16-Apr-2013 10:05 AM

Southern Air completes restructuring and emerges from Chapter 11

Southern Air Holdings announced (15-Apr-2013) it completed its financial restructuring and emerged from Chapter 11 bankruptcy. The airline entered Chapter 11 on 28-Sep-2012. Southern Air CEO Daniel J McHugh said, "We have emerged from this restructuring process with substantially less debt, significantly improved operations and resources, and financial flexibility as a well-capitalised global air cargo carrier. Today, we are well-positioned both financially and operationally to continue to build Southern Air for the long-term benefit of our customers, suppliers, business partners, crewmembers and employees. From our new headquarters at the Cincinnati/Northern Kentucky International Airport, our largest air operating hub, we are even better able to grow profitably, delivering the highest quality services to our customers and meeting and exceeding their air cargo needs." [more - original PR]

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