Has Operated As A Regional Charter Carrier From KMSY Since 2015

New Orleans-based GLO Airlines has filed for bankruptcy protection, and has been ordered to cease operations by Thursday, according to court records.

The New Orleans Advocate reports that the filing came on Sunday, with FlyGLO LLC voluntarily seeking bankruptcy protection in federal court. The carrier listed assets and liabilities of between $10 million and $50 million, and as many as 49 creditors.

According to court documents, the largest creditor to the airline is GE Engine Services of Ohio. GLO reportedly owes nearly $980,000 to that company. It is also being accused of being behind on its lease payments on three Saab 340B aircraft, which are operated by Corporate Flight Management Inc., a third-party company. Corporate Flight Management sent a notice to GLO this month saying it was in breach of contract for falling behind on payments dating back to March. The company notified GLO and the Department of Transportation that the contract was terminated due to non-payment. GLO contests that it is in default of its contract.

GLO spokesman Jordan Mitchell said in a statement released Monday that the reorganization is due to the carrier's dispute with Corporate Flight Management, and that the carrier is looking at solutions that will "get us back flying a full schedule."

GLO operates non-stop service from New Orleans (KMSY) to Little Rock, AR, Memphis, TN and Huntsville, AL.

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FMI: Original Report