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Sat, Feb 27, 2016

Aero-News: Quote Of The Day (02.27.16)

Aero-News: Quote of the Day

ANN's Quote of the Day usually derives from current news, though we reserve the right to pick quotes out of history that have a bearing on the day's events and issues.

Sometimes, you'll find them timely and in keeping with the content of the day's news... and sometimes, they'll just be thought-provoking.

Reader suggestions and comments are welcome... and if particularly intriguing, timely, or poignant, may themselves become future Quotes of the Day.

Let us hear from you, folks!

Aero-News Quote of the Day

"We worked hard to avoid this step. Over the last several months, we've attempted to restructure the obligations on our out-of-favor aircraft - made so by a nationwide pilot shortage - and to increase our revenues. It's become clear that this process has reached an impasse and that any further delay would unnecessarily waste valuable resources of the enterprise. Our filing today is a result of our loss of revenue during the past several quarters associated with grounding aircraft due to a lack of pilot resources, combined with the reality that our negotiating effort with key stakeholders shows no apparent prospect of a near term resolution."

Source: Bryan Bedford, Republic's chairman, president and chief executive officer. The company has filed for Chapter 11 bankruptcy protection.

FMI: http://cases.primeclerk.com/RJET

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