A federal judge has ordered New Orleans-based startup GLO Airlines to sell all of its assets and pay its debtors, NOLA.com reports.
FlyGLO LLC, the airline’s parent company, filed for bankruptcy protection in April and sought to restructure as it assured customers flights would continue. But the airline was grounded in July following a dispute with the firm that manages and operates its flights.
A court-appointed trust overseeing the bankruptcy asked a judge to order GLO to sell its assets in August, noting it had racked up more than $421,500 in unpaid bills in fewer than three months.
The judge ordered order GLO to liquidate on Sept. 1.
GLO Airlines was founded in 2015 by New Orleans business man Trey Fayard, who saw a need for more nonstop connections between Louis Armstrong International Airport and regional hubs on the Gulf Coast and in the Mid-South.
