Air Transport World

The missing $15 billion. (Editorial).(federal aid to US airlines)

It is difficult not to feel sympathy for the leaders of several US airlines who came to Washington again last month to plead their case for relief from what they calculate are $4 billion in unfunded aviation security mandates presently being absorbed by the industry. When Congress rode to the airlines' rescue more than a year ago with $5 billion in cash and $10 billion in loan guarantees, the expectation was that by now they would be seeing the light at the end of the tunnel.

Instead, 14 months after 9/11 the industry is nowhere near a turnaround. Yields and traffic remain severely depressed relative to 2000. Losses are expected to reach more than $7 billion for the second consecutive year and projections are that the industry may shed another $2. …

Log in to your account to read this article – and millions more.