Phenom fleet operator Superior Air Charter, trading as JetSuite Air, has voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the US Bankruptcy Court for the District of Delaware
Chief restructuring officer Ted Gavin, CTP of Gavin/Solmonese LLC says: “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.”
JetSuite has safely operated over 111,000 flights since 2009. It will seek bankruptcy protection to reorganise, preserve and maximise the value of its assets, and potentially resume operations.