US Airways Seeks to Cut Labor Costs
Bloomberg News
US Airways Group Inc. said it would attempt to shave $950million in annual labor expenses as part of a restructuring plan that would include requesting a $1-billion loan guarantee from the U.S. government.
The carrier needs to shore up finances after a record loss last year of $2.1 billion and daily losses this year.
Shares of Arlington, Va.-based US Airways rose 14 cents to $3.24 on the NYSE.
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