Superior Air Charter dba JetSuite Air (JetSuite) has voluntarily filed for relief under chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.
The compant offered charter flights on its fleet of Embraer Phenom 100s, Phenom 300s and a Legacy 650.
In a statement, Chief Restructuring Officer Ted Gavin, CTP of Gavin/Solmonese LLC said: “JetSuite has always done its best to honour its commitments to customers throughout its exemplary history, and JetSuite leadership has spent and will continue to spend enormous time and effort pursuing strategic and financial alternatives to restart operations.
Unfortunately, the global circumstances brought on by the Covid-19 pandemic have caused JetSuite’s revenues to drop to near zero, and the carnage across the economy and in the aviation industry in particular is well reported and has no clear end in sight, so we have made the regrettable but necessary decision to file for chapter 11 bankruptcy protection.”
The statement also said bankruptcy protection will be used to reorganise, preserve and maximise the value of its assets, and potentially resume operations.
Sister company JSX (formerly JetSuiteX) remains unaffected and is continuing operations.
