Congress took most of the month of January off, and when it returned to the business of the nation, the Enron bankruptcy captured its attention. A multitude of congressional committees undertook to explore the whys and wherefores of the collapse. The Democrats sought ties between Enron, President Bush and Vice President Cheney.
As companies merge, expand, downsize, change top executives or declare bankruptcy, their flight departments are often significantly affected. In the past several weeks, four major companies with flight departments have filed for protection under Chapter 11. More than 20 corporate jets were operated by these four companies, and none is currently more visible than Enron.
Mesa Air Group has hired celebrated attorney Daniel Petrocelli and asked for a new trial after U.S. Bankruptcy Court Judge Robert Faris ruled that Mesa must pay Hawaiian Airlines $80 million for misusing proprietary information it obtained during a failed attempt to participate in Hawaiian’s bankruptcy restructuring. Petrocelli, who represented the family of Ron Goldman in the civil trial against O.J.
Somewhat lost in the shuffle of recent events, NBAA and the General Aviation Manufacturers Association (GAMA) have released the second part of a study of how the use of business aircraft affects shareholder value.