Premium Airline Eos Files For Chapter 11

Law360, New York (April 28, 2008, 12:00 AM EDT) -- The latest casualty of the dour credit market and an airline industry beleaguered by rising fuel prices is premium carrier Eos Airlines Inc., which entered bankruptcy Saturday.

The Purchase, N.Y.-based company, which specializes in business class-only service, filed a voluntary petition for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York, White Plains Division, citing its failure to secure enough capital to complete its latest round of financing.

Eos said its operations would cease effective Monday. It also filed motions to...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.