US Airways Group Inc filed a new business plan with a Virginia bankruptcy court on Thursday and said it was on track to complete its merger with America West Airlines by autumn. Many details of the plan have been disclosed in recent days in regulatory and bankruptcy court filings, including plans for a $150 million rights offering for shares of the merged carrier.
America West shareholders and key unsecured creditors will be given a chance to purchase stock at $16.50.
The merged company, which would fly under the US Airways flag and be based at America West headquarters in Tempe, Arizona, would be controlled by private investors.
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