JetSuite files for relief under Chapter 11 of US Bankruptcy Code

JetSuite filed (28-Apr-2020) for relief under Chapter 11 of the US Bankruptcy Code, whereby it will seek protection to restructure its assets and potentially resume service. Gavin/Solmonese chief restructuring officer Ted Gavin stated the coronavirus caused the carrier's revenue to "drop to near zero", adding: "JetSuite leadership has spent and will continue to spend enormous time and effort pursuing strategic and financial alternatives to restart operations". [more - original PR]