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UNITED STATES FORM 8-K CURRENT REPORT Date of Report April 5, 2005 US Airways Group, Inc. (Exact Names of Registrants as specified in their charters) Delaware US Airways Group, Inc. 54-1194634 2345 Crystal Drive, Arlington, VA 22227 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): (c) Exhibits Designation Description Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized. US Airways, Inc. (REGISTRANT) Date: April 6, 2005 By: /s/ Anita P. Beier US AIRWAYS REPORTS MARCH TRAFFIC ARLINGTON, Va., April 5, 2005 -- US Airways reported its March 2005 passenger traffic today.
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
(Date of earliest event reported)
(Debtor-in-Possession)
(Commission file number: 1-8444)
and
US Airways, Inc.
(Debtor-in-Possession)
(Commission file number 1-8442)
(State of Incorporation US Airways, Inc. 53-0218143
of both registrants) (I.R.S. Employer Identification Nos.)
(Address of principal executive offices)
(703) 872-7000
(Registrants' telephone number, including area code)
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events
On April 5, 2005, US Airways Group, Inc. and US Airways, Inc. issued a news release reporting March 2005 passenger traffic. A copy of the news release is filed as Exhibit 99 to this Form 8-K.
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. Factor
s 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 ability of the Company to maintain adequate liquidity; the ability of the Company to absorb escalating fuel costs; the Company's ability to obtain court approval with respect to motions in the Chapter 11 proceedings 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, to appoint 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; security-related and insurance costs; competiti
ve 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 continued military activities in Iraq; 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 prepetition liabilities, common stock and/or other e
quity 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.
Item 9.01 Financial Statements and Exhibits
- ------------ -----------------
99 News release dated April 5, 2005 of US Airways Group, Inc.
and US Airways, Inc.
SIGNATURES
--------------------
US Airways Group, Inc. (REGISTRANT)
Date: April 6, 2005 By: /s/ Anita P. Beier
Anita P. Beier
Senior Vice President-Finance and Controller
(Chief Accounting Officer)
Anita P. Beier
Senior Vice President-Finance and Controller
(Chief Accounting Officer)
Mainline revenue passenger miles for March 2005 increased 9.6 percent on a 5.2 percent increase in available seat miles, compared to March 2004. The 80.7 percent passenger load factor is a 3.2 percentage point increase compared to March 2004, and the highest for any March in the history of the company.
Revenue passenger miles for US Airways mainline during the first three months of 2005 increased 5.8 percent on a 1.5 percent increase in available seat miles, compared to the same period in 2004. The passenger load factor for January through March 2005 was 73.2 percent, a 2.9 percentage point increase compared to the same period in 2004.
The two wholly owned subsidiaries of US Airways Group, Inc., Piedmont Airlines, Inc. and PSA, Inc., and MidAtlantic Airways, reported a 165.7 percent increase in revenue passenger miles for March 2005, on 127.4 percent more capacity, compared to March 2004. The passenger load factor was 66.4 percent, a 9.6 percentage point increase compared to March 2004.
For the first quarter of 2005, the two wholly owned subsidiaries of US Airways Group, Inc., Piedmont Airlines, Inc. and PSA, Inc., as well as MidAtlantic Airways, reported a 142.7 percent increase in revenue passenger miles for January through March 2005, on 110.7 percent more capacity, compared to the same period in 2004. The passenger load factor was 58.9 percent, a 7.8 percentage point increase compared to the first quarter of 2004.
US Airways ended the month of March 2005 completing 97.9 percent of its scheduled departures compared to 99.2 percent in March 2004.
US AIRWAYS, INC. |
|||||
SELECTED TRAFFIC STATISTICS |
|||||
March |
March |
Percent |
|||
Revenue Passenger Miles (000): |
|||||
Domestic* |
2,898,115 |
2,578,415 |
12.4 |
||
International* |
909,275 |
896,201 |
1.5 |
||
Total - Scheduled Service |
3,807,389 |
3,474,615 |
9.6 |
||
Total (Including Charter) |
3,807,413 |
3,474,615 |
9.6 |
||
Available Seat Miles (000): |
|||||
Domestic* |
3,643,783 |
3,402,520 |
7.1 |
||
International* |
1,076,041 |
1,082,176 |
(0.6) |
||
Total - Scheduled Service |
4,719,823 |
4,484,696 |
5.2 |
||
Total (Including Charter) |
4,719,877 |
4,484,696 |
5.2 |
||
Passengers Boarded* |
4,075,852 |
3,747,426 |
8.8 |
||
System Load Factor* |
80.7 |
77.5 |
3.2 |
||
Average Passenger Journey* |
934.1 |
927.2 |
0.7 |
||
* scheduled service |
|||||
NOTE: Numbers may not add or calculate due to rounding
US AIRWAYS, INC. |
||||||||
FIRST QUARTER 2005 |
||||||||
Jan. - March |
Jan. - March |
Percent |
||||||
Revenue Passenger Miles (000): |
||||||||
Domestic* |
7,367,403 |
6,830,801 |
7.9 |
|||||
International* |
2,277,802 |
2,288,202 |
(0.5) |
|||||
Total - Scheduled Service |
9,645,205 |
9,119,003 |
5.8 |
|||||
Total (Including Charter) |
9,646,143 |
9,120,038 |
5.8 |
|||||
Available Seat Miles (000): |
||||||||
Domestic* |
10,171,190 |
9,891,866 |
2.8 |
|||||
International* |
3,013,836 |
3,095,949 |
(2.7) |
|||||
Total - Scheduled Service |
13,185,026 |
12,987,815 |
1.5 |
|||||
Total (Including Charter) |
13,186,167 |
12,990,268 |
1.5 |
|||||
Passengers Boarded* |
10,252,405 |
9,851,457 |
4.1 |
|||||
System Load Factor* |
73.2 |
70.2 |
2.9 |
|||||
Average Passenger Journey* |
940.8 |
925.7 |
1.6 |
|||||
* scheduled service |
||||||||
NOTE: Numbers may not add or calculate due to rounding.
US AIRWAYS EXPRESS** |
||||||
SELECTED TRAFFIC STATISTICS |
||||||
March |
March |
Percent |
||||
Revenue Passenger Miles (000) |
319,092 |
120,109 |
165.7 |
|||
Available Seat Miles (000) |
480,624 |
211,314 |
127.4 |
|||
Passengers Boarded* |
849,900 |
517,417 |
64.3 |
|||
System Load Factor* |
66.4 |
56.8 |
9.6 |
|||
Average Passenger Journey |
375.4 |
232.1 |
61.7 |
US AIRWAYS EXPRESS** |
||||||
FIRST QUARTER 2005 |
||||||
Jan. - March |
Jan. - March |
Percent |
||||
Revenue Passenger Miles (000) |
733,273 |
302,116 |
142.7 |
|||
Available Seat Miles (000) |
1,243,995 |
590,378 |
110.7 |
|||
Passengers Boarded* |
2,027,623 |
1,328,702 |
52.6 |
|||
System Load Factor* |
58.9 |
51.2 |
7.8 |
|||
Average Passenger Journey |
361.6 |
227.4 |
59.0 |
|||
*scheduled service |
NOTE: Numbers may not add or calculate due to rounding.
- 30 -
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