US Airways' Largest Shareholder Sells Half Its Stock

US Airways (NYSE: LCC) has said PAR Investment Partners LP, US Airways' largest shareholder, has sold a total of 6.5m shares of its 13.5m shares of US Airways stock as part of its portfolio diversification strategy.

PAR was an original investor in US Airways' merger with America West in September 2005 and subsequently acquired additional shares in early 2006 in two private transactions.

After this sale PAR Investment Partners will reportedly remain one of US Airways' largest investors and US Airways will remain the largest position within PAR's investment portfolio. In addition, PAR Capital Management vice president Edward Shapiro will retain his seat on the US Airways board of directors.

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