Exhibit 99.2



                                        Contact:  Mike Brown
                                                360-448-4255



   Consolidated Freightways' Interim DIP Financing Approved

     Company to Rehire Some Drivers and Terminal Workers
              to Facilitate Customer Deliveries

     VANCOUVER, Wash. - Sept. 6, 2002 - Consolidated
Freightways Corp. (CFC) (NASDAQ: CFWEQ) reported today that
it received interim approval from the Bankruptcy Court for
$225 million in debtor-in-possession financing.
     At the same time, the company said it is re-opening
certain terminals and bringing back as many drivers and
terminal employees as necessary to expedite customer
shipments remaining in the CFC system.
     "With Court approval of our first-day requests, we can
continue to work on the issues at hand: satisfying employee
obligations, moving remaining freight to customers, and
expediting liquidation of the business," said John Brincko,
who joined the company as CEO three months ago.
     "Each of our employees has been notified either in
person, by phone or in writing as to the events of the past
few days, and we are on the phone with customers working to
get their freight to them as quickly as possible."
     Mr. Brincko further stated that "customer service has
always been our chief concern, and in rehiring drivers and
terminal employees, we have taken positive steps to ensure
that all shipments are completed."
     In orders issued yesterday, the Court approved, on an
interim basis, the company's $225 million debtor-in-
possession (DIP) financing line from General Electric
Capital Corporation (GECC).  The final hearing to approve
the DIP line will be held in early October.  The DIP
facility, including approximately $40 million in new
financing, will be available to the company to proceed with
an orderly liquidation.
                           -more-
                             -2-

     Yesterday the company also obtained approval to pay its
employees certain pre-petition wages and to direct the banks
to honor employee paychecks.
     Consolidated Freightways,  which is headquartered in
Vancouver, Wash., filed for bankruptcy protection Tuesday
and plans to liquidate the business in an orderly manner.
Its CF AirFreight, Canadian Freightways Ltd. and Grupo
Consolidated Freightways, S.A. de RL subsidiaries continue
to operate as usual.  Additional information about the
company's Chapter 11 filings can be obtained online at
www.cacb.uscourts.gov.
     Certain statements in this press release are forward-
looking statements that are subject to material risks and
uncertainties. Investors are cautioned that any such forward-
looking statements are not guarantees of future performance
or results and involve risks and uncertainties, and that
actual results or developments may differ materially from
those expressed or implied in the forward-looking statements
as a result of various factors that are discussed in the
company's filings with the Securities and Exchange
Commission. These risks and uncertainties include, but are
not limited to, uncertainties relating to general economic
and business conditions, the availability and cost of
capital and matters relating to or in connection with the
bankruptcy filing of the company and some of its
subsidiaries.  These risks and uncertainties also include
matters arising out of the company's delay in filing with
the Securities and Exchange Commission its Form 10-Q for the
quarter ended June 30, 2002 and the announced delisting of
the company's common stock by Nasdaq.  Additional
information regarding risks, uncertainties and other factors
that may affect the business and financial results of the
company can be found in the company's filings with the
Securities and Exchange Commission.  The company does not
undertake to update any forward-looking statements in this
press release or with respect to matters described herein.

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