National Airlines will emerge from

National Airlines will emerge from Chapter 11 bankruptcy. The Las Vegas-based carrier has managed to find $112 million in new financing. Kudos to them! However, their CEO made a rather bizarre statement about the role of private dollars: “This financial package displays the support the private sector has shown for our business plan and their recognition of the evolution of the airline industry toward efficient, low-fare carriers. Unfortunately, the Air Transportation Stabilization Board (ATSB) failed to recognize this dynamic change in the industry when they rejected National’s loan guarantee application.” Let’s see — they got the dollars they needed from the private sector — so why should the government have given them guaranteed loans? On the other hand, one statement from the National CEO does ring true: “The ATSB has sent a clear signal that…

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