Business-Class Only Airline Grounded
The business class carrier EOS has filed for Chapter 11 bankruptcy protection. EOS was one of a number of new transatlantic services that offered flights with only business class seats and flew between JFK and Stanstead airport. The homepage of the ‘unairline’ says:
This announcement is particularly regrettable since we have achieved so much, including having a term sheet in hand for additional financing. Clearly, even in today’s challenging economic and credit environment, investors believe in Eos. Unfortunately, some issues arose that prevented the parties from moving forward.