Skybus says it needs three-month exclusivity extension to develop consensual plan of liquidation

By Jennifer Lanning Drey

Portland, Ore., July 10 - Skybus Airlines, Inc. asked the U.S. Bankruptcy Court for the District of Delaware for an extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Thursday filing.

The company wants to extend the exclusive plan-filing period to Nov. 3 from Aug. 3 and the solicitation period to Dec. 30 from Oct. 2.

Skybus said it has made progress toward developing a consensual plan of liquidation; however, the initial exclusive periods did not provide an adequate amount of time given the size and complexity of the company's case.

The company said it needed the additional time to continue to liquidate its remaining assets and to resolve contingencies that are essential to being able to form a confirmable plan.

A hearing has been scheduled for July 30.

Skybus was a Columbus, Ohio-based airline. The company ceased operations and filed for bankruptcy on April 5. Its Chapter 11 case number is 08-10637.

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