JetSuite’s Chapter 11 filing reveals pre-Coronavirus challenges

JetSuite

In a first reveal from the bankruptcy court, the private jet charter operator’s Chief Restructuring Officer said JetSuite “was never able to operate profitably.”

Here’s why JetSuite didn’t qualify for the CARES Act

Documents confirm $50 million in unused SuiteKey jet card flight credits

A sworn declaration by JetSuite’s chief restructuring officer, Edward T. Gavin of Gavin/Solmonese, gives a unique view into the Part 135 charter operator leading up to grounding its fleet and subsequent Chapter 11 bankruptcy filing earlier this week.

The document, filed prior to a video hearing yesterday, confirmed $50 million in unused SuiteKey jet card balances, the amount estimated by Private Jet Card Comparisons in our earlier report.

Follow Me
Tweet
%d bloggers like this: