(RTTNews) - US Airways Group, Inc. (LCC: News ) on Tuesday announced several measures to boost its near-term and future liquidity, including deferral of the delivery of 54 Airbus aircraft to 2013 and beyond. The company also said it will reduce capital expenditures over the next three years, eliminate the need to access aircraft finance markets in 2010 and extend certain debt maturities.

The Tempe, Arizona-based company noted that the transactions will improve its projected year-end 2009 liquidity by about $150 million and at the end of 2010 by $450 million.

Doug Parker, Chairman and CEO of US Airways said, "This is our third major strategic move in the past 100 days, following announcements of our innovative slot transaction with Delta Air Lines and the realignment of our network to focus on our most profitable flying. These moves are part of our continuing efforts to improve our balance sheet and return the company to profitability."

The company noted that the deferral of 54 Airbus aircraft previously scheduled for delivery between 2010 and 2012 to 2013 and beyond will reduce its aircraft capital expenditures over the next three years by about $2.5 billion, and reduce near- and medium-term obligations to Airbus and others by approximately $132 million.

The company also said that commencement of its Airbus A350 XWB operations, with delivery of aircraft originally slated to start in 2015, will now be postponed until 2017. However, the company noted that the deferrals will not significantly alter the airline's capacity plans as aircraft originally scheduled to be replaced will be retained until the rescheduled new aircraft delivery dates.
Derek Kerr, Executive Vice President and Chief Financial Officer of US Airways said, "Although we will slow deliveries during the next three years, over that period we will continue to modernize our fleet, which is already one of the youngest in the United States. The company will take delivery of two A320 and two A330 aircraft in 2010 and an additional 24 A320 family aircraft in 2011 and 2012."

Kerr added, "We have financing commitments for all 28 aircraft and believe this is a more manageable delivery rate given the current economic environment."

US Airways also said it has arranged credit facilities of $95 million and $180 million of aircraft financing commitments for the aircraft to be delivered in 2010. In addition, the company has agreed with Barclays plc (BCS, BARC.L) to permanently reduce the amount of monthly unrestricted cash it needs to have on hand as a condition for the advance purchase of frequent flyer miles. The company will also defer for 14 months the amortization of $200 million advanced in connection with the previous purchase of miles.

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