US Airways Says Bill Could Kill Restructuring
Associated Press
Tucked away in a $30-billion anti-terrorism bill is a provision that US Airways says could doom its only chance to avoid bankruptcy.
The legislation, which was passed by the House, would delay until October any payments under a loan assistance program Congress passed last year as part of an airline industry bailout.
Airline spokesman David Castelveter said US Airways based its restructuring plan on last year’s legislation, which gave airlines until June 28 to apply for the loan guarantees and made no restrictions on when the money would be available.
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