Subject: U.S. to Pay Airlines for Added Security
Date: Thu, 15 May 2003 20:30:42 -0500
U.S. to Pay Airlines for Added Security
By BLOOMBERG NEWS
WASHINGTON, May 14 (Bloomberg News) - Delta Air Lines will receive $390.1 million this week from the federal government, the largest payment in a group made to 66 airlines under a law intended to help offset losses
related to the Iraq war.
American Airlines, part of the AMR Corporation, will receive the second-largest sum, $361 million, followed by United, part of the UAL Corporation, at $300.2 million, the Transportation Security Administration said.
The aid payments, which total $2.3 billion, will be electronically transmitted to airlines in the next two days, said Robert Johnson, an agency spokesman. The money is being distributed in proportion to the amount airlines have paid for security since February 2002, the agency
said. The security administration has until Friday to distribute the aid.
The aid is part of a $79 billion measure to pay for the costs of the Iraq war. Airlines sought the aid when traffic dropped before the war.
Other payments include Southwest Airlines, $271.4 million; US Airways, $216 million; Northwest Airlines, $205 million; Continental Airlines, $173.2 million; and America West, $81.3 million.
Date: Thu, 15 May 2003 20:30:42 -0500
U.S. to Pay Airlines for Added Security
By BLOOMBERG NEWS
WASHINGTON, May 14 (Bloomberg News) - Delta Air Lines will receive $390.1 million this week from the federal government, the largest payment in a group made to 66 airlines under a law intended to help offset losses
related to the Iraq war.
American Airlines, part of the AMR Corporation, will receive the second-largest sum, $361 million, followed by United, part of the UAL Corporation, at $300.2 million, the Transportation Security Administration said.
The aid payments, which total $2.3 billion, will be electronically transmitted to airlines in the next two days, said Robert Johnson, an agency spokesman. The money is being distributed in proportion to the amount airlines have paid for security since February 2002, the agency
said. The security administration has until Friday to distribute the aid.
The aid is part of a $79 billion measure to pay for the costs of the Iraq war. Airlines sought the aid when traffic dropped before the war.
Other payments include Southwest Airlines, $271.4 million; US Airways, $216 million; Northwest Airlines, $205 million; Continental Airlines, $173.2 million; and America West, $81.3 million.
