06-28-2004, 11:54 PM
Join Date: Sep 2001
ATSB denies loan to United again
NEW YORK (CNN/Money) - A panel has rejected a third request for federal loan guarantees from bankrupt United Airlines, saying Monday it will not entertain any more requests for help from the nation's troubled No. 2 airline. |
United, a unit of UAL Corp. (UALAQ: Research, Estimates), had cut back its request for a loan guarantee to $1.1 billion, but the Air Transportation Stabilization Board, which earlier this month rejected a request for $1.6 billion in guarantees, said its three members had unanimously decided to reject the request.