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Atlantic Express Files for Bankruptcy on Union Disputes

Atlantic Express Transportation Corp., a school bus fleet operator, filed for bankruptcy in New York saying the operation is unsustainable because of union labor costs and operating expenses.

The company, based in Staten Island, New York, listed assets of as much as $500 million and the same amount in liabilities in its Chapter 11 filing yesterday in U.S. Bankruptcy Court in Manhattan. Atlantic Express’s 39 affiliates also filed for bankruptcy.