AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
TRANSPORTATION
America West, rivals up on deal
America West rose 1.03, or 42%, to 3.50 after the U.S. conditionally OK'd $380 mil in federal loan guarantees. US Airways rose 13%, and other ailing carriers climbed on expectations that more will follow suit. Airlines are losing millions daily due to the Sept. 11 attack and recession.
The U.S. laid out tough conditions. America West must control labor costs through '07. The U.S. also wants warrants for up to one-third of the airline's stock.
US Air said it doesn't plan to seek loan guarantees. Wall Street sees the airline as a likely candidate.
FINANCE
Failed mergers hit $319 bil in '01