HOUSE SUBCOMMITTEE APPROVES ASSISTANCE PLAN FOR AIRLINES
The U.S. House Aviation Subcommittee unanimously approved a bill to help the country’s general aviation industry to recover from the financial impact of the Sept. 11 terrorist attacks.
The General Aviation Industry Reparations Act of 2001, H.R. 3347, authorizes $5 billion in loan guarantees to the airline industry. The legislation also lays out the guidelines for dispersing the loan guarantees and makes general aviation firms eligible for war risk insurance.