Western Global emerges from Chapter 11
Western Global Airlines' plan of reorganisation was confirmed by the US Bankruptcy Court for the District of Delaware after receiving support by all creditors.
Under the plan, the US FAA 121 certified long-haul wide-body cargo airline with worldwide coverage has materially reduced its debt by over USD 460 million and infused new capital into the company, while preserving its workforce and relationships with customers and suppliers.
WGA has emerged with its entire pre-petition fleet of four B747-400 and fifteen MD-11 operational freighters intact, as well as two MD-11F's that have not yet been conformed, eleven part-out aircraft, and a large inventory of parts, materials, and tooling. Further, during the Chapter 11 process, the company completed the overhaul of seven spare CF6-80C2 engines. (ah)