International Lease Finance (ILFC)is attempting to help Las Vegas-based National Airlines escape from Chapter 11 bankruptcy protection, which it filed for last December. National has lost $22 million since moving into Chapter 11 and has debts of $100 million. ILFC says it is "working with another major travel industry entity with significant ties to the Las Vegas market, and which has a serious interest in the restructuring of National Airlines". The lessor, however, says it has not agreed to convert debts into equity in the airline.
Source: Flight International
