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The Air Transportation Stabilization Board (ATSB) voted today to approve the proposed merger of US Airways and America West. The business plan put forward by the companies provides for a more competitive cost structure and increased liquidity which should better both airlines' competitiveness in a challenging industry environment. The ATSB has negotiated new loan terms that materially improve the collateral position of the Board, reducing the risk to the taxpayers under the existing loan guarantees.
The ATSB will continue to work closely with both airlines to see the transaction to closing and to complete revisions to each airline's loan agreement.
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