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Friday, November 7, 2008

Air Wisconsin in Loan to LCC

Following a similar loan from Republic Airways Holdings, Air Wisconsin Airlines Corporation is providing $35 million to US Airways, Inc for an initial term of twelve months with optional monthly extensions totaling an additional twelve months, provided certain conditions are met. Related Story
The loan agreement is part of the comprehensive liquidity program US Airways announced on Oct. 23, through which it raised a total of approximately $950 million of financing and near-term liquidity commitments. On October 20, US Airways closed on approximately $800 million of these transactions, which included the $35 million in proceeds from Air Wisconsin

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