Don't get on my case about copyrights and what not... it's already in front of the world at www.nytimes.com

America West Seeks Loan Guarantee to Avoid Bankruptcy

December 27, 2001

By LAURENCE ZUCKERMAN

Three months after Congress created a board to distribute $10 billion in federal loan guarantees to help the airline industry, the first application is coming down to the wire.

America West Airlines, which is the country's
eighth-largest carrier and one that was struggling even before the terrorist attacks, has asked for help and could be forced to file for bankruptcy protection early next week if the board does not grant it a guarantee.

Other airlines, which together have lost billions of dollars since Sept. 11, are watching the process closely. While their condition is not as pressing as America West's, they say they, too, will be forced to apply to the board if passenger traffic does not pick up significantly next year...

Does this make HP ripe for a buyout, or do other carriers do not want to buy into this liability? CO has been a close partner of HP for some time now, but CO is so knee-deep in debt obligations that I am sure creditors would be screaming bloody murder if Gordon even shot a glance at HP's hemline.

[This message has been edited by ETOPS01 (edited 12-26-2001).]