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| Version | User | Scope of changes |
|---|---|---|
| Oct 12 2008, 1:30 PM EDT (current) | jimglab | 239 words added |
| Oct 12 2008, 1:30 PM EDT | jimglab |
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But MSP-based airline keeps flying
Sun Country Airlines, based at Minneapolis-St. Paul, has field for Chapter 11 bankruptcy but vowed to continue operating its normal schedules. Last week, the airline had said it was looking for an injection of capital or some relief from its lenders, and was also suffering from a public relations problem due to an ongoing fraud investigation of its largest shareholder by federal authorities. That individual, Thomas Petters, heads up Petters Group Worldwide, which controls a variety of businesses in addition to Sun Country; there was no indication that the airline was involved in the federal investigation. Following a raid on his home and offices, Petters was arrested and jailed. In announcing the Chapter 11 filing on Monday (October 6), Sun Country CEO Stan Gadek, said: “We were forced to take this action as a result of recent events at Petters Group Worldwide. We do not anticipate any disruptions, and expect to continue business as usual.” He told a Minneapolis newspaper that the airline had been counting on securing a loan from Petters Group Worldwide. Sun Country serves a number of business destinations from its base at MSP, including New York JFK, Dallas/Ft. Worth, Los Angeles, Seattle, Phoenix, Las Vegas, Orlando and San Diego. The carrier operates 30 flights a day out of MSP, and even more during the winter when it flies seasonally to leisure destinations in Mexico.
