Government to make a profit from loan guarantee to America West
Saturday, 05 Oct, 2005
0
After the World Trade Center terrorist attack, the helped America West Airlines by guaranteeing a $429 million emergency loan package in return for stock options.
In an unusual twist for the government, not only will it receipt the interest and principal payments on the loan, but earn $116 million in the sale of the stocks from US Airways, the newly merged airline with America West in a deal completed last week.
Charles Kao
Have your say Cancel reply
Most Read
TRAINING & COMPETITION
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Storm Lilian travel chaos as bank holiday flights cancelled