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Article: United Airlines Hopes for Second Chance at $1.6 Billion Loan Guarantee.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 19, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Melissa Allison, Chicago Tribune Knight Ridder/Tribune Business News
Jun. 19--United Airlines scrambled Friday to prove that it deserves another shot at a $1.6 billion loan guarantee that the government said the carrier did not need to emerge from bankruptcy.
United parent UAL Corp. was turned down for the guarantee on Thursday by the Air Transportation Stabilization Board.
But the airline asked for one more chance to present its case, according to sources in Washington. Agencies for two of the board's three voting members issued written statements on Thursday saying they would reconsider the application if United came forward with ...