US cargo operator Atlas Air is considering filing for Chapter 11 bankruptcy protection as it seeks to reach agreement with several creditors as part of its restructuring plan. The company says it has various alternatives to restructuring the business, including filing a pre-negotiated Chapter 11 plan which would be designed to allow the carrier to quickly enter and emerge from bankruptcy protection with minimum disruption. The move is seen as putting pressure on those creditors that have not agreed to rescheduling debt payments.
Source: Flight International