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Evergreen International Airlines: Bankruptcy

 

On December 31, 2013 the Oregon based Evergreen International Airlines filled for a Chapter 7 petition in federal bankruptcy court in Delaware. The bankruptcy filing lists seven entities as submitting the Chapter 7 petition: Evergreen Aviation Ground Logistics Enterprise, Evergreen Defense and Security Services, Evergreen International Airlines, Evergreen International Aviation, Evergreen Systems Logistics, Evergreen Trade, and Supertanker Services.

 

Established by Delford Smith in 1960 as Evergreen Helicopters, Evergreen International Airlines was a cargo airline based in McMinnville, Oregon, United States. It operated contract freight services, offering charters and scheduled flights, as well as wet lease services. It operated services for the U.S. military and for the United States Postal Service. Evergreen also maintained a large aircraft maintenance and storage facility at the Pinal Air Park in Marana, Arizona that the company acquired from the CIA’s Air America  fleet.



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One of Evergreen’s Boeing 747 airplanes starred in the 1990 action film Die Hard 2. Additionally, Evergreen Boeing 727′s were featured in numerous Hollywood films including the box office hit Donnie Brasco with Al Pacino, and The Rookie with Clint Eastwood.

 

According to Bloomberg News, Evergreen International Airlines, the provider of air freight and transport services, sought bankruptcy protection two weeks after creditors asked a court to force the company to pay off its debt. The court petition cited $100 million in assets and as much as $500 million in debt.

 

Evergreen International Aviation’s managers told customers they were ceasing operations, and that they were no longer providing ground-handling services for major airlines at numerous U.S. airports.

 

Image Credit: www.oregonlive.com

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Jaan Posted by on January 2, 2014. Filed under Business News,Home,Legal News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.