In bankruptcy court hearings yesterday, former US Airways CFO David M.
Davis testified that the company could report profits of $25-30 million in 2007 if it gets the $1 billion in cost savings from its labor unions. Without the $1 billion, the company could begin liquidation by mid January. US Airways executives are considering outsourcing, seeking potential investors for the $250 million exit financing and studying additional ways to cut costs for the struggling airline.
See "Airline Pins Profit Hopes on Labor Concessions", Keith L. Alexander, The Washington Post, December 9, 2004