US Airways delays vesting of stock in restructuring for 30 days

By Carlise Newman

Chicago, June 2 - US Airways Group Inc. reached an agreement with the unions representing its employee groups to delay for 30 days the scheduled June 1 vesting of the first portion of stock to be distributed in accordance with the company's restructuring.

The extension will allow the unions and the US Airways to explore all available alternatives to distribute stock in a way that will provide the best result for employees and other shareholders, according to a press release.

Arlington, Va.-based US Airways emerged from Chapter 11 on March 31. Its previous stock was cancelled as part of that process, and the company is continuing to seek all options as it prepares to distribute the new stock to employees, unsecured creditors and others participating in the Company's restructuring.

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