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Article: US Airways Federal Loan Guarantee Approved by Air Transportation Stabilization Board.
- Article from:
- PR Newswire
- Article date:
- February 11, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. 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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US Airways President and Chief Executive Officer David Siegel expressed his appreciation today following notification by the Air Transportation Stabilization Board (ATSB) that it had unanimously approved its $900 million federal guarantee of a $1 billion loan for the airline.
"We are gratified by the ATSB's action today, and its vote of confidence in our company's restructuring and prospects for long-term success. The management team has been joined by our employees in making difficult decisions that were necessary to ensure that our airline would not be a victim of September 11, and instead, would be shaped into a vigorous competitor," said Siegel. "We are on ...