Zetta Jet was trying to compete against NetJets and VistaJet in offering long-haul, luxury private jet charter and jet card programs
The saga of Zetta Jet looks to be over, save for Chapter 7 bankruptcy liquidation. It comes about a week after an announcement that the luxury private jet operator had secured $8.5 million in funding and ends a bumpy two-year journey that included boardroom brawls, accusations of fraud and a September visit to Chapter 11.
The luxury private jet operator is trying to move forward and emerge from bankruptcy amid allegations of fraud and corruption
Zetta Jet earlier announced today that its existing lessor, Scout Aviation II, LLC, has committed to provide up to $8.5 million in post-petition financing. The financing, subject to Bankruptcy Court approval, will enable the operator of long-distance luxury private jets to satisfy customary obligations associated with the daily operations of its business, including the timely payment for aircraft usage, fuel, post-petition goods and services, employee wages and other obligations, according to a press release.