On September 19, 2023 IAero Airways filed chapter 11 reorganization in a U.S. bankruptcy court in Miami Florida. iAero Airways is a FAA certified Part 121 air carrier providing passenger charter and air cargo operations. The operator was originally founded in 1997 as Swift Air and became acquired by iAero group in 2019. According to planespotters.net there are 32 aircraft in service consisting of Boeing 737-300, 400 and 800 series aircraft. iAero operates cargo on behalf of DHL using Boeing 737 800 aircraft. They also provide ad hoc charter for Havana Air similar to what Global Crossing Airlines did for Red Way.
Maintaining Operations
According to iAero senior lenders have agreed to provide restructuring supporting $22.5 million in debtor in possession financing. This will allow iAero Airways to operate without disruption. All customer flights are expected continue as scheduled. In a recent press release Timothy Rainey President of iAero Airways stated that “After careful consideration, our board determined it was necessary to take this step now to address our financial strength and restructure certain of our contractual relationships and legacy balance sheet liabilities.” He emphasizes that customers remain top priority and can expect the same reliable service as before.