Ft.Lauderdale airline files for bankruptcy. The economy has hit all of Broward County hard. No area has been spared. People in Ft.Lauderdale, Plantation, Sunrise, Pembroke Pines, Davie, you name it. Jobs have been lost. People that used to work full time are now only working part-time. Medical bills have hit many. Health care costs have continued to rise. There is only so much the pocketbook can take. Many in Broward County have had to turn to a bankruptcy lawyer for help. The situation has gotten so bad a Ft.Lauderdale based airline also had to consult with a bankruptcy attorney. The Broward based airline had to file a Chapter 7 bankruptcy to address its bills. Florida Coastal Airlines filed a Chapter 7 bankruptcy. It will liquidate and go out of business. For those not familiar with the airline, it was founded in 1995. The airline tried to get its share of the lucrative South Florida airline market. It operated services from South Florida and flew into the Bahamas, Haiti, and Cuba. It used to fly out of the Ft.Lauderdale-Hollywood International Airport. The service to that airport ended in 2010. The competition in South Florida proved to be too much. The area is home to three major airports in Miami, Ft.Lauderdale-Hollywood, and Palm Beach. Many airlines compete on the same routes. That is great for consumers. Not so great for the airlines. Florida Coastal had no other option. Filing a Chapter 7 bankruptcy was the only way out. In the bankruptcy filing, the airline listed only $485.90 in assets. It owed over $2 million dollars to creditors. Thankfully, a bankruptcy lawyer was there to help. The debts had to be handled. A Chapter 7 bankruptcy will allow the airline to clean the slate. The airline did what many in Broward County have had to do since the economy went downhill. Consult with a bankruptcy lawyer. Get a fresh start and go on with life instead of worrying about bills that can never be paid.
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