February 22, 1999 Hotline

February 22, 1999

ALPA, Intl

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America West Airlines conducted a press
conference at 3:30 PM today in front of the Hayden Square building. America West Holdings
Chairman and CEO Bill Franke told the assembled crowd of employees and media that
discussions of interest in the acquisition of interest in America West Airlines have been
terminated.

The following press release was issued by
the company:

“America West Holdings Corporation
(NYSE: AWA) said today that it has terminated consideration of expressions of interest in
the acquisition of America West. ‘In discharging its fiduciary obligation to
shareholders, and after careful review of the highly conditioned expressions of interest
and of antitrust, regulatory and employee issues, the board of directors unanimously
concluded that America West’s shareholders, employees and the communities we operate
in will be better served by a growing, profitable and independent company,’ said Bill
Franke, chairman and chief executive officer. ‘As we have stated on numerous
occasions, we believe we have significant strategic opportunities. We have positioned the
airline with a low cost structure, a flexible fleet plan, a strong balance sheet, growing
hubs and committed employees. We are confident about the Company’s future as an
independent airline.’”

After reading his statement, Mr. Franke
took a short break, then answered questions from the media for just under 10 minutes.
Numerous questions were asked, but Mr. Franke said very little of substance that was not
already covered in either his remarks or the press release.

The MEC will have more comments after
reflecting on the press release. We will have more in this week’s regular Hotline
update, and other information can be obtained from Pilot-to-Pilot volunteers and committee
chairmen in the near future.

The next regularly scheduled Hotline update
will be Thursday, February 25^th. Other interim updates will be posted as they
are needed.

Fly safely; fly your contract; and wear
your pins and ribbons.

• America West Ends Discussions with Other Airlines