Manufacturing Industry
Republic Airways provides US Airways with loans of up to USD35m
Airline Industry Information, Oct 23, 2008
AIRLINE INDUSTRY INFORMATION-(C)1997-2008 M2 COMMUNICATIONS LTD
Republic Airways Holdings Inc (NASDAQ:RJET) has reported that it has entered into a loan agreement with US Airways (NYSE:LCC) to provide up to USD35m in two tranches.
The first tranche was USD10m and was funded on 20 October 2008. The second tranche of USD25m may be funded in the first quarter of 2009, at US Airways' option and subject to certain other conditions.
Interest will be paid quarterly and the principal amounts being repaid in the period of October 2009 to October 2011.
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