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Article: Revival Unlikely for Atlanta-Based Private Jet, its Lawyer Says.(Originated from The Atlanta Journal and Constitution)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- April 28, 1995
- Author:
CopyrightCOPYRIGHT 1995 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ATLANTA--Apr. 29--Private Jet, the Atlanta-based airline that was once named one of the nation's fastest-growing Hispanic-owned businesses, is unlikely to ever get off the ground again, its lawyer says. And to make matters worse, a key figure trying to revive the airline is under federal indictment for his alleged role in the collapse of Braniff Airlines in 1992.
Private Jet, which had $100 million in annual revenue as recently as 1993, has been on a respirator for months. The Internal Revenue Service seized the carrier's remaining assets April 13 because it was owed $226,000.
"I'd be very surprised if it came back as an airline," Private Jet attorney Tom ...