US Airways Slashes Flights to Panama, El Salvador
11 March 2005 5:00am
Trapped in a financial crisis with no easy way out looming in the horizon, US Airways will call off all Florida-bound nonstop flights from Panama, El Salvador and Puerto Rico’s San Juan come May.
Execs from US Airways, the seventh-largest American carrier, said in a press release published by Panamanian news media this action is part of a cost-cutting strategy that includes the return of eleven Boeing 737 jetliners to their former leasers. The company had just set up shop in Panama a few weeks ago.
Based in Arlington, Virginia, US Airways filed for protection under Chapter 11 of the United States’ Bankruptcy Act, a move that bound it to cut down on costs as a result of spiking oil prices and lower fares in the market.
