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You are here: Home / Business / State says "NO" to Access Air loan

State says "NO" to Access Air loan

January 27, 2000 By admin

Legislators and the Governor have balked at advancing a six-and-a-halfmillion dollar loan to the Iowa-based, start-up airline “Access Air.”There were not enough votes in the 100-member House of Representatives toapprove of making such a hefty loan. And Governor Tom Vilsack wasn’tthrilled with the request, either, just hours before “Access Air” presents anew business plan in bankruptcy court.Vilsack was wary of using money from the state fund which is supposed to beused to clean up after leaky underground storage tanks.Senate President Mary Kramer, a republican from West Des Moines, saysshe was comfortable with the airline’s new business plan. Kramer conceeds, however, Access Air was seen by many as a risky investment.House Republican Leader Christopher Rants, of Sioux City, says this isn’t the final chapter in the effort to get a low-fare carrier inDes Moines and other Iowa cities.Governor Vilsack is ready to talk about ways to get lower airfares in Iowa,but he says there’s no easy answer.”Access Air” had developed a new business plan which called for asix-and-a-half million dollar state loan and eight-million dollars in cashfrom private sector investors to keep the airline shuttling people toChicago, where “American Trans Air” had agreed to fly those pasengers on toother destinations.

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Filed Under: Business Tagged With: Legislature, Travel

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