Skybus owes at least $50 million, according to Chapter 11 filing
"Bankrupt Skybus Airlines owes $13.5 million to its top 20 unsecured creditors — companies who lent money to the airline without collateral — and at least $50 million overall after filing for bankruptcy protection under Chapter 11 of U.S. Bankruptcy Code." That's according to the Greensboro (N.C.)
News & Record, one of several media outlets to report today on Skybus' bankruptcy filing. The
Dayton Business Journal says Skybus' filing "listed total liabilities of between $50 million and $100 million owed to between 200 and 1,000 creditors. … It listed assets of between $100 million and $500 million."
The Columbus Dispatch writes "World Fuel Management of Chicago is listed as the largest creditor, owed $8.5 million, according to the filing, dated Saturday. Airbus North America is owed $1.9 million, the filing says. Other major creditors include: American Express, owed $600,000; Airport Terminal Services, $300,000; SourceSpeed, $250,000; and the Columbus Regional Airport Authority, $200,000." Despite the Chapter 11 filing –- often used by airlines that keep flying while they reorganize -– Skybus spokesman Bob Tenenbaum tells
Bloomberg News "this is a shutdown. All of (the aircraft) will end up in the bankruptcy proceeding."