Fri, Nov 07, 2008
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
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
Events To Highlight Industry Collaboration For Reaching The Planet Mars Leaders from the aerospace community held a press conference at EAA AirVenture on Monday to get the word out>[...]
OSH2014 Sponsor: Aspen Avionics Aspen Avionics specializes in bringing the most advanced technology and capability into general aviation cockpits. Our products increase situational>[...]
Meet Jim Campbell, TODAY/07.28, At EAA Wearhouse, Author's Corner, At 1500 And Get Your Signed Copy of Beyond The Blue!!! To Aviation Journalist and experienced Test Pilot, Jim Cam>[...]
ConciAir Is Here To Return Our Industry To Service! The name ConciAir is a play on the word "concierge", and our goal is to be able to accomplish any task placed before us in a tim>[...]
The Eclipse 550: Economical. Efficient. Incredible. The Eclipse 550 not only has the lowest acquisition cost of any twin-engine jet on the planet, it also has the lowest operating >[...]