USAir Group sells three subsidiaries

July 18, 1992|By Mensah Dean | Mensah Dean,Staff Writer

In an effort to streamline operations, USAir Group Inc. of Arlington, Va., sold yesterday three subsidiaries that provide general aviation services, repairs and aircraft parts.

The airline said it sold Piedmont Aviation Services Inc., Air Service Inc. and Aviation Supply Corp. to Piedmont Holding Inc., which is owned by Valley Air Services Inc. in Altoona, Pa.

The three companies will remain, respectively, in Winston-Salem and Greensboro, N.C., and Atlanta, USAir said.

"The focus of USAir Group will be on scheduled airline service," Chief Executive Seth E. Schofield said in a statement. "Our resources of management time and capital will remain concentrated on the operations of USAir, the principal subsidiary of USAir Group, as well as our four regional airline subsidiaries."

USAir, the largest airline at Baltimore-Washington International Airport and the nation's seventh-largest commercial airline, acquired the three companies in 1989 when it bought Piedmont Airlines, which was based in North Carolina.

USAir officials would not release terms of the transaction.

Last year, USAir lost $300 million on revenue of $6.5 billion. During this year's first quarter, the company lost $63 million on revenue of $1.7 billion.

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