EmailEmail
PrintPrint
US Airways gets a new investor
Sunday, May 29, 2005

US Airways has found yet another investor willing to lift it out of bankruptcy and support its planned merger with America West Airlines.

Wellington Management Company, a Boston investment fund with $470 billion in assets under management, agreed recently to provide the Arlington, Va.-based airline with an additional $150 million, according to new documents filed with the U.S. Bankruptcy Court in Alexandria, Va.

Wellington, founded in 1928, joins four other investors committed to $350 million in new equity capital, including Air Canada, Air Wisconsin Airlines and two investment funds.

Unlike some of the other new investors, however, Wellington will not have a spot on the new board of directors of the merged US Airways-America West, nor will it be entitled to a break-up fee if the union falls apart, according to court documents.

First published on May 29, 2005 at 12:00 am