US Airways has suffered a $248 million second-quarter net loss (compared with $24 million in 2001) and a 24% drop in sales to $1.9 billion - "an enormous disappointment", according to chief executive Dave Siegel. The airline has $3.8 billion in debt and is losing $1 million in cash every day. Meanwhile, US Airways has signed a letter of intent with Midway Airlines to make it a US Airways Express carrier. Midway, which filed for Chapter 11 protection after the September attacks, has temporarily suspended operations. It will operate as US Airways Express from October, employing at least 50% of previously furloughed US Airways pilots on five Bombardier CRJs.
Source: Flight International
