US Airways

History:

US Airways can trace its roots all the way back to 1939 with the founding of All American Aviation Company which brought air mail service to Western Pennsylvania and the Ohio Valley. However, the airline was essentially born more recently, with the mergers of Allegheny Airlines with Mohawk Air in 1972 and then the subsequent acquisitions of Pacific Southwest Airlines and Piedmont Airlines in 1987 which lead to the formation of a new airline called US Air. In 1990 the airline added its first international routes and in 1993 British Airways injected $300 Million of capitol into US Air to aid its reorganization. For years, US Airways enjoyed high yields with their domination of short-haul business routes throughout the Eastern US. But the numerous mergers left the company with a bloated cost structure. When stronger competition accompanied the industry downturn starting in 2001, US Airways filed for bankruptcy in 2002 and again in 2004. Facing liquidation in late winter 2005, America West came to the rescue, initiating a merger with the larger carrier that took them out of bankruptcy and created what is today the 5th largest US based airline in terms of revenue.