A pair of JetSuite SuiteKey jet card members contend wrongful conduct and breach of fiduciary duties
“JetSuite will fly again,” says its chief restructuring officer, debating the Trustee’s allegation that the private jet operator’s bankruptcy is a liquidation and not a restructuring
Just when it looked like JetSuite’s Chapter 11 bankruptcy filing was about to move quickly through the courts, it may have hit a pair of speed bumps.
JetSuite’s Chapter 11 reorganization plan is “not feasible,” according to the trustee
The trustee overseeing JetSuite’s Chapter 11 bankruptcy is urging the judge to reject the company’s proposed plan. The filing today came hours before the deadline for objections and ahead of a scheduled Sept. 3rd court date.
In a filing last week, the grounded private jet charter operator outlined what its jet card customers might receive in exchange for their $50 million in unused flight credits
What’s nearly $50 million in unused flight credits worth when your jet card provider goes bust?
The answer looks to be less than customers had hoped for, but more than past bankruptcies and closures.
80% of the credits will be good for discounts of 32.5% to 55% on JSX’s scheduled flights
In a filing with the bankruptcy court released earlier this evening, Superior Air Charter, known as JetSuite, revealed its offer to SuiteKey jet card members. The filing shows these customers had $49.5 million of flight credits when the Phenom 300 operator shut down in April.
Two private jet trade groups are accusing the cable network of misrepresenting Clay Lacy and the importance of business aviation
A letter issued yesterday by the top executives of the National Business Aviation Association and National Air Transport Association said CNBC coverage of the CARES Act distorted the impact of Covid-19 on business aviation.
A post on NBAA’s website was titled, “CNBC Distorts Pandemic’s Impact on Business Aviation, Specifically Charter Company Clay Lacy.”