The purpose of the guarantees issued by the Board is to compensate air carriers for losses incurred as a result of the terrorist attacks on the United States that occurred on September 11, 2001.
Before entering into an agreement to issue a guarantee, the Board must determine that:
- The obligor is an air carrier for which credit is not reasonably available at the time of the transaction;
- the intended obligation is prudently incurred; and
- such agreement is a necessary part of maintaining a safe, efficient and viable commercial aviation system in the United States.
|