NY Times predicts US Airways bankruptcy by Sunday.
The New York Times reports that U.S. Airways will certainly seek bankruptcy protection this Sunday according to people briefed on the situation at the airline. The airline is considering a bankruptcy without debtor-in possession financing (they would probably have a hard time getting it) and will rely on cash on hand to finance its operations and would explore whether it needed additional financing in the future. The pilots union is meeting again today to try and resolve their differences over the airline's latest proposal that was voted down two days ago. The airline is scheduled to make a $110 million contribution to its employee pension plans this Wednesday although it's doubtful that will happen.