Gulfstream International Files For Chapter 11 Reorganization | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Airborne Unlimited-
Monday

Airborne-Unmanned w/AUVSI-
Tuesday

Airborne Unlimited-
Wednesday

AMA Drone Report-
Thursday

Airborne Unlimited-
Friday

Airborne On ANN

Airborne 06.18.18

Airborne-UnManned 06.19.18

Airborne 06.20.18

AMA Drone Report 06.21.18

Airborne 06.22.18

Airborne-YouTube

Airborne 06.18.18

Airborne-UnManned 06.19.18

Airborne 06.20.18

AMA Drone Report 06.21.18

Airborne 06.22.18

Tue, Nov 09, 2010

Gulfstream International Files For Chapter 11 Reorganization

Florida Regional Airline Continues Normal Flight Operations

Gulfstream International Airlines, a regional carrier which operates flights from Fort Lauderdale, FL to destinations in Florida and the Bahamas, as well as flights from Cleveland, OH, has filed for reorganization under Chapter 11 bankruptcy rules. Gulfstream executives say that all flight operations are continuing on a normal schedule. The airline operates a fleet of 23 Beechcraft 1900D aircraft.

Gulfstream said the filing in intended to allow the company to restructure its debt and secure long-term financing.

The Wall Street Journal's Market Watch reports that the company has had to borrow heavily over the past several years to cope with rising fuel costs and a sagging economy. Gulfstream president and CEO David Hackett said the airline has made "strong year-over-year improvements," but economic factors have made it impossible to continue servicing the debt it has accumulated. He said the company is receiving "strong interest" from potential new funding sources, but all have said the company would need to restructure its debt before they would consider investing.

No layoffs have been announced, and Hackett said one of the goals of the restructuring is to "ensure a great future for our employees."

FMI: http://gulfstreamair.com

Advertisement

More News

AMA Drone Report 06.21.18: NC Drone Summit, AMA v Raleigh Regs, Yuneec Typhoon H

Also: ERAU UAS Program, UK Drone Rescue, ANN/AMA Oshkosh Coverage, Fat Shark 101 The North Carolina Department of Transportation is planning a Drone Summit and Flight Expo for Augu>[...]

AMA Drone Report 06.21.18: NC Drone Summit, AMA v Raleigh Regs, Yuneec Typhoon H

Also: ERAU UAS Program, UK Drone Rescue, ANN/AMA Oshkosh Coverage, Fat Shark 101 The North Carolina Department of Transportation is planning a Drone Summit and Flight Expo for Augu>[...]

Airborne 06.20.18: SubSonex Heads For RENO!, Elvis' BizJet, Chambliss-Red Bull

Also: P&W Geared Turbofan, Tamarack Aerospace, King Air 350ER XP67A Upgrade, NATA Annual Mtg Sonex Aircraft will collaborate with High Performance Aircraft Group to showcase th>[...]

Airborne-Unmanned 06.19.18: Mexican UAV Fights Crime, Spokane Drones, Ikhana!

Also: K2 & Robotic Skies, Autonomous Aerial Vehicles Competition, K State Grad Cert, Commercial Drones at JFK A drone operated by authorities in Ensenada, Mexico, led to a sign>[...]

ANNouncement: Now Accepting Applications For Oshkosh 2018 Stringers!!!

An Amazing Experience Awaits The Chosen Few... E-I-C Note: There's very little we can say yet, but there is a reason why this may be THE year to throw in with ANN to cover the extr>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2018 Web Development & Design by Pauli Systems, LC