Indianapolis Hopes to Re-Let United's Airport Lease to Pay Bonds

Carvlin, Elizabeth
May 2003
Bond Buyer;5/6/2003, Vol. 344 Issue 31629, p5
Trade Publication
A Chicago bankruptcy judge is expected in the second week of May 2003, to decide whether to allow United Airlines Inc. to terminate its lease with the Indianapolis International Airport on a maintenance facility, a decision that could pave the way for the state to solicit new tenants and revenues to repay bonds issued to help build the facility. The bonds were issued through the Indianapolis Airport Authority, according to Henry Efroymson, an attorney with Ice Miller who represents the authority in the United Chapter 11 bankruptcy case. The airline has so far failed to make payments owed on special facilities revenue bonds issued in conjunction with the airline's use of airports and facilities in Chicago, Denver, Los Angeles, New York City, and San Francisco.


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