US Airways seeks OK of $48 million sale of aircraft, spare engines

By Caroline Salls

Pittsburgh, June 16 - US Airways, Inc. requested court approval for the $48 million sale of 10 Boeing 737 aircraft and three spare engines to JetPartners, LLC, according to a Wednesday filing with the U.S. Bankruptcy Court for the Eastern District of Virginia.

The company said an analysis of its flight schedules, aircraft and engine types and costs, projected demand for air travel, labor costs and other business factors showed the aircraft and spare engines are no longer necessary to continuing operations.

US Airways said the decision to accept JetPartners' offer for the aircraft and engines came after a marketing process under which it initially contacted 80 to 90 potential buyers.

JetPartners will make a $4.8 million escrow payment.

US Airways, an Arlington, Va.-based carrier, filed for bankruptcy on Sept. 12, 2004. Its Chapter 11 case number is 04-13819.

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