Champion Air shutting down May 31st

http://biz.yahoo.com/bw/080331/20080331006223.html?.v=1

BLOOMINGTON, Minn.--(BUSINESS WIRE)--Champion Air announced today that it will cease flight operations May 31, 2008.

“This is a sad day for the entire Champion family,” said Champion President and CEO Lee Steele. “The men and women of this airline have poured themselves into providing safe, reliable and pleasing service to millions of customers over our 11 years in business. Unfortunately, our business model is no longer viable in a world of $110 oil, a struggling economy and rapidly changing demand for our services. Those factors also have impeded our efforts to attract new capital and new investors. Accordingly, the management team and our board of directors have decided that the best course of action is to cease flying and to wind up our operations in a responsible, deliberate manner.”

Alex

Sad, but I think we all saw it coming. Unless oil drops $30 a barrel in the next month or two we will see more of this.

Champion was expected to shut down due to the loss of their sports charters this year. Ashame there's no more pax 727s around.

Very sad....

Wow, this is very upsetting. :(

Very sad,, speacialy that Champion Air happens to be the last US airline to fly passenger version 727s.. catch some shots while you can

The 727's going to the boneyard? I want one! CCP gave it a good run, and this is what todays economy is doing to the industry.

we were the last scheduled pax 727s into jfk back in 03 when good old ccp had a base there,that was an awesome year,i fulfilled my dream of flying the canarsie approach in an airliner,shared a holding pattern with the concorde,and had a crashpad 10 minutes walking/jogging from my old neighborhood in south ozone pk, great people,great jets,awesome flying,God bless 'em they will be missed.