US Airways to Hold Meeting for Investors

US Airways Group Inc. invited some bondholders to a meeting in New York on Thursday to discuss the airline’s financial restructuring and the potential effect on their investments.

The meeting is for investors whose bonds are backed by some of the carrier’s older aircraft and whose debt payments have been deferred, the company said in a notice to those bondholders. Some investors are frustrated by what they consider the company’s lack of communication on the missed payments and suggestions that US Airways may seek debt relief.

The seventh-largest U.S. airline has been seeking to reduce annual costs by $1.3 billion through concessions from workers, creditors and suppliers. Arlington, Va.-based US Airways has said it needs to cut costs to avoid a bankruptcy filing and to win final approval for a $900-million U.S. loan guarantee.

In late June, the carrier deferred payments to some aircraft lessors and private lenders and began discussions seeking concessions from them. Early last month, the company said it also would defer payments to holders of some of its public debt. Some investors holding the public debt have said they may balk at providing relief.

The meeting will give bondholders information on the status of the restructuring effort, said US Airways spokesman Chris Chiames, declining to further comment.