No Aid for UAL's United Air
United Airlines' third application for government help struck out on Monday, as the bankrupt carrier lost its last-ditch effort to get a $1.1 billion loan guarantee.
A week after rejecting its second request for aid, the Air Transportation Stabilization Board, which was created after the World Trade Center attacks to provide liquidity to the airline industry, rejected its latest request and said it would not accept a revised application from the struggling carrier. United, the nation's second-largest airline, is a unit of UAL (UALAQ Quote).
"The board concluded that granting the loan guarantee is not a necessary part of maintaining a safe, efficient, and viable commercial aviation system in the United States," said Michael Kestenbaum, executive director of the ATSB, in a letter to United. ...
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