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Sun Country files for bankruptcy...

BigMotorToter

Well-known member
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Mar 5, 2004
Posts
257
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Sun Country files for bankruptcy

By John Welbes
jwelbes@pioneerpress.com
Article Last Updated: 10/06/2008 01:49:24 PM CDT


Sun Country Airlines notified the Metropolitan Airports Commission today that it has filed for Chapter 11 bankruptcy reorganization.
The Mendota Heights-based low-cost carrier has run into financial trouble in recent weeks after its parent company, Petters Group Worldwide, became the focus of a federal fraud investigation.
Sun Country has not been implicated in the scheme, but Petters had loaned the airline money at lean times of the travel season, and that cash isn't available now. Calls to Sun Country for comment today weren't immediately returned. Companies that reorganize in bankruptcy typically continue operating as they work out deals with creditors
 

chuckthepilot

Confused User
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Feb 19, 2007
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I'm getting the feeling again, that has become all too familiar now a days.
Then one you get when you are taking a really good pee, and a big sneeze hits. It's coming and probably won't end up well.
 

Whine Lover

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Jun 19, 2005
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ATA is in Chapter 11 For the second time:

No planes, no offices, no employees, NADA, ZIP, ZILCH.

If it walks like a Duck, quacks, like a Duck....beware, it could be a Klown in a Duck Costume.

Q: When is Chapter 11 NOT Chapter 11?

A: When it looks and feels like Chapter 7.


A. Richard Weed
 
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