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Non-Tech : Aviation Industries (AVIA:OTC BB)
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To: Cheeseburger who wrote (42)4/18/1999 1:05:00 PM
From: hoopsville  Read Replies (1) of 46
 
Sunday NY Times, page 40: Kiwi International Air Lines, which was grounded by Federal regulators last month, reached a settle with the FAA late Friday that allows it to apply to regain its operating license....Under terms of the settlement, Kiwi's license will be placed on indefinite suspension instead of being revoked. In turn, the airline agreed to drop its legal challenge to the FAA's action, which was scheduled to go to court on Tuesday. The deal must still be approved by the Federal bankruptcy court. Rob Kulat, a spokesman for Kiwi, said the airline could be flying again in 120 days. In addition to being certified as safe by the FAA, airlines must also be deemed financially fit by the Department of Transportation. Charles Stanziale, the court-appointed trustee now running Kiwi, said in a statement yesterday that the airline "will work slowly toward the ultimate goal of restarting."
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