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November 16, 2009

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Big Vegas carrier seeks federal loan guarantee

Wednesday, Nov. 14, 2001 | 9:44 a.m.

WASHINGTON -- America West Airlines applied Tuesday for $400 million in federal loan guarantees, becoming the first airline to seek the aid created in the aftermath of the September terrorist attacks.

America West, the No. 2 carrier in Las Vegas, is still losing $1 million a day, said America West CEO Douglas Parker, a significant improvement from the $5 million it was losing each day immediately following the terrorist attacks.

"We need liquidity to make it through," said Parker of the $400 million loan application. "That is enough assistance to enable America West to weather any significant downturn."

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