Read us | Listen to us | Watch us | Join Live Events | Turn Off Ads | Live |

Click on your language to translate this article:

Afrikaans Afrikaans Albanian Albanian Amharic Amharic Arabic Arabic Armenian Armenian Azerbaijani Azerbaijani Basque Basque Belarusian Belarusian Bengali Bengali Bosnian Bosnian Bulgarian Bulgarian Catalan Catalan Cebuano Cebuano Chichewa Chichewa Chinese (Simplified) Chinese (Simplified) Chinese (Traditional) Chinese (Traditional) Corsican Corsican Croatian Croatian Czech Czech Danish Danish Dutch Dutch English English Esperanto Esperanto Estonian Estonian Filipino Filipino Finnish Finnish French French Frisian Frisian Galician Galician Georgian Georgian German German Greek Greek Gujarati Gujarati Haitian Creole Haitian Creole Hausa Hausa Hawaiian Hawaiian Hebrew Hebrew Hindi Hindi Hmong Hmong Hungarian Hungarian Icelandic Icelandic Igbo Igbo Indonesian Indonesian Irish Irish Italian Italian Japanese Japanese Javanese Javanese Kannada Kannada Kazakh Kazakh Khmer Khmer Korean Korean Kurdish (Kurmanji) Kurdish (Kurmanji) Kyrgyz Kyrgyz Lao Lao Latin Latin Latvian Latvian Lithuanian Lithuanian Luxembourgish Luxembourgish Macedonian Macedonian Malagasy Malagasy Malay Malay Malayalam Malayalam Maltese Maltese Maori Maori Marathi Marathi Mongolian Mongolian Myanmar (Burmese) Myanmar (Burmese) Nepali Nepali Norwegian Norwegian Pashto Pashto Persian Persian Polish Polish Portuguese Portuguese Punjabi Punjabi Romanian Romanian Russian Russian Samoan Samoan Scottish Gaelic Scottish Gaelic Serbian Serbian Sesotho Sesotho Shona Shona Sindhi Sindhi Sinhala Sinhala Slovak Slovak Slovenian Slovenian Somali Somali Spanish Spanish Sudanese Sudanese Swahili Swahili Swedish Swedish Tajik Tajik Tamil Tamil Telugu Telugu Thai Thai Turkish Turkish Ukrainian Ukrainian Urdu Urdu Uzbek Uzbek Vietnamese Vietnamese Welsh Welsh Xhosa Xhosa Yiddish Yiddish Yoruba Yoruba Zulu Zulu

US$35 million loan from Air Wisconsin part of US Airways’ US$950 million financing package

airplanesmoney
airplanesmoney
Written by editor

APPLETON, WI – Air Wisconsin Airlines Corporation announced today it has agreed to provide a $35 million loan to US Airways, Inc.

APPLETON, WI – Air Wisconsin Airlines Corporation announced today it has agreed to provide a $35 million loan to US Airways, Inc. The loan has an initial term of twelve months with optional, monthly extensions totaling an additional twelve months, provided certain conditions are met. The loan agreement is part of the comprehensive, liquidity program US Airways announced on October 23, through which it raised a total of approximately US$950 million of financing and near-term, liquidity commitments. On October 20, 2008, US Airways closed on approximately US$800 million of these transactions, which included the US$35 million in proceeds from Air Wisconsin.

“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. “This investment represents a continuation of the strong partnership between Air Wisconsin and US Airways, and demonstrates our support for the US Airways team and the actions they have taken to navigate a very difficult economic environment.”

US Airways Express president Dion Flannery said, “We are extremely appreciative of the commitment Air Wisconsin made two weeks ago as a part of our comprehensive, liquidity program and greatly value their support. We will work diligently so our customers continue to benefit from our partnership and look forward to succeeding together.”

Air Wisconsin, the largest, privately-held, regional airline in the United States, has operated its entire fleet of 70 Canadair Regional Jets as US Airways Express since establishing a partnership with US Airways in 2005. In addition to its flying operations, which schedules nearly 500 departures per day to 69 cities in 26 states and two Canadian provinces, Air Wisconsin performs ground-handling services for United Express and Northwest Airlines at over 30 locations throughout the country, including Washington Dulles (IAD).