United Applauds Congressional Support For Loan Guarantee Program

United Airlines (NYSE: UAL) today applauded federal lawmakers for supporting the carrierå‘s application to the Air Transportation Stabilization Board (ATSB) for loan guarantees. The airline is seeking a loan of $2 billion, with $1.8 billion guaranteed by the government. Almost 40 United States Senators and more than 100 members of Congress signed letters supporting Unitedå‘s loan guarantee application before the ATSB.
Senator Richard Durbin, D-Ill. and both senators from United’s three other hub states signed a letter of support, including Senators Wayne Allard, R-Colo.; Ben Nighthorse Campbell, R-Colo.; Barbara Boxer, D-Calif.; Diane Feinstein, D-Calif.; George Allen, R-Va. and John Warner, R-Va. Senate Majority Leader Tom Daschle, D-S.D. also signed the letter.
Additionally, 104 members of the U.S. House of Representatives, including the leadership of the House Transportation and Infrastructure Committee, signed a letter to the ATSB urging the approval of United’s application. Congressman Bill Lipinski, D-Ill. and Congresswoman Ellen Tauscher, D-Calif. led the charge for supporting the application.

“I am pleased that so many of our nation’s leaders recognize the vital role United plays in the communities it serves,” said Jack Creighton, United’s chairman and chief executive officer. “We believe we are in exactly the position the ATSB program was designed to assist, and we are grateful for the support we’ve received.”