Alabama’s pension fund U.S. Airways is a partner.
Alabama’s pension funds met on Thursday, U.S. Airways as a “major partner of the reorganization of bankrupt airlines, trumping a Texas investment group offers to rescue the company.
Hours before the hearing of a draft U.S. Bankruptcy Court, the airline and its creditors, during the latter in a capful of $ 240 million investment from many of the Retirement Systems of Alabama.
U.S. Bankruptcy Judge Stephen Mitchell approved on a provisional basis Deal at the RSA would get 37.5 percent of the U.S. Airways action if it is composed of bankruptcy, the company expects in spring 2003.
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