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To: Sharck who started this subject	9/19/2001 10:55:19 PM
From: Teri Garner	Read Replies (1) of 37746

White House Proposes $5 Billion for Airline Bailout WASHINGTON (Reuters) - The White House proposed a bailout plan for the airline industry late on Wednesday that included $5 billion in direct cash assistance, but not $12.5 billion in loan guarantees. The plan was presented to congressional leaders hours after airline executives, saying some carriers face the potential of bankruptcy without sweeping federal help, made their case to lawmakers at a hearing for the full $17.5 billion package. An administration official, who spoke on the condition of anonymity, said the $5 billion matched the airlines' estimates to cover losses directly related to last Tuesday's catastrophic hijackings. The prospect of loan guarantees, the official said, would be taken up with Congress at a later date. The administration also informed Congress that President Bush (news - web sites) planned to use $3 billion from $40 billion in emergency funding approved by Congress after the tragedy to help pay for airport and airline security enhancements. dailynews.yahoo.com

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