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Article: Panel Delays Consideration of Federal Loan Guarantee for United Parent.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- November 7, 2002
CopyrightCOPYRIGHT 2002 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 John Schmeltzer, Chicago Tribune Knight Ridder/Tribune Business News
Nov. 7--The Air Transportation Stabilization Board on Wednesday delayed consideration of a federal loan guarantee for UAL Corp. pending receipt of additional information.
The decision came a day after more than a dozen UAL executives spent seven hours briefing the board and its staff on an updated application that calls for $5.8 billion in labor concessions and $7.7 billion in savings and revenue enhancements.
It was those components of the updated business plan that the board said it needed substantially more information before the application for the $2 billion ...