America West Airlines Stock Jumps

[dbaker]

America West Airlines Stock Jumps

PHOENIX (AP) -- Buoyed by a $380 million loan guarantee from the federal government, America West Airlines' stock soared 41 percent Monday and shares of other major carriers rose in sympathy.

The Tempe, Ariz.-based airline received conditional approval for the loan guarantee late Friday, the first carrier to be awarded a portion of the multibillion package passed by Congress after the Sept. 11 attacks. Under terms of the deal, the government would repay up to $380 million of $445 million in loans America West has negotiated contingent on government backing.

[dbaker]

America West Airlines Stock Jumps

PHOENIX (AP) -- Buoyed by a $380 million loan guarantee from the federal government, America West Airlines' stock soared 41 percent Monday and shares of other major carriers rose in sympathy.

The Tempe, Ariz.-based airline received conditional approval for the loan guarantee late Friday, the first carrier to be awarded a portion of the multibillion package passed by Congress after the Sept. 11 attacks. Under terms of the deal, the government would repay up to $380 million of $445 million in loans America West has negotiated contingent on government backing.