Manufacturing Industry
American Trans Air to receive USD148.5m loan guarantee
Airline Industry Information, Sept 27, 2002
AIRLINE INDUSTRY INFORMATION-(C)1997-2002 M2 COMMUNICATIONS LTD
The US Air Transportation and Stabilisation Board has conditionally approved a USD148.5m loan guarantee for American Trans Air.
The Indianapolis-based airline will reportedly receive the federal backing on a USD165m loan subject to certain conditions. The conditions include paying the board additional fees and stock warrants.
The board approved the loan unanimously after the airline "demonstrated a reasonable assurance that it will be able to repay the loan according to its terms," The Associated Press reported.
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