Aviation Industry Congratulates President and S.B.A. For Swift Disaster Loan Policy Change.

Business Editors/High-Tech Writers

MIAMI--(BUSINESS WIRE)--Oct. 19, 2001

"The Coalition of Airline Providers thank President Bush and SBA Administrator Hector V. Barreto for the swift action taken by the Small Business Administration to allow all small businesses, including the devastated aviation industry, no matter where they may be located, to have access to Economic Injury Disaster Loans (EIDLs) in the wake of widespread income losses resulting from the impact of the terrorist attacks of September 11th," Coalition Chairman Virgil Pizer said today. "This is a sorely needed policy change from previous SBA rules, which restricted low interest disaster loans to businesses located in specific geographic areas only. On behalf of aviation maintenance, parts suppliers and airline service providers who have suffered severe business losses, this action aiding all small businesses similarly impacted , is the best way to insure that our aviation industry companies can survive while awaiting the economic upturn of the nation's airlines, in particular, and the economy in general," said Mr. Pizer.

Andrew Wahlquist, Washington Representative of the Coalition which works in behalf of the airline provider industry and represents well over 1,000 aviation maintenance, parts distributor and airline service provider businesses, said, "These companies have all felt the immediate brunt of the airline's shut down and subsequent grounding of upwards of 20% of their fleets. New maintenance work has not been coming to our maintenance, supplier and provider companies. We have already experienced layoffs of upwards of 30,000 nationally, and many more layoffs are likely to come. The new SBA disaster loans will enable these companies to have access to the working capital they need for survival, at a reasonable interest rate.

"We especially want to recognize the many Members of Congress who have shared our concerns with the President and the SBA, as well as Florida Governor Jeb Bush and the Miami-Dade County Commission which passed resolutions calling upon the President and the SBA to take the action they took today. We are extremely grateful for their work on our behalf," said Wahlquist.

A copy of the SBA announcement and Fact Sheet About U.S. Small Business Administration September 11 Economic Injury Disaster Loan Program can be found at http://www.sba.gov/news.