US Tower Air shuts down passenger service.

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Tower Air shuts down passenger service.

NEW YORK (AP) -- Tower Air, which filed for bankruptcy protection earlier this year, discontinued its scheduled passenger service out of John F. Kennedy International Airport.

A spokesman at the airline's operations office said the airline stopped outgoing flights at 6:30 p.m. Monday. The airline planned to continue with military and charter flight service.

The number of Tower passenger flights affected was not immediately available.

Tower officials did not return telephone calls this morning. Calls to a flight information line were answered with a recorded message: "You have selected an invalid option." The latest news on the company's Web site this morning was dated February 29.

(snip)

CNN

Tower Air website

-- Rachel Gibson (rgibson@hotmail.com), May 03, 2000

Answers

The fact that the latest news was dated Feb. 29 on the company's web site would seem to indicate that technical problems could well have had something to do with this bankruptcy.

I'm a bit surprised that more bankruptcies haven't occurred yet. I suppose they have to start somewhere. Maybe here.

-- Uncle Fred (dogboy45@bigfoot.com), May 03, 2000.


Corporate bankruptcies in Japan have been sky high since the first of the year. I think more in the U.S. are coming.

-- Wellesley (wellesley@freeport.net), May 03, 2000.

Hasn't anybody noticed the small business bankruptcy figures lately? They are way up.

-- Billiver (billiver@aol.com), May 03, 2000.

Short of bankruptcy, a lot of small businesses are really bleeding. I've noticed, from examining some of the earnings reports of the Russell 2000 that profits are taking a beating.

-- Loner (loner@bigfoot.com), May 03, 2000.

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