Dynamic International Airways files for bankruptcy
North Carolina based Dynamic International Airways has filed for voluntary Chapter 11 bankruptcy protection.
The Greensboro airline provides charter and contract commercial air services and operates a fleet of Boeing 767 jets.
Dynamic says it intends to operate as normal while it negotiates an extended credit facility and reorganizes.
It comes just days after announcing a new service from Nanchang, China to Ontario, CA, the first ever flights linking the small LA-area airport with China.
The airline has been in litigation for the past few years over its failure to pay commissions for Hajj flights it operated for Air India.
"Operating under the protection of the US Bankruptcy Court will enable us to continue to serve our customers, keep our team employed and work with our vendors while we navigate through the challenges presented," CEO Paul Kraus said.
Once we have completed the reorganization process, we expect Dynamic to emerge as a stronger company with a sound financial structure that is appropriate not only for today’s level of business activity, but also for the future."
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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