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Southern Air files for Chapter 11 bankruptcy protection

1-Oct-2012 11:52 AM

Southern Air Holdings, including Southern Air, filed (28-Sep-2012) voluntary petitions for reorganisation under Chapter 11 of the US Bankruptcy Code, with the support of a majority of key financial stakeholders, in order to implement a financial restructuring. Southern Air will work with the stakeholders to finalise, obtain court approval for, and implement a plan of reorganisation as quickly as possible. Southern Air remains operational and fully expects to continue normal business operations, fulfilling all customer requirements as scheduled and providing uninterrupted air cargo services. [more - original PR]