February 6, 2012
Global Aviation Holdings files for Chapter 11 reorganization
Global Aviation Holdings, the parent company of World Airways, North American Airlines and other subsidiaries, announced that to achieve a cost and debt structure that is industry competitive it has commenced a financial restructuring through the voluntary filing of petitions to reorganize under Chapter 11 of the U.S. Bankruptcy Code in the United States District Court for the Eastern District of New York (the “Court”). During the restructuring, the Company and its subsidiaries will continue to operate as normal, without interruption.
