Milemaster From United States of America, joined Mar 2001, 1072 posts, RR: 2
Reply 1, posted (10 years 2 weeks 1 day 2 hours ago) and read 2853 times:
"Because the state Transportation Finance Authority is forbidden by statute from making loans to businesses, the assistance to ATA is being arranged as an asset sale and leaseback."
"The state authority will borrow up to $15.5 million from Bank One to buy spare airline parts, tools and other equipment. Then, it will lease those assets to the Indianapolis International Airport, which in turn would lease them back to ATA."
Wow.. that doesn't sound shady or a clear circumvention of the TFA statute at all.
Good luck with that one ATA. Must've been some horrific loan rates that were offered if a lease of a lease from a 3rd party makes better fiscal sense.
STLGph From United States of America, joined Oct 2004, 9494 posts, RR: 26
Reply 3, posted (10 years 2 weeks 21 hours ago) and read 2771 times:
Go Indiana! I think this is good news and just shows support for the hometown Indy carrier. In all honesty, I am surprised it isn't more money though, must be preparing for that new airport terminal and that new stadium for the Colts ;p
Best of luck to ATA. I'll be flying them in January.
if assumptions could fly, airliners.net would be the world's busiest airport
LV From United States of America, joined Jun 2001, 2007 posts, RR: 0
Reply 4, posted (10 years 2 weeks 13 hours ago) and read 2744 times:
Actually, the new proposed stadium for the Colts is paid for by a special restaruant (sorry, cant spell that word to save my life) tax that is in effect only in Indianapolis city limits (all of Marion county)
The money for all the airport inprovments, including the new terminal are supposedly coming from landing fees, so basically FedEx is going to end up paying for about half of the new terminal if what the airport authority is telling the public is true.
In fact, the airport's fortunes may hinge more on the business of moving cargo, not people. Nearly half of the airport's landing fees are collected from freight giant FedEx, which houses its second-largest air hub in Indianapolis.