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The first airline to be refused of a federal loan is Vanguard

Washington, USA

Vanguard Airlines has become the first US carrier to be refused a federal loan to help it through its financial problems. The Air Transport Safety Board said it cannot sanction a USD$13.5 million guarantee, as part of a USD$15 million loan, because Vanguard was unable to provide reasonable assurances that it could repay the money. Vanguard had initially asked the federal government in December...

AVIONEWS - World Aeronautical Press Agency - 29001
Rome, Italy, 05/29/2002 14:01
AVIONEWS - World Aeronautical Press Agency

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