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Vanguard Airlines Gets $4.5 Million from Federal Bailout Fund.
Byline: Randolph Heaster
Oct. 3--Vanguard Airlines Inc. has received $4.5 million in federal aid provided by the recently passed bailout package for the airline industry.
The Kansas City-based airline may eventually receive a total of $8 million to $9 million in grant money after a second installment is given, said Vanguard spokesman Alan Carr. Last week, Vanguard indicated it was hoping to receive $3.5 million in direct aid.
Vanguard is one of many carriers that will receive the direct aid under the Air Transportation Safety and System Stabilization Act. The legislation provides up to $4.5 billion in grants to passenger airlines to cover losses through the end of the year.
Vanguard cut several flights and laid off 120 employees in response to the reduced demand for air travel after last month's terrorist attacks. Most of the affected workers were in Kansas City.
The legislation also provides up to $10 billion in loans to the airline industry. No guidelines have been established yet on how to qualify for a ...
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