Military cargo mover National Air Cargo Inc. filed for bankruptcy protection on Friday, citing being hit with a multimillion-dollar legal judgment in an airplane leasing dispute just as the industry began to struggle due to slower business from the U.S. military, Dow Jones Daily Bankruptcy Review reported today. National Air Cargo executives said that chapter 11 protection will give them time to fix the New York company's "operations and financial performance" while they continue to appeal a $9.9 million award, according to court documents.
