International pilot academy at Ryan Airfield files for bankruptcy
Tucson, Arizona: A Tucson-area pilot-training school has filed for bankruptcy, citing at least $1 million owed to creditors.
The International Airline Training Academy, which trains hundreds of students per year at its Ryan Airfield facility, filed for chapter 11 bankruptcy protection late last week.
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The academy’s attorney, Scott Gibson, blamed bad contracts with Chinese airlines amid rising costs for fuel and to pay instructors.
Pima County Superior Court documents had showed the company owing about $1 million to Bank of America for business loans, and has been sued in the past for failing to pay a vendor for services.
In mid-2003, IATA moved its operations to Ryan from Glendale Municipal Airport, purchasing a building and 18 planes from KLM and leasing the land from the Tucson Airport Authority.
31/03/08 Jack Gillum/Arizona Daily Star, USA