unable to obtain $800 million in annual cost cuts from its workers’ unions that the airline said it needed to stay afloat.
US Airways Files for Bankruptcy
HeadlineSep 13, 2004