Jim,
Quoting from the article: "It's the ATSB that's allowed US Airways to keep operating," said Robert Mann Jr., head of R.W. Mann & Co. Inc., an airline consultant based on Long Island, N.Y. "In the absence of the cash collateral agreement, US Airways would have been done in January."
Pretty sad commentary on what the government has let the industry become. UAL is operating by the grace of its DIP lenders, USAirways by the grace of the ATSB. DAL, with two toes in the BK court by grace of GE. And NWA, well, its headed that way also. AA would have been there had it not have been for their flight attendants. The state of Hawaii is 2 for 2 in BK.
The whole situation is truely sickening. This garbage administration would rather see Air Gabon flying from LGA to ORD than a US carrier if they can do it at a lower price to the consumer. Funny....we keep hearing about whats best for the consumer, I'm at the point where I could care less about him.
DENVER,CO
