Payouts are falling short of the promised 3 and 15 cents on the dollar for JetSuite SuiteKey members
JSX may be flying high. Its sister, the former JetSuite, is operating Part 135 on-demand charter flights under the Superior Air Charter banner. But, former SuiteKey members, who had $50 million in funds at the time of its grounding, are getting a bitter pill.
The approval of JetSuite’s Chapter 11 reorganization comes after opposition from the Trustee overseeing the case and charges the private jet operator had become a Ponzi scheme
(Updated Sept. 8, 2020) JetSuite may fly again. At least that’s the possible outcome now. The judge overseeing the Chapter 11 confirmed the company’s reorganization plan, according to Ted Gavin, managing director of Gavin Solmonese. Gavin serves as the private jet charter operator’s chief restructuring officer. The hearing took place this morning in Delaware.
Since grounding its fleet earlier this month, the company had not communicated with SuiteKey jet card customers except to advise them of the shutdown
The company says it hopes to resume operations without disclosing specifics
JetSuite, dba as Superior Air Charter, filed for Chapter 11 bankruptcy protection in Delaware today. The move came two weeks after it suspended operations and furloughed most of its employees.