Tue, Oct 07, 2008
Says "Recent Events" At Petters Forced Move
For anyone following recent developments at Sun Country
Airlines, and its embattled parent company, the following will
likely come as little surprise.
Petters Aviation, LLC -- which owns Sun Country -- filed for
Chapter 11 bankruptcy protection Monday afternoon, but insists that
passengers will not notice any difference in service. In a brief
statement, the country stressed flights would operate normally.
"We were forced to take this action as a result of recent events
at Petters Group Worldwide. We do not anticipate any disruptions,
and expect to operate business as usual," said Stan Gadek, Chairman
and Chief Executive Officer of Sun Country. "Customers can book
their flights in confidence and know that they will continue to
receive the great service that they are accustomed to on Sun
Country."
Gadek has had to reassure a lot of people of late.
As ANN reported, federal agents raided the
offices of Petters Group Worldwide in late September. Company
founder Tom Petters resigned as chairman of Sun Country's board of
directors soon afterward, under clouds of accusation and a strong
whiff of corporate malfeasance.
The airline then told workers they'd need to accept a 50 percent
pay cut through the end of the year, saying the quagmire at Petters
made it impossible for Sun Country to receive short-term loans to
keep the airline going.
Gadek has since warned employees of the possibility of
furloughs, or outright layoffs... or, in the worst case scenario,
the complete shutdown of Sun Country operations.
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