29 April 2008

Eos Airlines files for Bankruptcy

Evidently the global banking turmoil is reflected in many cross-industry ways. Few years ago, niche companies emerged and faced the air carrier monsters on the business class market. After witnessing SilverJet’s unfortunate survival strive few days agao, now travelers witness the death of Eos.

The US, John F. Kennedy based Eos is an all-business class airline which filed for bankruptcy yesterday, a week after receiving funds of $50 million. The small carrier declared debts of $34.9million and assets of $70 million in the U.S. Bankruptcy Court in White Plains, New York.

Eos competed in the emerging but savage market with business-only carriers like MAXjet Airways, L'Avion and Silverjet amongst traditional airlines, offering lower fares. The airline is the fifth carrier to go bankrupt the last 30 days while rumors reveal discussions taking place regarding starting up a new Facebook friend-group with bankrupt air carriers. Volunteers seem easy to allocate as Frontier Airlines Holdings Inc., Aloha Airgroup Inc., Champion Air, ATA Airlines Inc. and Skybus Airlines Inc. have already expressed their interest in principal.

Silverjet’s , MAXjet’s and L'Avion’s invitations are still pending acceptance as the companies pull all the corporate strings they can afford to avoid what it seems an unavoidable acceptance in the kind request to join the group of BANKRUPT Air carries.

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