American cargo airline Evergreen International Airlines Inc. on December 31 sought bankruptcy protection. The provider of air freight and transport services filed for bankruptcy two weeks after creditors asked a court to force the company to pay off debt.
According to Bloomberg, the petition filed in the US Bankruptcy Court in Wilmington, Delaware cited as much as $100 million in assets. The said petition also stated up to $500 million in debt.
Some creditors are seeking to force Evergreen to pay its bills. The said creditors filed papers on December 17 in the US Bankruptcy Court in Brooklyn, New York, the report said.
Also seeking Chapter 7 protection are Evergreen affiliates including Supertanker Services Inc. and Evergreen Defense and Security Services Inc., Bloomberg wrote. Local news daily The Oregonian said that Evergreen Aviation Ground Logistics Enterprise, Evergreen International Aviation, Evergreen Systems Logistics and Evergreen Trade also filed for bankruptcy.
Evergreen provides air freight, maintenance and other services to air carriers, aviation companies and governmental agencies worldwide using a fleet of Boeing 747s, the report said.
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