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
Date of Report (Date of Earliest Event Reported): February 10, 1994
AMERICA WEST AIRLINES, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State of Incorporation)
1-10140 86-0418245
(Commission File No.) (I.R.S. Employer Identification No.)
51 W. Third Street
Tempe, Arizona 85281
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (602) 693-0800
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Item 5. Other Events.
On February 10, 1994, America West issued the press release, attached
hereto as an exhibit, reporting that it had filed a motion with the U.S.
Bankruptcy Court to prohibit the sale or other transfer of any general
unsecured claims, debentures or shares of any class of stock.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit No. Description
99 Press Release of the Company dated
February 10, 1994
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SIGNATURES
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 hereunto duly authorized.
AMERICA WEST AIRLINES, INC.
Date: February 11, 1994 By /s/ A. E. Frei
Alphonse E. Frei
Senior Vice President-Finance
AMERICA WEST AIRLINES
FILES MOTION TO PRESERVE TAX ASSETS OF THE ESTATE
PHOENIX, AZ (FEB. 10) (NASDAQ:AWAQC; PSE: AWA) -- America West
Airlines has filed a motion with the U.S. Bankruptcy Court to prohibit the
sale or other transfers or any general unsecured claims, debentures or
shares of any class of stock of America West, to attempt to preserve the
estate's tax assets. Such transfers in sufficient numbers and amounts
could, under current tax law, jeopardize the preservation of the airline's
net operating loss and business tax credit carryforwards, the value of which
after reorganization could approximate $400 million.
"Transfers of claims have become a significant concern based on
recent trading activity in America West stock and approaches to holders of
our general unsecured claims, for purchase of those claims," said W.A.
Franke, chairman and chief executive officer of America West. "It is
imperative that as part of protecting the Company's value for potential
investors upon reorganization we attempt to preserve these sizeable tax
benefits in the form of net operating loss and business tax credit
carryforwards," he added.
Franke said that significant changes in stock ownership or major
shifts in ownership among the Company's creditors could, under current tax
law, materially impair the value of the past net operating losses to offset
the tax liability of the newly reorganized company.
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