AIRLINE BANKRUPTCY DOESN’T AFFECT BID

AIRLINE BANKRUPTCY DOESN’T AFFECT BID

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SIOUX CITY’S ESSENTIAL AIR SERVICE BID FOR AMERICAN AIRLINES SUB-CARRIER AMERICAN EAGLE REMAINS ACTIVE DESPITE AMERICAN AIRLINES FILING FOR CHAPTER 11 BANKRUPTCY PROTECTION.

SIOUX GATEWAY AIRPORT BOARD CHAIRMAN DAN KAPLAN SAYS THE BANKRUPTCY PETITION WON’T AFFECT THE CITY’S BID:

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THE U.S. DEPARTMENT OF TRANSPORTATION WILL DECIDE ON A TWO YEAR FEDERAL SUBSIDY FOR AMERICAN EAGLE TO PROVIDE TWO FLIGHTS OUT OF SIOUX CITY.

KAPLAN HOPES TO HEAR ON A DECISION FROM THE U.S .DEPARTMENT OF TRANSPORTATION ON THE BID WITHIN THE NEXT COUPLE OF WEEKS.

AMERICAN AIRLINE’S STOCK DROPPED 84% DURING TRADING AFTER THE BANKRUPTCY ANNOUNCEMENT.