9/11 bailout what happened?
03-12-2008, 07:22 PM
#1
Retired
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Joined APC: Feb 2008
Position: whale wrangler
Posts: 3,527
9/11 bailout what happened?
I,m curious about what happened to the bailout money that WAS to help various carriers and I would like to know what was the outcome to all of this. Did the carriers who received the money pay it back?
I know this is old news and the curiousity factor kind of peaked toniight during layover.
There are old pilots and bold pilots but there are no old bold pilots!
I know this is old news and the curiousity factor kind of peaked toniight during layover.
There are old pilots and bold pilots but there are no old bold pilots!
03-12-2008, 07:51 PM
#3
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Joined APC: Sep 2006
Position: B-737
Posts: 392
I never considered it a bail out. Considering the US Gov was handing out large tax breaks to almost everyone. Except airlines, our taxes were increased. To me it's no different than the Fed lowering interest rates or organizing a treasury swap, the main point is to help BANKS. In that regard the government is "bailing out" banks for using poor judgment with loaning practices.
9-11 was an act of war, as far as I'm concern the government has simply extended to the airlines tax breaks they have given everyone else.
To answer the question, every airline did something different with the money. AMR simply credited it to the income column on the P&L statement. They never accepted any government loan money.
9-11 was an act of war, as far as I'm concern the government has simply extended to the airlines tax breaks they have given everyone else.
To answer the question, every airline did something different with the money. AMR simply credited it to the income column on the P&L statement. They never accepted any government loan money.
03-12-2008, 08:26 PM
#4
APC co-founder
Joined APC: Feb 2005
Position: B777
Posts: 5,853
The ATSB site is still live, there may be some info that can help you there:
http://www.ustreas.gov/offices/domestic-finance/atsb/
http://www.ustreas.gov/offices/domestic-finance/atsb/
03-13-2008, 07:47 AM
#8
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03-13-2008, 07:52 AM
#9
APC co-founder
Joined APC: Feb 2005
Position: B777
Posts: 5,853
There were two components, an initial grant to offset the 4 days the system was shutdown, and the loans. Like any loan, they were based on the perceived ability to repay.
What was interesting is that the two airlines most directly affected by 9/11 (UA and AA) did not receive ATSB loans. UA was denied and AA did not apply.
What was interesting is that the two airlines most directly affected by 9/11 (UA and AA) did not receive ATSB loans. UA was denied and AA did not apply.
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