American Falcon

American Falcon

American Falcon Airline codes|WK|AFB|AMERICAN FALCON was an airline based in Buenos Aires, Argentina. Its main base was Ezeiza International Airport, Buenos Aires. The airline under the management of L'Emir Fayez Chehab, its CEO, failed to generate enough revenue to cover its operating costs for many years, had a large negative net worth and could not meet its debts to many parties, including its employees, insurance, airplane maintenance vendors and airplane lessors. The airline finally failed and filed for bankruptcy in Summer 2005.

Fayez Chehab, its CEO and Willis Chrans, a U.S. director were sued by investors in U.S. Federal District Court for violation of Racketeering and Conspiracy laws "RICO" and securities fraud, among other allegations in a 21-count lawsuit. The RICO counts were dismissed by the court and the case continues as a U.S. Federal Securities Fraud case, among other counts.

History

The airline was established in 1996 and started operations in 1998. It started as a charter airline with wet-leased aircraft from LADE - Lineas Aereas Del Estado. In May 2004 it resumed scheduled domestic flights between Buenos Aires and Iguazu and plans services to Córdoba and Mendoza. American Falcon is owned by Fayez Chehab (95%) and Elvira Tavela (5%). Chehab was voluntarily dismissed by the plaintiffs without prejudice as they were unable serve Chehab in Argentina.

The company filed a Concurso, or the Argentine equivalent to a Chapter 11 Reorganization on May 20, 2005.

American Falcon ceased operations in July, 2005 after its insurance was cancelled for non-payment and the company was liquidated.

On September 1, 2005, Fayez Chehab, the CEO and Willis Chrans, a U.S. Director on the board of American Falcon, Bank of Springfield, Springfield, Illinois, Michael McGlasson, President of Bank of Springfield and James Kelley, Senior Vice President of Bank of Springfield, Steven Bentley, CPA, Donald Mallette and Dr. Randolph Martin were sued by investors of American Falcon in U.S. Federal District Court, Central District of Illinois in a 104 page civil complaint, alleging among other counts, violation of the Federal Racketeer Influenced and Corrupt Organizations Act (“RICO”). The RICO counts were dismissed and the case has progressed to trial in Springfield, Illinois.

Services

In July 2005, American Falcon ceased operations of its scheduled domestic and international passenger charter flights.

Fleet

As of January 2005, the American Falcon fleet consisted of 2 Boeing 737-200 aircraft. The two aircraft were leased from U.S. companies.

External links

* [http://www.americanfalcon.com.ar/ American Falcon]


Wikimedia Foundation. 2010.

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

  • American Falcon — Saltar a navegación, búsqueda American Falcon (Código IATA: WK, código OACI: AFB) fue una aerolínea de Argentina que brindaba servicio a las ciudades de Paraná, Salta, Tucumán y Puerto Iguazú.[1] Fue fundada en 1996 y comenzó sus operaciones en… …   Wikipedia Español

  • American kestrel — n. a small American falcon (Falco sparverius) with a reddish brown back and tail; sparrow hawk …   English World dictionary

  • American kestrel — noun small North American falcon • Syn: ↑sparrow hawk, ↑kestrel, ↑Falco sparverius • Hypernyms: ↑falcon • Member Holonyms: ↑Falco, ↑genus Falco * * * …   Useful english dictionary

  • American kestrel — a small American falcon, Falco sparverius, that preys esp. on grasshoppers and small mammals. Also called sparrow hawk. * * * …   Universalium

  • Falcon Heights (Minnesota) — Falcon Heights Lage im County …   Deutsch Wikipedia

  • Falcon 50 — Falcon 50M Surmar (Marine française) Constructeur …   Wikipédia en Français

  • Falcon Entertainment — Saltar a navegación, búsqueda Falcon Entertainment Tipo Empresa privada Fundación 1971 Sede …   Wikipedia Español

  • Falcon Down — was an action film from 2000 directed by Philip J. Roth and starring Dale Midkiff, William Shatner, Judd Nelson, Jennifer Rubin and Cliff Robertson.toryDVD synopsis: The biggest U.S. military project in history, the XB 1000 Mach 6 stealth bomber… …   Wikipedia

  • Falcon Village — Falcon Village …   Deutsch Wikipedia

  • Falcon Cyclecar — (1914) Die Falcon Cyclecar Company war ein US amerikanischer Automobilhersteller in Staunton (Virginia). Die Gesellschaft wurde zwar in Cleveland (Ohio) gegründet, zog aber bald nach Staunton um. 1913 und 1914 wurden dort Cyclecars unter dem… …   Deutsch Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”