Manufacturing Industry
US Airways granted loan guarantee
Airline Industry Information, July 11, 2002
AIRLINE INDUSTRY INFORMATION-(C)1997-2002 M2 COMMUNICATIONS LTD
US Airways has been awarded a conditional USD900m loan guarantee from the Bush Administration.
The airline must secure labour and other concessions and offer the government a large stake in its business as collateral in order to obtain the USD900m guarantee of a USD1bn loan.
The Air Transportation Stabilisation Board - created to financially help struggling airlines after the 11 September terrorist attacks - approved the loan as it feels the airline will be able to repay the amount.
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COPYRIGHT 2002 M2 Communications Ltd.
COPYRIGHT 2002 Gale Group
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