Phoenix air service files for bankruptcy protection

Posted: Updated:

PHOENIX (CBS5) -

Phoenix-based Swift Air filed for bankruptcy protection Friday, according to the Phoenix Business Journal.

Swift Air provides maintenance and management services for private planes as well as charter aircraft services, according to the Journal.

The company claims it is between $10 million and $50 million in debt compared to the company's $500,000 to $1 million assets.

Bankruptcy filings show the company owes $12.6 million to International Lease Finance Corp., $1.3 million to Saipan Air, $210,000 to US Airways Group Inc., $126,000 to American Express and $387,000 to AvCard World Fuel Services.

The company's operations at Phoenix Sky Harbor International Airport remain open.

Stay with CBS 5 News and cbs5az.com for updates on this story.

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Phoenix air service files for bankruptcy protection - CBS 5 - KPHO

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