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Sun Country Airlines Files for Bankruptcy Protection


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Sun Country Airlines, and its parent company Petters Aviation both filed for Chapter 11 bankruptcy protection today.

"We were forced to take this action as a result of recent events at Petters Group Worldwide," Sun Country CEO Stan Gadek said in a prepared statement.

The move comes after former Petters Chairman Tom Petters was arrested last week on charges of mail fraud, wire fraud, money-laundering and obstruction of justice.

Posted by Holly on October 6, 2008 4:06 PM |

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