!

[goofy64055]

See

 

[A kid at heart]

Doesn't surprise me.

 

[sgtdisney]

I wonder why the government wouldn't help Vanguard when they helped almost every other airline? I am sure they must have had a reason, but I wonder if they regret it now...

 

[travelcoupons]

I think they were turned down because they were on the brink of bankruptcy as long ago as May 2001 (maybe before) and probably would have filed bankruptcy anyway if the events of Sept. 11th had not occurred.



From Vanguard press releases:
As announced on May 1, 2001, a group of existing shareholders of the Company are investing up to $7.5 million in the Company in exchange for newly-issued shares of common stock, at a per share acquisition price of $0.20. NASDAQ granted the exemption due to the Company’s critical need for funding to remain financially solvent. The Company had represented to NASDAQ that, without this funding, the Company would have been required to file for reorganization under Chapter 11 of the Bankruptcy Code.

 

[sgtdisney]

Travelcoupons, that does make sense... If Vanguard wasn't viable for over a year, I can see why they may not have been a proper candidate for the loan...

 

[Miss Jasmine]

Vanguard never turned a profit in its years of existance (which I believe was 5). Actually, the federal government handouts to the airlines after 9/11 have been hard to come by.

Hi ya sgt.

 

[sgtdisney]

Hi Miss Jasmine, I have missed you in Chat lately!!

Thanks for additional info on Vanguard. I have never flown them, so I never researched them very much....