Swift Air (USA) (Phoenix) now plans to emerge from Chapter 11 bankruptcy reorganization in mid October following the approval of the bankruptcy court. The Part 121 supplemental airline filed for bankruptcy reorganization in June 2012. The airline issued this statement:
On October 2, 2013 the U.S. Bankruptcy Court, District of Arizona granted final approval to Swift Air’s proposed plan of reorganization, thus paving the way for the company’s emergence from bankruptcy protection by mid-October. The company’s reorganization plan was overwhelmingly supported by the company’s creditor constituencies.
Swift’s CEO Jeff Conry said that “this is an important milestone in the company’s continuing steps to complete its financial restructuring and emerge from chapter 11 in the very near future. We are gratified to have the support of our plan sponsor, Nimbos Holdings, as well as the Official Creditors’ Committee.”
Ken Woolley, the principal behind Nimbos Holdings and the plan’s financial backer, said, “We are very excited about the company’s upcoming emergence from chapter 11, and look forward to a very successful future with the company.”
Copyright Photo: Mark Durbin/AirlinersGallery.com. The former US Airways Boeing 737-4B7 N802TJ (msn 24874) is pictured parked at San Francisco International Airport in the current livery, available for charter work. The aircraft was formerly painted and operated for the John McCain presidential campaign.