Ryan International Files For CH 11 BK Protection — Civil Aviation Forum

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Ryan International Files For CH 11 BK Protection

Atrude777 From United States of America, joined Aug 2003, 5613 posts, RR: 54
Posted (1 year 2 months 2 weeks 5 days 11 hours ago) and read 3143 times:

My friend who was one of those that got furloughed at Ryan International informed me this evening that RYN had filed for CH 11 BK, and to expect a news release coming soon...

Here is the press release...

ROCKFORD (WREX) -

There are more problems for Rockford-based Ryan International Airlines.

According to an internal memo that we've gotten here at 13News, the company filed for Chapter 11 bankruptcy. Rubloff Development owns Ryan. The memo, from Rubloff President Mark Robinson, gives a couple of reasons: delays getting a new airplane into service and a drop in troop transport flights.

http://www.wrex.com/story/17097072/r...ne-files-for-bankruptcy-protection

Best of Luck to the remaining Employees there! Not a good time for the airlines especially those involved with the Troop Transports...

Alex

[Edited 2012-03-06 21:14:39]

Good things come to those who wait, better things come to those who go AFTER it!

3 replies: All unread, jump to last

jetblueguy22 From United States of America, joined Nov 2007, 2021 posts, RR: 1
Reply 1, posted (1 year 2 months 2 weeks 5 days 11 hours ago) and read 3118 times:

AIRLINERS.NET CREW
FORUM MODERATOR

Not much of a surprise with the drawdown in Iraq. Hopefully they can restructure and survive. Just shows though how you can't throw all your eggs in one basket.
Blue

Professor Foltz: You push down on that yolk, the houses get bigger, you pull back on the yolk, the houses get bigger.

KarlB737 From United States of America, joined Mar 2004, 2930 posts, RR: 9
Reply 2, posted (1 year 2 months 2 weeks 4 days 18 hours ago) and read 2254 times:

More On The Story:

Courtesy: Rockford Register Star

Ryan International Airlines Seeks Bankruptcy Protection

http://www.rrstar.com/blogs/brianlea...rlines-seeks-bankruptcy-protection

KarlB737 From United States of America, joined Mar 2004, 2930 posts, RR: 9
Reply 3, posted (1 year 2 months 2 weeks 2 days 19 hours ago) and read 1595 times:

An update regarding Ryan International Airlines:

Courtesy: Business Rockford

Ryan Still Flying During Chapter 11 Process

"The unrest in Egypt, where in January 2011 the Rockford-based airline arranged to buy a Boeing 777 from Egypt Air, prevented Ryan from securing delivery of the plane that could have qualified it for military contracts favoring more efficient wide-body jets, according to the filing."

"Ryan, which owes $7.5 million to 18 of its largest creditors, said in a Chapter 11 bankruptcy filing that less reimbursement to military air carriers and a move to wide-body aircraft for troop flights “led to a precarious cash flow crisis.”

http://business-news.thestreet.com/r...flying-during-chapter-11-process/1

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