Swift Air LLC (USA) (Phoenix) has signed a definitive Plan Funding Term Sheet with NIMBOS LLC that provides for a substantial capital infusion and paves the way for the company to emerge from Chapter 11 by late September concluding its thirteen month reorganization. The company has filed a motion with the bankruptcy court for approval of $1.4 million in additional funding by NIMBOS as part of the steps to emerge from Chapter 11.
Swift Air LLC, has been best known for its 14 years of incident free operations, transporting presidential candidates like Senator John McCain, professional sports teams, and the world’s biggest music acts. Dealt a significant blow from the NBA lockout in the 2011-12 season, followed shortly thereafter by the NHL lockout in the 2012-13 season, Swift Air filed for bankruptcy in June of 2012 and has explored multiple exit strategies, before entering into this new arrangement with NIMBOS. The company has renewed its commitment to its sports charter line of business and is looking forward to the start of the NHL and NBA seasons, which will be the first uninterrupted seasons for these leagues in the past 2 years.
Swift Air is a certificated FAR 121 Air Carrier and operates a fleet comprised of Boeing 737 and Boeing 767 passenger aircraft.
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.