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GAO-03-1156R 1 (2003-09-17)

handle is hein.gao/gaobaamhx0001 and id is 1 raw text is: I 7 A Accountability * Integrity * Reliability United States General Accounting Office Washington, DC 20548 September 17, 2003 Congressional Requesters Subject: Aviation Assistance: Information on Payments Made Under the Disaster Relief and Insurance Reimbursement Programs As a result of the September 11, 2001, terrorist attacks on the United States, the airline industry incurred significant losses resulting from the temporary shutdown of the nation's airspace and passengers' apprehensions about flying following the attacks. The Air Transportation Safety and System Stabilization Act' (the Act) provided, among other things, $5 billion in emergency assistance to compensate air carriers for their direct and incremental losses stemming from the attacks. The Act also authorized the Department of Transportation (DOT) to reimburse air carriers for increases in their insurance premiums. On September 28, 2001, we completed and briefed you on the first phase of the work you requested, concluding that there was a reasonable basis to assume that the airlines' financial losses related to September 11 would exceed the $5 billion made available in the Act.2 Since then and pursuant to the second part of your request, we monitored DOT's progress in administering the disaster relief and insurance reimbursement programs and provided periodic status updates to your offices. On September 3, 2003, we provided our final briefing addressing the second aspect of your request. Specifically, for the $5 billion disaster relief program, we discussed the process DOT employed to help ensure that the payments it made were only for the direct and incremental losses stemming from the terrorist attacks. We also provided information about the losses claimed by the major air carriers and payments made by DOT to these carriers and others that applied for assistance. For the insurance reimbursement program, which was administered by the Federal Aviation Administration (FAA), we discussed the process FAA used to determine and reimburse air carriers for insurance premium increases resulting from the September 11, 2001, disaster. We also provided information on the total payments made under the program. Finally, we discussed FAA's expanded in-house aviation insurance program and the potential impact to the federal government. The briefing slides, which provide more detail on our analysis, are enclosed. 'Pub. L. No. 107-42, 115 Stat. 230 (2001). 2 The briefing slides and a summary of our analysis were included in our October 5, 2001, correspondence to you. See GAO-02-133R Financial Management: Assessment of the Airline Industry's Estimated Losses Arising From the Events of September 11. GAO-03-1156R Aviation Assistance Programs

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