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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported):
December 17, 1997
AMERICA WEST HOLDINGS CORPORATION
(Exact name of Registrant as specified in its charter)
<TABLE>
<S> <C> <C>
Delaware 1-12649 86-0847214
(State or other jurisdiction (Commission File No.) (I.R.S. Employer
of incorporation) Identification No.)
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51 W. Third Street
Tempe, Arizona 85281
(Address of principal executive offices) (Zip Code)
(602) 693-0800
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On December 17, 1997, America West Airlines, Inc. ("AWA"), a wholly
owned subsidiary of America West Holdings Corporation, completed the negotiation
of a $100 million secured revolving credit facility, which was arranged by the
Industrial Bank of Japan and syndicated to five additional banks. The press
release announcing the agreement is filed as Exhibit 99.1 to this Current Report
on Form 8-K, and the contents of such Exhibit are incorporated herein by
reference.
On December 18, 1997, the flight attendants of AWA, represented by the
Association of Flight Attendants, voted against the tentative agreement reached
on October 31, 1997, between AWA and the flight attendants' negotiating
committee. The press release announcing the vote is filed as Exhibit 99.2 to
this Current Report on Form 8-K, and the contents of such Exhibit are
incorporated herein by reference.
ITEM 7. EXHIBITS
Exhibit 99.1 -- Press Release dated December 17, 1997.
Exhibit 99.2 -- Press Release dated December 18, 1997.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
AMERICA WEST HOLDINGS CORPORATION
By: /s/ W. Douglas Parker
__________________________________
W. Douglas Parker
Senior Vice President and
Chief Financial Officer
Date: December 23, 1997
Exhibit 99.1
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AMERICA WEST HOLDINGS CORPORATION news RELEASE
Contact: Patty Nowack
Phoenix, AZ (MST)
(602) 693-5729
FOR IMMEDIATE RELEASE: Wednesday, December 17, 1997
AMERICA WEST COMPLETES SECURED REVOLVING CREDIT FACILITY
PHOENIX (NYSE:AWA)-America West Holdings Corporation today announced
that its subsidiary, America West Airlines, Inc., has completed the negotiations
of a $100 million secured revolving credit facility. The facility was arranged
by the Industrial Bank of Japan (IBJ) and syndicated to five additional banks.
This revolving line of credit has a five-year term comprised of a
two-year revolving credit arrangement, with an option to convert outstanding
borrowings into a three-year term loan. Loans under the revolving credit
facility will accrue interest at either prime or a rate based on LIBOR. The
revolving credit facility is secured by certain assets of America West Airlines,
Inc., including the Company's maintenance facility in Phoenix, flight simulators
and spare engines.
"We have had a long relationship with IBJ and appreciate their
continued support of our efforts," said William A. Franke, chairman, America
West Holdings Corporation. "The new revolving line of credit is another
important step in further enhancing the financial strength of the Company and
reflects the capital market's confidence in America West."
America West Holdings Corporation is an aviation and travel services
company with annual sales of more than $1.7 billion. The wholly owned
subsidiary, America West Airlines, the nation's ninth largest airline, serves
more than 90 destinations in the U.S., Canada and Mexico, offering travelers the
same full-service product they have come to expect from other national airlines,
but with low fares. America West Airlines ranked number one in customer
satisfaction among the nine major U.S. carriers for short-haul flights in this
year's Airlines Customer Satisfaction - U.S. Flights Study conducted by Frequent
Flyer magazine and J.D. Power and Associates.
-AWA-
Exhibit 99.2
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AMERICA WEST AIRLINES NewsRELEASE
PHONE 602-693-5729 - FAX 602-693-5546 - INTERNET http://www.americawest.com
AMERICA WEST AIRLINES' FLIGHT ATTENDANTS VOTE AGAINST RECOMMENDED AGREEMENT
PHOENIX, Dec. 18 /PRNewswire/ -- America West Airlines (NYSE: AWA) has
been informed that its flight attendants, represented by the Association of
Flight Attendants (AFA), voted against the tentative agreement reached between
the Airline and the flight attendants' negotiating committee. The tentative
agreement was reached on Oct. 31, 1997. The negotiating committee, national AFA
and AFA Local 66 Master Executive Council, including President and Negotiating
committee member Deborah Volpe, had unanimously recommended the agreement for
ratification.
"We are surprised and disappointed to learn that the tentative
agreement reached with the leadership of AFA was not approved by the flight
attendants," said Bruce Johnson, senior vice president, human resources. "The
Company and AFA's negotiating committee worked hard and in good faith and
delivered a contract which met the AFA's goals of significant pay increases,
improved benefits, flexible work schedules and clear work rules."
Contract negotiations between the Company and the AFA will resume in
the new year and will continue throughout the coming months. Under National
Mediation Board rules, the parties must continue negotiations until an agreement
is reached or the parties are released into a 30-day cooling-off period. Neither
party can take any action until after the expiration of the cooling off period.
-AWA-
