Sunday, April 27, 2008

Eos Airlines Files Chapter 11, To Cease Operations Today

New York-based Eos Airlines announced Saturday they have filed for Chapter 11 bankruptcy and will cease operations by Sunday afternoon. Established in 2004, Eos is known for their all business class flights, operating daily departures from JFK to Europe. They had announced plans to expand their routes, including flights from Los Angeles.

Jack Williams, Eos' CEO said they were unable to secure additional financing to keep the airline and its unique business model flying. In a press release, Williams added, “there are times in business when even though you execute your business plan and even though your employees do their jobs beautifully, external forces prevent you from controlling your own destiny."