Express One Is In A Tailspin

EXPRESS ONE INTERNATIONAL, the airline Bill Clinton chartered for his 1992 Presidential quest, has been grounded. On June 5, following a threat by the Federal Aviation Administration to revoke its operating certificate, Express One filed for Chapter 11 bankruptcy protection, grounding its 39 planes and laying off 1,100 of its 1,200 workers. BUSINESS WEEK reported safety problems at the 15-year-old carrier last November, and in late May the company failed to prove to the FAA that certain aircraft parts were airworthy.

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