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Direct Air parent in bankruptcy

By Samantha Bomkamp

 |  Associated Press  

  March 17, 2012

Just three days after abruptly stopping service and leaving travelers stranded, the parent of discount airline Direct Air has filed for bankruptcy protection. Southern Sky Air & Tours LLC late Thursday filed for Chapter 11 protection in Worcester, Mass. Court documents show the company has between $10 million and $50 million in debt and just $500,000 to $1 million in assets. The company has not yet filed several documents required by the court as part of the bankruptcy filing process, including a list of its top 20 creditors.

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