US Airways to Close MetroJet Operation
US Airways Group Inc. said it will shut down MetroJet, its low-cost operation based at Baltimore-Washington International Airport, by December.
“As a result of the government’s and public’s reaction to [the Sept. 11] terrorist attacks, and the closing of Washington’s Reagan National Airport, a new security system and a dramatic decrease of airline traffic, we have to reduce our costs dramatically,” the company said in a recorded message for employees.
US Airways spokesman Richard Weintraub confirmed the accuracy of the recorded message but declined to elaborate.
The move came as the carrier learned that its largest independent shareholder, Tiger Management Corp., gave up its 25% ownership of the airline’s shares.
Shares of Arlington, Va.-based US Airways rose 69 cents to $5.24 on the NYSE.
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