Ual777contrail From , joined Dec 1969, posts, RR: Posted (11 years 9 months 1 day 10 hours ago) and read 1072 times:
i thought some airlines didnt put in for bailout money?
i thought that the only majors were UNITED and of coarse america west.
here is what they got.
AMERICAN $656 MILLION
UNITED $724 MILLION
DELTA $594 MILLION
NORTHWEST $405 MILLION
CONTINENTAL $343 MILLION
US AIRWAYS $287 MILLION
SOUTHWEST $ 264 MILLION
AMERICA WEST $110 MILLION
I didnt think some of the airlines wanted the federal backed loans?
Goingboeing From United States of America, joined Dec 1999, 4875 posts, RR: 17
Reply 2, posted (11 years 9 months 1 day 10 hours ago) and read 1046 times:
The funds in the article you read were compensation for the federally mandated shutdown of the air traffic system in the days following 9/11. As STT757 points out, every airline got them, regardless of their size. So far, only HP has recieved a loan although U, UAL, FRNT, and others have applied for the government backed loans.
Srbmod From , joined Dec 1969, posts, RR:
Reply 8, posted (11 years 9 months 16 hours ago) and read 980 times:
I think that they whole concept of the Federally-backed loans is corporate welfare at its worst. I mean when they gave the airlines money because of the ground hold, some of those that got it really didn't deserve to get it. I mean Midway, they announce on Sept. 12th, that they were shutting down for good, and returned their aircraft to their lessors. But when they get their "free money" for the Feds, they decide to restart again. Midway should have used that money to pay off debts and other expenses, not restart operations. What they did would be the same as giving a junkie drugs or the money to get drugs. I think that the Federal government getting into the airline business is a very bad idea. It's bad enough that between the TSA and the whole Homeland Security (more like Homeland Insecurity if you ask me) thing, the airlines are suffering enough, but to have the government with shares in the airlines that take out the loans is the equivalent of putting the wolf in the field with the sheep. I think that the airlines should have put up physical assets (aircraft, GSE, properties) instead of stock as collateral, because if these airlines go belly up, the stock will essentially be toilet paper, while if they had physical assets, the government could sell those off to get back as much of the loan as they can. Could you imagine a government auction of aircraft? Lot #312411, one Airbus A321, low cycles, low hours, one owner. The bidding starts @ $15 million.....................