December 18, 2001 The Honorable George W. Bush The White House 1600 Pennsylvania Ave. Washington, D.C. 20500 Dear Mr. President: I am writing to request your assistance on a matter of extreme importance to the economic recovery of both the State of Ohio and also to the United States. I understand the Air Transportation Stabilization Board has concerns with the emergency loan guarantee application submitted by America West Airlines (AWA). America West has over 14,000 employees and indirectly affects another 26,000 workers. It is the third largest carrier of passenger traffic between the Northeast and West Coast and transports over 20 million passengers annually. America West is extremely important to the Central Ohio economy as the only airline hub operating in the region. The airline employs 350 people and offers 44 daily departures from 10 gates to 15 nonstop destinations. The airline was poised to expand its operations in Columbus prior to the September 11 terrorist attacks. Furthermore, airline experts report that if the America West hub no longer operates, it is extremely unlikely that another carrier will replace them. I have been informed that America West has assembled a broadly supported loan package with third party expert credit analysis validating their business plan and ability to repay the loan. Further, an investment banking firm and an aviation finance consulting firm have provided independent analysis certifying the airline’s viability. The tragedy of September 11th had a devastating effect on the airline industry and the nation’s economy as a whole. The ensuing federal government grounding of the air transportation system resulted in a total loss of revenues, for all airlines, for four full days. Your Administration and the Congress acted swiftly by providing among other recovery tools, government guaranteed loans for those airlines experiencing financial problems compounded by the attacks. The Air Transportation Stabilization Board’s actions in managing the loan guarantee program will have significant implications on the future of the airline industry. In order to maintain a viable, competitive airline industry, I believe all aspects of the stabilization package must be made available to those carriers, such as America West, demonstrating a need for assistance. Thank you for your consideration.
Sincerely, Bob Taft Governor C: Chairman Alan Greenspan Secretary Paul O’Neill Secretary Norman Mineta Comptroller David Walker