Boeing757/767
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Posts: 2179
Joined: Tue Jun 29, 1999 11:05 pm

AccessAir To File For Chapter 11

Tue Nov 30, 1999 7:48 am

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
 
FLY777UAL
Posts: 4830
Joined: Tue May 18, 1999 3:49 am

RE: AccessAir To File For Chapter 11

Tue Nov 30, 1999 10:00 am

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

FLY777UAL

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