Eos failure leaves passengers stranded and out of pocket
28.04.08
Eos Airlines, the Stansted based premium all business transatlantic carrier that filed for bankruptcy over the weekend, has left passengers stranded and out of pocket. Most of the company's 450 employees have also lost their jobs.
Customers who have future travel plans with Eos are being encouraged to obtain a refund from their credit-card company or travel agent. Frequent-flier miles will not be redeemed and the company cannot refund tickets of future flights, the Eos website says.
David Spurlock, a former British Airways executive, founded Eos in 2003 with $187m in venture capital. The company has $70m in assets and owes $34.9m, according to online versions of its Chapter 11 filing documents.
The company owes the most money to Servisair LLC, which provides ground services. Among its top creditors are Campañia Mexicana de Aviacion, a Mexican airline; Delta Airlines; New York's John F. Kennedy International Airport; and United Airlines. It looks like BAA got off lightly.
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