P.M. BRIEFING : Northwest Gets GE, Airbus Loans
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EAGAN, Minn. — Northwest Airlines, heading into a tough earnings period sparked by the fuel crisis, has received a $500-million loan from General Electric Co. and European aircraft maker Airbus Industrie, a published report said today.
The loan agreement may have given Airbus and GE an edge against competitors in securing a deal to sell Northwest 75 new planes, according to today’s Wall Street Journal.
Northwest’s parent, St. Paul-based NWA Inc., recently agreed to order the Airbus A-320 aircraft and take options on 30 more in a deal valued at $4.6 billion. A GE joint venture is supplying engines for the aircraft.
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