US Airways Receives Cash Infusion From Regional Carrier | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne 09.29.14 ** HD iPad-Friendly -- Airborne 09.29.14**
** Airborne 09.26.14 ** HD iPad-Friendly -- Airborne 09.26.14 **
** Airborne 09.24.14 ** HD iPad-Friendly -- Airborne 09.24.14 **

Fri, Nov 07, 2008

US Airways Receives Cash Infusion From Regional Carrier

Air Wisconsin Lends Airline $35 Million

US Airways is getting by with a little help from its friends. Air Wisconsin Airlines revealed Thursday it plans to provide the carrier with a $35 million loan, as part of a larger $950 million financing plan US Airways announced in October.

The Milwaukee Journal-Sentinel reports the loan has a 12-month initial term, though US Airways may opt to double that timeframe for additional penalties, and assuming certain conditions are met.

Air Wisconsin is a regional subsidiary for US Airways.

"As the regional carrier operating the largest fleet of US Airways Express aircraft, Air Wisconsin remains committed to supporting US Airways success," said Air Wisconsin president and CEO Jim Rankin.

US Airways reports it has closed on roughly $800 million in new funding as of October 20. Half that amount will be used to pay down interest against the  $1.6 billion bank debt the airline carries, with the balance going toward normal operating costs.

There's no doubt, we're talking serious money here... as the loan amount from Air Wisconsin alone could buy 17.5 million Cokes onboard US Airways flights!

FMI: www.usairways.com

Advertisement

More News

Airborne 09.29.14: Young Eagle Tragedy, Overdue Hoover Honors, Paperplane Record

Also: Low-Flying F16, UAVs For The Movie, Aerobatic Pilot Bails Out, Bombardier Safety Stand Down, MVP Takes On The World We are sad to report that a Young Eagle flight went down o>[...]

Airborne 09.29.14: Young Eagle Tragedy, Overdue Hoover Honors, Paperplane Record

Also: Low-Flying F16, UAVs For The Movie, Aerobatic Pilot Bails Out, Bombardier Safety Stand Down, MVP Takes On The World We are sad to report that a Young Eagle flight went down o>[...]

Airborne 09.26.14: A320neo First Flight, Aspen ESV Trial, Garmin Flies G5000

Also: Sea Lynx Grounding, AEA's Ric Peri On FAR 145, Union v Allegiant, Wingboarding--Anyone? Things went off as planned in Toulouse, France yesterday morning when the A320neo made>[...]

ANN's Daily Aero-Linx (09.30.14)

DOT Rule for Passengers Traveling with Lithium Batteries The issue has come to the forefront as more people may soon begin traveling with small UAVs, most of which are powered by t>[...]

ANN's Daily Aero-Term (09.30.14): Filed En Route Delay

Any of the following preplanned delays at points/areas along the route of flight which require special flight plan filing and handling techniques.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC