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Update on USAir, alive until at least January.

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Here's the most recent info or USAir:

US Air won extensions from two lenders that could help the bankrupt airline avert liquidation in the next few weeks. The extensions run through mid-January and extend agreements that had been set to expire on Friday.

The extensions were granted based on prelimimary wage concessions received from USAir unions.

So, looks like they got a reprieve through at least the holidays. But, for those with FF miles and/or reservations after mid-January, don't be to optimistic quite yet. The real test comes when the banks evaluate how USAir will generate cash in the depths of the winter months.

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