The Air Transportation Safety and System Stabilization Act, signed into law September 22, 2001, authorizes the board to issue up to $10 billion in federal loan guarantees to air carriers for which credit is not otherwise available and where "such agreement is a necessary part of maintaining a safe, efficient and viable commercial aviation system in the United States."[1]
America West Airlines - Survives, repays ATSB loans with interest. America West management team takes over US Air during US Air's bankruptcy becoming US Airways, stock symbol LLC. Goes on to merge with American Airlines during American Airlines bankruptcy again with America West CEO W. Douglas Parker and his former America West Airlines team at the helm of the new American Airlines.
Still in Business and holding on in life supportedit
Frontier Airlines - reorganizes after a chapter 11 bankruptcy filing and is acquired by Republic Airways Holdings and then the private investment group Indigo Partners.
Casualtiesedit
Aloha Airlines - shut down in a chapter 7 bankruptcy filing.
American Trans Air - acquired by the private equity firm MatlinPatterson's Global Aero Logistics and shut down in chapter 7 bankruptcy filing.
Evergreen International Airlines
World Airways - acquired by the same group as ATA and also shut down by the same private equity firm
Referencesedit
^ATSB Loan Guarantees,. Archived from the original on 2008-02-20. Retrieved 2008-02-26.
^"A Painful Lesson in Politics" (PDF). public.alpa.org. May 2006.
External linksedit
U.S. Treasury - Air Transportation Stabilization Board. Archived from the original on 2010-08-11. Retrieved 2010-08-22.
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transportation, stabilization, board, atsb, office, united, states, department, treasury, created, assist, airlines, wake, september, 2001, attacks, transportation, safety, system, stabilization, signed, into, september, 2001, authorizes, board, issue, billion. The Air Transportation Stabilization Board ATSB is an office of United States Department of the Treasury created to assist US airlines in the wake of the September 11 2001 attacks The Air Transportation Safety and System Stabilization Act signed into law September 22 2001 authorizes the board to issue up to 10 billion in federal loan guarantees to air carriers for which credit is not otherwise available and where such agreement is a necessary part of maintaining a safe efficient and viable commercial aviation system in the United States 1 Contents 1 Loan guarantees 2 ATSB Results 2 1 Successes 2 2 Still in Business and holding on in life support 2 3 Casualties 3 References 4 External linksLoan guarantees editBetween 2001 and 2003 the ATSB approved applications for loan guarantees from seven carriers America West Airlines US Airways American Trans Air Aloha Airlines Frontier Airlines Evergreen International Airlines and World Airways These carriers accepted loan guarantees worth 1 179 billion Ultimately the government benefited from the program drawing 300 million in profit 2 The ATSB denied applications from nine carriers Ozark Airlines dba Great Plains Airlines MEDjet International Corporate Airlines Gemini Air Cargo Frontier Flying Service Spirit Airlines National Airlines and both initial and revised applications from United Airlines and Vanguard Airlines ATSB Results editSuccesses edit America West Airlines Survives repays ATSB loans with interest America West management team takes over US Air during US Air s bankruptcy becoming US Airways stock symbol LLC Goes on to merge with American Airlines during American Airlines bankruptcy again with America West CEO W Douglas Parker and his former America West Airlines team at the helm of the new American Airlines Still in Business and holding on in life support edit Frontier Airlines reorganizes after a chapter 11 bankruptcy filing and is acquired by Republic Airways Holdings and then the private investment group Indigo Partners Casualties edit Aloha Airlines shut down in a chapter 7 bankruptcy filing American Trans Air acquired by the private equity firm MatlinPatterson s Global Aero Logistics and shut down in chapter 7 bankruptcy filing Evergreen International Airlines World Airways acquired by the same group as ATA and also shut down by the same private equity firmReferences edit ATSB Loan Guarantees U S Treasury Air Transportation Stabilization Board Loan Guarantees Archived from the original on 2008 02 20 Retrieved 2008 02 26 A Painful Lesson in Politics PDF public alpa org May 2006 External links editU S Treasury Air Transportation Stabilization Board U S Treasury Air Transportation Stabilization Board Archived from the original on 2010 08 11 Retrieved 2010 08 22 GAO State Of the U S Commercial Airline Industry and Possible Issues for Congressional Consideration nbsp This United States government related article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Air Transportation Stabilization Board amp oldid 1191028569, wikipedia, wiki, book, books, library,
