AIRBORNE RECIEVES $8.8 MILLION FROM AIRLINE SECURITY PACKAGE
Airborne Inc. said it has received $8.8 million from the U.S. government under the Air Transportation Safety and System Stabilization Act.
The payment compensates Airborne Express for a portion of its direct losses incurred as a result of the grounding of its aircraft fleet, as well as for anticipated losses related to the September attacks through the end of the year.
Additional payments may be received before the end of the calendar year, said Seattle-based Airborne Inc., the holding company for Airborne Express.