May 23, 2002
PO-3121

Air Transportation Stabilization Board:
June 28th is the Deadline for Applications

WASHINGTON, DC --As stated in the Office of Management and Budget (OMB) regulations that govern the loan guarantee program, June 28, 2002 is the deadline for submitting complete applications to the Air Transportation Stabilization Board (ATSB) under the air carrier loan guarantee program.

Prospective applicants should submit an original application and four copies. Applications will not be accepted via facsimile machine transmission or electronic mail. No application will be accepted for review unless it is received at the ATSB's offices by 5:00 p.m. EDT on June 28, 2002.

The OMB regulations and in particular 14 CFR 1300.16, which is available on the ATSB web site (www.treas.gov/atsb/documents), clearly set out the information required to be included in an application. The ATSB is authorized to reject at any time an application that it determines to be incomplete.

"The Board will continue to review all applications received by the deadline, as long as the applications are complete and satisfactorily meet the OMB regulations," said ATSB Executive Director Dan Montgomery.

Under the Act, signed into law September 22, 2001, the ATSB is authorized by Congress to issue Federal loan guarantees to eligible air carriers that suffered losses due to terrorist attacks on September 11, 2001.

The ATSB consists of designees of Federal Reserve Board Chairman Alan Greenspan, Treasury Secretary Paul O'Neill and Transportation Secretary Norman Mineta. The designees are Federal Reserve Board Governor Edward M. Gramlich, Treasury Under Secretary for Domestic Finance Peter R. Fisher and Department of Transportation General Counsel Kirk K. Van Tine. David Walker, Comptroller General of the United States, is a non-voting member of the Board.

Additional information about the ATSB is available on its web site referenced above.