America West Holdings
From Wikipedia, the free encyclopedia
America West Holdings Corporation is an Arizona-based company owned by US Airways Group Inc. Its primary holding is America West Airlines.
America West's corporate offices in Tempe are housed in one of the first commercial high-rise buildings constructed in the downtown area, featuring a unique "airfoil" motif in the shape of its roof.
[edit] History
In December, 2004, America West Holdings Corporation announced interest in buying part of ATA Airlines, but did not submit a bid.
On May 19, 2005 the corporation and US Airways Group Inc. announced plans to merge their operations.
On September 27, 2005, the acquisition of US Airways Group Inc. was completed.
[edit] Acquisition of US Airways Group
On April 20, 2005 it was announced that America West Holdings Corporation was in talks with US Airways Group Inc., which owns US Airways, regarding a possible acquisition of the latter. As reported in the press, US Airways would create a new holding company. Shares in that company would be given to America West Holdings shareholders as well as creditors of US Airways.
On May 19, 2005, America West Holdings Corporation and US Airways Group Inc. announced plans to merge their operations. The Wall Street Journal reported that Doug Parker, America West's chief executive, said the merger would create "the nation's first full-service airline with the customer-friendly pricing structure of a low-fare carrier." The proposed combined airline hopes to achieve profitibility by cutting $600 million a year in costs. New equity investors, including Air Wisconsin Airways Corporation and ACE Aviation Holdings, the parent company of Air Canada, pledged to invest a total of $350 million in the new company. Later investments increased the total new equity raised to $565 million. Of that, ACE Aviation (which, like US Airways, is a Star Alliance member) would contribute $75 million for a 7% ownership stake. ACE Aviation would also receive a five-year, C$1.5 billion (US$1.19 billion) contract to maintain all of the merged company's mainline jets. ACE Aviation would also provide other services for the new company, including ground handling, training, and operation of regional jets. Such cooperation is expected to bring more traffic to Air Canada from the merged carriers, and could lead to a code-sharing alliance in the future, the Journal reported.
On September 13, 2005, America West's shareholders voted to approve the merger agreement. 95.5 percent of shareholders approved the transaction. See: results of shareholder voting.
On September 16, 2005, the US Bankruptcy Court approved USAirways Chapter 11 Plan of Reorganization, clearing the way for the merger to be closed as soon as September 27, 2005. For the merger approval announcement see Plan of Reorganization Approval
The Journal characterized the merger proposal as "[offering] a huge break to US Airways and potentially [carrying] big risks for America West," which is in better fiscal shape. In the weeks leading up to the merger announcement, Phoenix-area media reported that local passengers worried about cuts in service to the city's Sky Harbor International Airport, where America West has its largest hub; such things have happened before when US Airways (or a predecessor company) merged with a regional airline. But while the new company would operate under the US Airways name, management would be led by America West Airlines managers and would be located at America West's Phoenix headquarters.
Under terms of the merger agreement, America West Holdings was merged into Barbell Acquisition Corporation, a subsidiary of US Airways Group Inc., on September 27, 2005, with America West Holdings as the surviving company. All of the currently operating airlines will retain their current names and continue operating until 2007. Details on how the various operations will be merged will be resolved at a future date and will need to be approved by the FAA where they affect operating procedures.
[edit] Divisions
- America West Airlines
- America West Express
- America West Vacations This division provides vacation packages that include airfare, accommodations and optional rental cars at selected destinations. These are only offered for destinations that America West flies to or offers as a code share destination.
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America West Airlines • America West Express • Piedmont Airlines • PSA Airlines • US Airways • US Airways Express • America West Holdings Corporation |
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