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CED-82-33 1 (1982-02-03)

handle is hein.gao/gaobabcwt0001 and id is 1 raw text is: I I//Joo _ UNITED STATES GENERAL ACCOUNTING OFFICE c~o WASHINGTON, D.C. 20548 COMMUNITY AND ECONOMIC 117500 OEVElOPMENT DIVISION B-206097 FEBRUARY 3,1982 The Honorable Mark 0. Hatfield RELEASED United States Senate The Honorable Les AuCoinAccountrr CffC, .- .. - specdic approvaf House of Representativesby the Office oG Creswic L Subject: Impact on the Federal Government if the Combined Continental Airlines and Texas International Airlines Fail to Meet Their Financial Obligations! (CED-82-33) This report responds to your letter of October 7, 1981, requesting certain information on the potential financial loss to the Federal Government if the combined Continental Airlines and Texas International Airlines fail to meet their financial obligations. The report addresses the subjects raised in your letter--essential air service to the Pacific; aircraft loan guarantees; potential revenue loss to the Treasury; and the Airline Employee Protection Program. We reviewed Civil Aeronautics Board (CAB) documents con- cerning essential air service to the Pacific and the airline employee protection program; Federal Aviation Administration (FAA) documents concerning the aircraft loan guarantee pro- gram; and Department of Labor documents concerning the airline employee protection program. We interviewed CAB, FAA, and Labor officials in Washington, D.C., concerning these programs and had telephone conversations with Continental Airlines and its Washington counsel, Hydeman, Mason, Burzio, and Lloyd, con- cerning taxes paid or collected by Continental and concerning Pacific air service. We were not requested to make any judg- ments on the financial viability of the merged airline. Our review was made in accordance with GAO's current Standards for Audit of Governmental Organizations, Programs, Activities, and Functions. ESSENTIAL AIR SERVICE TO THE PACIFIC The Airline Deregulation Act of 1978 (Public Law 95-504) guarantees essential air transportation for any point in the United States to which any carrier (1) is providing service pursuant to a certificate issued under section 401 of the (341037)

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