| This contest is fueled by the following news: |
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The U.S. government on Monday rejected United Airlines' third and final bid for a loan guarantee, forcing the carrier to move forward with its efforts to secure financing on its own to exit bankruptcy. Industry experts agreed the unanimous decision by the Air Transportation Stabilization Board on United's $1.1 billion application would significantly delay the No. 2 airline's departure from Chapter 11, which has been pushed back several times. United sought the industry's largest loan guarantee to back most of the $2 billion in bankruptcy financing it had arranged with lenders on the condition it obtained federal help. |
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