The U.S. Bankruptcy Court for the District of Arizona granted conditional approval to Swift Air of its proposed second amended disclosure statement and authorized the company to immediately begin the process of soliciting creditor acceptances of its proposed plan of reorganization, PRNewswire reported today. The bankruptcy court has also scheduled a confirmation hearing on the company's reorganization plan for Sept. 30. The creditors' committee in the company's chapter 11 case has given its full support and endorsement of the company's plan and strategies for emergence from bankruptcy, anticipated to occur by mid-October. In addition, the court has authorized the company to secure additional Boeing 737 aircraft to support s current clientele and to serve new customers with its planned diversification into the ACMI (aircraft, crew, maintenance and insurance) market.
