iAero Airways Files for Chapter 11 Bankruptcy Protection

DALLAS — B2B passenger charter and cargo air carrier iAero Airways (WQ) has filed for Chapter 11 bankruptcy protection at a court in Florida. The move comes as WQ aims to reorganize its operations and pave the way for a return to profitability.

Senior lenders have agreed to provide restructuring support for US$22.5 million in debtor-in-possession financing, allowing the carrier to operate without disruption. The airline reassured its customers and stakeholders that all WQ flights are expected to continue as scheduled.

The history of WQ dates back to 2019 when it acquired Swift Air, a well-established airline that had been operating since 1997. This acquisition solidified WQ's position in the industry and enabled them to expand their services.

The airline prides itself on being the largest B2B passenger charter and cargo airline in the US.

iAero Fleet, Services

The WQ fleet consists of eight Boeing 737-300s, one 737-300SF, eighteen 737-400s, two 737-400SFs, five 737-800s, and nine 737-800BDSFs and SFs. These aircraft allow the airline to offer a comprehensive range of services, including sports charters, Aircraft, Crew, Maintenance, and Insurance (ACMI) arrangements, and cargo flights.

Notably, the carrier operates cargo on behalf of DHL (D0) using Boeing 737 800 aircraft and provides ad hoc charters for Havana Air, a virtual airline offering scheduled charter services from Miami and Tampa, Florida, to Cuba.

Featured image: iAero Airways N529AU Boeing 737-300 (BDSF). Photo: Luke Ayers/Airways