US Airways Group Inc and its largest creditor, General Electric Co, amended their aircraft restructuring agreement on Monday to give the carrier 30 more days to file a reorganisation plan, the airline said. While a bankruptcy judge in Alexandria, Virginia, has given the airline until the end of March to submit its new business plan without interference from third parties, US Airways had agreed with General Electric Co's aircraft financing unit late last year to file the plan before February 15.
US Airways now says it hopes to file a plan by March 15.
GE holds leases on most US Airways aircraft, and the sweeping agreement last November to restructure aircraft debt gave the seventh-largest domestic carrier a temporary lifeline. The agreement still calls for US Airways to emerge from Chapter 11 by June 30.
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