TEMPE, Arizona_US Airways Group Inc. said Wednesday it plans to refinance up to $1.6 billion (€1.21 billion) in loans and unsecured debt through Citigroup Global Markets, Inc. and Morgan Stanley Senior Funding, Inc.
US Airways officials said they want to refinance $1.25 billion (€940 million) in loans originally from Airbus, General Electric and the federal Air Transportation Stabilization Board's loan program. Those loans were refinanced into one package last year and will now be refinanced again. The ATSB loan was obtained by the former US Airways and America West Airlines following the 2001 terrorist attacks.
The carrier also plans to refinance $325 million (€246 million) in unsecured debt stemming from America West's acquisition of US Airways in 2005.
US Airways expects to complete the transaction by the end of the first quarter 2007.
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