Southern Air files for Chapter 11 bankruptcy

default_image

© Khunaspix Dreamstime.

By Alex Lennane

28/09/2012

As anticipated in the story broken by The Loadstar, Southern Air has filed for Chapter 11 bankruptcy protection. While Reuters suggests US defence cuts to be the reason, sources have also suggested that low rates and high aircraft costs were partly to blame. Cargo Facts is worth watching for the definitive story.

Read more...

Topics

Most read news

Etail by air – here to stay or on a short shelf life?

HMM sees opportunities in Hapag-Lloyd’s exit from THE Alliance

The rise and rise of China's ecommerce platforms

Increasing scrutiny could stall rise of ecommerce platforms, as TikTok faces US ban

Legal battle heats up over 'unseaworthy' and 'reckless' MV Dali

DSV chief reticent on Schenker: the focus on growing market share

Another strong month for US ports as container flows continue to rise

MSC redeploys 'Israel-linked' box ships away from Persian Gulf

Boxes piling into Mexican ports – but then piling up

Liners add capacity to Asia-ECSA as ocean rates hit 18-month high

K+N looks past Q1 revenue drop to improved margins from restructure

US intermodal picking up steam as trucking woes continue

Schenker, what Schenker? DSV boss talks up options – yes, Sir!

No summer siesta for airfreight

Air Canada Cargo adds freighter service to Chicago

Plateauing Kuehne + Nagel still rules but isn't liked very much