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AccessAir To File For Chapter 11  
User currently offlineBoeing757/767 From United States of America, joined Jun 1999, 2282 posts, RR: 1
Posted (14 years 8 months 5 hours ago) and read 1141 times:

Another start-up bites the dust?

DES MOINES, Iowa (AP) Struggling startup airline AccessAir was
expected to file for bankruptcy reorganization Monday, less than
nine months after its first flight.

James Davis of Bettendorf, a member of the AccessAir board of
directors, said the airline would file for Chapter 11 bankruptcy,
which provides protection from creditors while companies reorganize
their finances.

``It seemed to me to be the only way to reorganize going
forward. I'm very disappointed in what has become necessary,''
Davis said.

In response to rising air fares out of the Des Moines
International Airport, AccessAir took off Feb. 4 with service
between Des Moines and Los Angeles and New York, with stops in the
Quad Cities along the Iowa-Illinois border and in Peoria, Ill. A
stop in Colorado Springs, Colo., was added later.

Davis said a meeting was held Nov. 23, and the board voted to
authorize management to operate through the weekend so that
passengers would not be stranded for the holiday.

``Obviously, there was no angel that showed up over the weekend.
So, consequently, the management did what was authorized and that
is apparently filing for Chapter 11 bankruptcy,'' he said.

Agents on AccessAir's reservation telephone line said all
flights would be canceled as of midnight Monday for at least 30
days.

Rich Musal, acting AccessAir chief, and corporate attorney John
Shors did not return repeated phone calls from The Associated
Press.




Free-thinking, left-leaning secularist
1 replies: All unread, jump to last
 
User currently offlineFLY777UAL From United States of America, joined May 1999, 4512 posts, RR: 3
Reply 1, posted (14 years 8 months 3 hours ago) and read 1103 times:

I knew they wouldn't last from the first moment I heard of their plan...RIP

FLY777UAL


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