KarlB737
Topic Author
Posts: 2634
Joined: Sat Mar 20, 2004 9:51 pm

Indiana Aims To Set Up $15 Million Loan For ATA

Wed Nov 10, 2004 5:26 am

 
milemaster
Posts: 995
Joined: Tue Mar 20, 2001 10:19 am

RE: Indiana Aims To Set Up $15 Million Loan For ATA

Wed Nov 10, 2004 11:22 am

"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.  Insane

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.
 
LV
Posts: 1546
Joined: Mon Jun 04, 2001 6:02 am

RE: Indiana Aims To Set Up $15 Million Loan For ATA

Wed Nov 10, 2004 12:14 pm

I am willing to bet that as a taxpayer of Indiana I'm going to end up paying for this  Sad
 
stlgph
Posts: 8986
Joined: Tue Oct 12, 2004 4:19 pm

RE: Indiana Aims To Set Up $15 Million Loan For ATA

Wed Nov 10, 2004 4:25 pm

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
Posts: 1546
Joined: Mon Jun 04, 2001 6:02 am

RE: Indiana Aims To Set Up $15 Million Loan For ATA

Thu Nov 11, 2004 12:25 am

STL Gph,
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.
 
ATAFAN
Posts: 36
Joined: Thu Oct 21, 2004 1:12 pm

RE: Indiana Aims To Set Up $15 Million Loan For ATA

Thu Nov 11, 2004 1:02 am

I had thought that It would be more too. Oh well! I am leaving this Sat on ATA Can't wait!
 
n685fe
Posts: 337
Joined: Fri Dec 12, 2003 7:01 am

RE: Indiana Aims To Set Up $15 Million Loan For ATA

Thu Nov 11, 2004 1:15 am

http://www.indystar.com/articles/3/187597-3343-223.html

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.

psp. lead by example