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November 28, 2009

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San Francisco airport, LV firm resolve payment issues

Thursday, Oct. 10, 2002 | 11:20 a.m.

Las Vegas-based National Airlines will pay its debts to San Francisco International Airport, resolving an issue that could have derailed approval of a $30 million loan that is part of a $112 million debtor-in-possession financing package announced by the company last month.

Douglas Jessop, a Denver-based attorney for the San Francisco airport, said Wednesday that his client and National have resolved payment issues, clearing objections the airport had about the airline's financial plan. The airport was owed $580,000 for rents and landing fees by National, which also had not paid a $1.3 million security deposit.

Jessop said National had quit making payments to the San Francisco airport in August after the airline's request for a government-backed loan guarantee was rejected by the Air Transportation Stabilization Board.

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