May 7, 2009 (FinancialWire) — US Airways Group, Inc. (NYSE: LCC) plans to make concurrent offerings of 15.2 million shares of common stock and $75 million of its convertible senior notes due 2014. Citi (NYSE: C) and Morgan Stanley (NYSE: MS) are the joint book-running managers for both offerings.

The airline plans to grant to the underwriters of the common stock and the notes an option to purchase up to an additional 2.28 million shares of common stock and $11.25 million of the notes to cover over-allotments.

According to US Airways, the notes will be general unsecured senior obligations of US Airways, will pay interest semi-annually at a fixed rate and will be convertible to cash, shares of US Airways’ common stock or a combination of cash and shares.

US Airways said it expects to see gross proceeds of around $150 million from the offerings. The company plans to use the proceeds from the common stock and convertible notes offerings for general corporate purposes.

Tempe, Arizona-based US Airways, along with US Airways Shuttle and US Airways Express, operates more than 3,200 flights per day and serves more than 200 communities in the U.S., Canada, Europe, the Caribbean and Latin America.

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