Swift Air Granted Final Approval by Bankruptcy Court
The U.S. Bankruptcy Court, District of Arizona granted final approval to Swift Air’s proposed plan of reorganization, paving the way for the company’s emergence from bankruptcy protection by mid-October. The company’s reorganization plan was overwhelmingly supported by its creditor constituencies.
Following the proceedings, Swift’s CEO Jeff Conry said that “this is an important milestone in the company’s continuing steps to complete its financial restructuring and emerge from chapter 11 in the very near future. We are gratified to have the support of our plan sponsor, Nimbos Holdings, as well as the Official Creditors’ Committee.”
Ken Woolley, the principal behind Nimbos Holdings and the plan’s financial backer, said, “We are very excited about the company’s upcoming emergence from chapter 11, and look forward to a very successful future with the company.”
Swift Air is a Part 121 Supplemental Airline with worldwide charter authority. The company provides first-class chartered service on Boeing 737-400 aircraft for professional sports teams, sporting events, dignitaries, humanitarian missions and political events.
Previously on abfjournal: Swift Air Gets Conditional Bankruptcy Court Approval, August 26, 2013