US Airways 2007 Annual Report Download - page 26

Table of Contents
to acquire control of our company to negotiate with our board of directors, they could enable our board of directors to prevent a
transaction that some, or a majority, of our stockholders might believe to be in their best interests and, in that case, may prevent or
discourage attempts to remove and replace incumbent directors. In addition, US Airways Group is subject to the provisions of
Section 203 of the Delaware General Corporation Law, which prohibits business combinations with interested stockholders. Interested
stockholders do not include stockholders, such as our equity investors at the time of the merger, whose acquisition of US Airways
Group's securities is approved by the board of directors prior to the investment under Section 203.
Our charter documents include provisions limiting voting and ownership by foreign owners.
Our amended and restated certificate of incorporation provides that shares of capital stock may not be voted by or at the direction of
persons who are not citizens of the United States if the number of shares held by such persons would exceed 24.9% of the voting stock of
our company. In addition, any attempt to transfer equity securities to a non-U.S. citizen in excess of 49.9% of our outstanding equity
securities will be void and of no effect.
Item 1B. Unresolved Staff Comments
None.
Item 2. Properties
Flight Equipment
We operated a mainline fleet of 356 aircraft at the end of 2007 (supported by approximately 232 regional jets and approximately
104 turboprops that provide passenger feed into the mainline system), down from a total of 359 mainline aircraft at the end of 2006.
During 2007, we removed nine Boeing 737-300 aircraft and three Boeing 757-200 aircraft from our mainline fleet and took delivery of
nine Embraer E190 aircraft.
On October 2, 2007, US Airways and Airbus executed definitive purchase agreements for the acquisition of 92 aircraft, including 60
single-aisle A320 family aircraft and 32 wide-body aircraft, including 22 A350 Xtra Wide Body ("XWB") aircraft and ten A330-200
aircraft. These are in addition to the 37 single-aisle A320 family aircraft from the previous Airbus purchase agreement. On November 15,
2007, US Airways and Airbus amended the A330 Purchase Agreement, adding an additional five firm A330-200 aircraft.
In 2008, we expect to take delivery of an additional 14 Embraer E190 aircraft and five Airbus A321 aircraft. Between 2009 and
2011, we expect to take delivery of 83 Airbus aircraft, consisting of 68 Airbus A320 family and 15 A330-200 aircraft under the purchase
agreements as well as lease two A330-200 aircraft in accordance with a letter of intent with an aircraft lessor.
As of December 31, 2007, we had 94 aircraft that have lease expirations prior to the end of 2010. This includes lease expirations for
41 Boeing 737-300 and eight Boeing 737-400 aircraft that are being replaced by Airbus A320 family aircraft to be delivered under the
Airbus purchase agreement discussed above. The 45 remaining lease expirations are for Boeing 757, Boeing 767, Airbus A319 and
Airbus A320 aircraft, which provides some flexibility to decrease capacity and related aircraft obligations in the event of an industry
downturn or an operational need for different aircraft.
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