Second restructuring plan in 12 months aims to reduce costs by 40% as airline fights to stave off liquidation US Airways president and chief executive David Siegel is urging employees to accept major changes to the airline's operations, including massive cost cuts, a pricing system overhaul and a revision of its network, to stave off liquidation. The restructuring should reduce the airline's costs by 40%. "We are currently a ¢10 [cost per available seat mile] carrier. We will become a ¢6 carrier," says Siegel. The move follows a recent warning from the airline's auditor KPMG in a US Securities and Exchange Commission filing that US Airways' current state "raises substantial doubt about its ability to continue as a going concern". That statement was enhanced by Siegel's own threat that a probable credit downgrade would end the airline's current restructuring plans.