Southern Air Holdings, Inc. has completed its financial restructuring and emerged from Chapter 11.
Southern Air is the first ACMI operator in the world to operate the Boeing 777 freighter and operates four of these aircraft for DHL. Southern Air also operates 747-400F aircraft.
“We have emerged from this restructuring process with substantially less debt, significantly improved operations and resources, and financial flexibility as a well-capitalized global air cargo carrier,” Daniel J. McHugh, Southern Air CEO, said. “Today, we are well-positioned both financially and operationally to continue to build Southern Air for the long-term benefit of our customers, suppliers, business partners, crewmembers and employees. From our new headquarters at the Cincinnati/Northern Kentucky International Airport, our largest air operating hub, we are even better able to grow profitably, delivering the highest quality services to our customers and meeting and exceeding their air cargo needs.”
Southern Air entered Chapter 11 on Sept. 28, 2012 and emerged from the process on April 15 after meeting all closing conditions to the company’s plan of reorganization. The plan was confirmed by the U.S. Bankruptcy Court in Wilmington, Del., on March 14.