Eos Airlines files for bankruptcy

Monday, April 28, 2008

All-business transatlantic company Eos Airlines has filed for Chapter 11 bankruptcy protection. The United States based company ran flights between London Stansted Airport and New York's John F. Kennedy International Airport.

Eos, named after Greek goddess of the dawn, flew what will likely be its last service on Sunday. Founded in 2005, the airline had had difficulty in securing investment to keep it going, starting last year. Plans had been aiming for securing funding to keep the service running up until 2009, but this failed and the business has insufficient funds to continue.

Several other airlines have closed worldwide recently over difficult conditions in the industry, including all-business carriers like Eos. Last year the sudden collapse of MAXjet Airways left passengers stranded on Christmas Eve. The company offered services connecting London with New York, Los Angeles and Las Vegas. Eos had been considered by analysts as the most viable of the transatlantic all-business carriers.