Global Aviation's Ch. 11 Cites Labor Costs, Ending Wars

Law360, New York (February 6, 2012, 2:49 PM EST) -- Global Aviation Holdings Inc., the world's largest provider of military transport services, filed for bankruptcy Sunday, citing high labor costs, declining business from the end of the Iraq War and anticipated declines from soon-to-end combat operations in Afghanistan.

The Peachtree, Ga.-headquartered debtor, the parent of World Airways Inc. and New York-based North American Airlines Inc., listed assets of $594 million and liabilities of $495 million in New York bankruptcy court on Sunday.

The company said it was on the hook for a $147 million senior secured...
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