Business Services Industry
Biggest US Airlines Ask Government for Multi-Billion Dollar Aid Package.
Knight Ridder/Tribune Business News, March, 2003
Sunday Business, London Knight Ridder/Tribune Business News
Mar. 24--Leading US airlines, most of them fighting off bankruptcy, are furiously lobbying the American federal government for multi-billion dollar aid packages which European rivals say will give them a major competitive advantage on North Atlantic routes.
The US Air Transport Association (ATA) is trying to prise a $9 billion (UKpound 5.8 billion, E8.5 billion) tax holiday from the government, while a congressman is pushing legislation that, if passed, would provide US airlines with more loan guarantees, extended war risk insurance and direct grants worth up to $5 billion.
Without tax concessions to buffer the impact of the war, the ATA is warning of "chaotic industry...
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