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Falcon Air, owned by DAE Director, files for bankruptcy

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Falcon Air, owned by DAE Director, files for bankruptcy

Unread post by bimjim » Mon Jun 08, 2015

http://curacaochronicle.com/main/falcon ... ankruptcy/

Falcon Air, owned by former DAE Director, files for bankruptcy
Mon, Jun 8th, 2015

MIAMI

The Miami based charter airline, Falcon Air Express turned its certificate to the Federal Aviation Administration (FAA) on June 5 of this year following the loss of a contract with the U.S. Department of Justice. It was also indicated that the aviation company was coping with a mounting debt. Falcon Air Express has also filed for bankruptcy.

The airline was established in 1995 and started operations in March 1996. It was then privately owned and was founded by Emilio Dirube (President and Chief Executive). It was certified as a US domestic airline in 1998, operating the Boeing 727-200 to mostly Caribbean destinations.

In May 2006, Falcon Air Express filed for Chapter 11 bankruptcy protection and laid off 73 of its 169 employees. However, in 2009, it was bought by the Ramiz Family and after some years of restructuring, as of December 2011, they were once again employing over 150.

In the two months preceding the June 5, 2015 closure, the workforce was reduced to about 50 employees, all working with the promise they would be paid in the near future. When the company finally closed, many of these employees were left owed the equivalent of over two months’ salary.

Falcon Air Express also provided scheduled service from Miami to Curaçao under the banner Dutch Antilles Express (DAE) which also filed for bankruptcy in 2013.

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