Southern Air Holdings, parent of Southern Air (9S), has filed Chapter 11, citing the impact of major spending cuts by the US Dept. of Defense and an uncertain economy. The air cargo carrier said it will continue normal operations and aims to implement a reorganization plan “as quickly as possible.” It reached an agreement with lenders to restructure its balance sheet and reduce an approximate $285 million in legacy debt by two-thirds. It also has a $25 million ...

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