SInGAPORE_AIR
Posts: 11621
Joined: Mon Nov 13, 2000 4:06 am

US Govt. Gives America West $400 Mil Loan

Sat Dec 29, 2001 5:54 pm

Lifeline for America West

The Bush administration has announced conditional approval for a loan of nearly $400m to save the airline America West from bankruptcy.
America West is one of many airlines in the United States which have struggled to stay in business since passenger numbers fell drastically after the 11 September attacks on New York and Washington.

It is the first beneficiary of a potential $15bn rescue package for the aviation industry agreed by President Bush and Congress
Anyone can fly, only the best Soar.
 
tsully
Posts: 680
Joined: Tue Mar 20, 2001 5:02 pm

RE: US Govt. Gives America West $400 Mil Loan

Sat Dec 29, 2001 6:10 pm

Let's see...that should buy AWA about 22 more days...

Its good to see some jobs temporarily saved, but if I were working at AW, I'd be doing some serious job seeking right about now.

Enough pessimism; I hope they can surprise me by beating the odds and pulling out of their tailspin before the hit rock bottom.
I love America. I guess that makes me Bush's poodle, but I'd rather be a dog in New York City than a prince in Riyadh.
 
Guest

RE: US Govt. Gives America West $400 Mil Loan

Sat Dec 29, 2001 8:09 pm

Actually, it would last them about 1 year at their Sept. 30 rate of burning, so it should last even longer as they lose less and less every week.

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