Recently in airlines Category

Eclipse Jet

| | Comments (0) | TrackBacks (0)

Eclipse Aviation, a pioneer in the ultra-light jet segment, filed for Chapter 11 protection today after failing to raise capital in the current economy. The company was using bridge loans and reduced output to preserve its business, and had not achieved profitability. It also had lawsuits pending from customers angry at Eclipse for raising the price of its jet prior to delivery.

Eclipse must be particularly disappointed with its timing, as the European Safety Agency approved the Eclipse 500 for sale in 37 European countries this past Friday. The company's CEO was hopeful that the certification would improve its ability to secure funding.

The day in bankruptcies, Nov. 20

| | Comments (0) | TrackBacks (0)

Perhaps none of these will heavily affect consumers, but a lot of filings came over the wires yesterday:

  • DayJet, a regional airline that closed up shop, filed for Chapter 7 liquidation
  • CPG Marketing, which processed rebates for third-party companies, filed Chapter 11 with heavy outstanding liabilities
  • Beaudry RV, a regional dealership, caught without money to repay debts
  • Getrag, transmission manufacturer (but it seems only for one plant)

Sun Country

| | Comments (0) | TrackBacks (0)

Sun Country Airlines filed for bankrupty protection today. Last week Tom Petters, the founder of Sun Country's parent company, was charged by federal agents with fraud and money laundering, and was arrested last week.

Sun Country currently has no plans to change its service or staff levels.

Timely Demise tracks the retail industry as it changes with our unprecedented economic environment. By David Wertheimer. Did I miss something? Drop me a line.

About this Archive

This page is a archive of recent entries in the airlines category.

acquisition is the previous category.

announcements is the next category.

Find recent content on the main index or look in the archives to find all content.