Luxury private aviation charter Zetta Jet filed for bankruptcy on 15 September in US District Court in Los Angeles, claiming the exclusive Bombardier operator has between $50 and $100 million in liabilities.
Singapore=based Zetta Jet launched two years ago and now operates a fleet of five Global Express and seven Global 6000 aircraft. As the company last year announced a North American expansion, its order backlog included more Global 6000s and Challenger 650s from Bombardier Business Aircraft.
The status of those orders are unclear, but Bombardier is listed in Zetta’s bankruptcy filing as by far the company’s largest creditor. Bombardier is owed $15.1 million in “contract liquidated damages”, court documents show. Zetta also owes World Fuel Services and Rolls-Royce more than $4 million in unpaid bills.
Zetta’s filing also indicates that the company has no funds are available to pay back unsecured creditors after administrative expenses.
Source: FlightGlobal.com
