PORTLAND, Ore. (AP) - Portland-based SeaPort Airlines has grounded its flights as it faces bankruptcy liquidation.
The Oregonian/OregonLive reports (https://goo.gl/LIWctk) a judge on Tuesday ordered the airline’s Chapter 11 bankruptcy to be converted to a Chapter 7 liquidation effective Wednesday.
The airline’s attempt to reorganize buckled this month after the airline learned it would lose a key contract and a line of credit helping keep it afloat.
An attorney for the airline’s creditors said the fleet would be grounded by 6 p.m. Tuesday. A Portland International Airport spokeswoman confirmed SeaPort would cease operations.
A spokeswoman for the airline couldn’t be immediately reached.
SeaPort, which primarily operates out of its Portland and Memphis hubs, filed for Chapter 11 bankruptcy protection in February.
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Information from: The Oregonian/OregonLive, https://www.oregonlive.com
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