Global Aviation Seeks to Cut Planes as Military Missions End

Global Aviation Holdings Inc., the biggest charter-flight company for U.S. military troops, plans to reorganize by getting rid of more than half of its aircraft, citing the end of flying missions to Iraq and Afghanistan.

Of 30 aircraft leases, the company would like to reject 16 “excess aircraft” to save about $40 million a year. The leases are all for planes made by Boeing Co. and include six MD-11 freight aircraft, three MD-11 passenger aircraft, two 747-400 freight aircrafts and five 757-200 passenger planes. Engines are made by General Electric Co., Pratt & Whitney and Rolls-Royce Holdings Plc, according to papers filed today in U.S. Bankruptcy Court in Brooklyn, New York.