June 28, 2004
ATSB Ignores Congress, Sound Economics in Refusing United Airlines Loan Guarantees
Statement by Duane E. Woerth, president of the Air Line Pilots Association on the Air Transportation Stabilization Board’s rejection of United Airlines’ third loan guarantee application:
“President Bush promised he would help the airlines recover from the terrorist attacks of 9/11, yet the Air Transportation Stabilization Board has refused to guarantee loans that would help rebuild one of the country’s flagship airlines.
“From the beginning, the administration vigorously opposed the loan guarantee program and in the end ensured that only 16 percent of the $10 billion intended by Congress was utilized.
“United’s requests are miniscule when compared with more than $150 billion that the federal government will give in corporate tax breaks and outright grants to tobacco, timber companies, oil and gas drillers, agriculture and other industries not nearly as hard hit by the 9/11 terrorist attacks.
“It’s unfortunate that politics have prevailed over sound economics at the Air Transportation Stabilization Board, but I am confident that United will continue its work to generate the financial backing it needs from other sources.”
Founded in 1931, ALPA is the world’s largest pilot union, representing 64,000 pilots at 42 airlines in the United States and Canada. Visit the ALPA website at www.alpa.org.
Read Statement Released by United MEC Chairman, Mark Bathurst
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ALPA Contact: Linda Shotwell, 703-481-4439