Company Says World Airways, North American Airlines Will
Continue To Operate Without Interruption
Global Aviation Holdings Inc., the parent company of World
Airways, Inc., North American Airlines, Inc. and other
subsidiaries, say that to achieve a cost and debt structure that is
industry competitive and continue to provide outstanding service to
its customers, it has commenced a financial restructuring through
the voluntary filing of petitions to reorganize under Chapter 11 of
the U.S. Bankruptcy Code in the United States District Court for
the Eastern District of New York.