DenverCrashpad
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Nov. 6, 2008 11:18 a.m. | Appleton-based Air Wisconsin Airlines Corp. said today it has agreed to provide a $35 million loan to US Airways Inc., part of a $950 million financing package that US Airways announced on Oct. 23.
Air Wisconsin is a major US Airways vendor, providing aircraft and flight crews for US Airways Express regional service. The loan has an initial term of 12 months, with optional monthly extensions totaling an additional 12 months, provided certain conditions are met.
An investors group owned by Air Wisconsin agreed in 2005 to provide $125 million to US Airways. That investment and other cash infusions allowed US Airways, once considered a candidate for liquidation, to strike a $1.5 billion merger deal with America West Holdings Corp. US Airways later emerged from Chapter 11 bankruptcy and completed its merger with America West.
"As the regional carrier operating the largest fleet of US Airways Express aircraft, Air Wisconsin remains committed to supporting US Airways' success," Air Wisconsin President and CEO Jim Rankin said in a statement.
Air Wisconsin is the largest privately held regional airline in the United States. The company also performs ground-handling services for United Express and Northwest Airlines at over 30 locations throughout the country.
Air Wisconsin is a major US Airways vendor, providing aircraft and flight crews for US Airways Express regional service. The loan has an initial term of 12 months, with optional monthly extensions totaling an additional 12 months, provided certain conditions are met.
An investors group owned by Air Wisconsin agreed in 2005 to provide $125 million to US Airways. That investment and other cash infusions allowed US Airways, once considered a candidate for liquidation, to strike a $1.5 billion merger deal with America West Holdings Corp. US Airways later emerged from Chapter 11 bankruptcy and completed its merger with America West.
"As the regional carrier operating the largest fleet of US Airways Express aircraft, Air Wisconsin remains committed to supporting US Airways' success," Air Wisconsin President and CEO Jim Rankin said in a statement.
Air Wisconsin is the largest privately held regional airline in the United States. The company also performs ground-handling services for United Express and Northwest Airlines at over 30 locations throughout the country.