June 30, 2004
The Air Transportation Stabilization Board on Monday rejected United Air Lines' latest request for a federal loan guarantee, and said it would not accept further submissions from the airline. The ATSB said granting the loan guarantee was not necessary for maintaining a safe and efficient aviation system, and that bankrupt United would likely succeed in securing airline credit without help from the board. The ruling came 11 days after the ATSB denied an earlier request by United for a $1.6 billion federal loan guarantee.