U.S. to Get $116 Million on Sale of Stock Options
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The federal government will pocket $116 million from the sale of stock options it received for guaranteeing an emergency loan package to the former America West Airlines after the terrorist attacks of Sept. 11, 2001.
That’s in addition to the interest and principal payments it will collect on the $429-million loan package the airline received as it struggled with a drop in travel after the attacks.
The carrier and US Airways Inc. merged last month under the US Airways name.
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* Delta Air Lines Inc. became the latest carrier to announce flight cutbacks because of high fuel costs in the wake of hurricanes Katrina and Rita. Delta said it would notify affected passengers a few days in advance and will try to offer them choices about rescheduling flights.
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