Mesa Ch. 11 Plan Gives US Airways 10% Stake

Law360, New York (September 20, 2010, 7:01 PM EDT) -- Regional airline Mesa Air Group Inc. has filed a Chapter 11 reorganization plan and disclosure statement detailing how it foresees keeping planes in the air while paying its creditors back, which includes giving partner US Airways Inc. a large stake in the company.

Mesa expects to get back on its feet by issuing new common stock by its ultimate corporate parent, Reorganized Mesa Air Group, as well as by minting new 8 percent notes and taking other financial measures, according to a disclosure statement filed Friday...
To view the full article, register now.