=20 ---------------------------------------------------------------------- This article was sent to you by someone who found it on SFGate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=3D/n/a/2005/05/13/financial/= f091406D27.DTL --------------------------------------------------------------------- Friday, May 13, 2005 (AP) Airliner Jetsgo Declares Bankruptcy (05-13) 09:14 PDT MONTREAL, Canada (AP) -- Discount airline carrier Jetsgo, which stopped flying in March, announced Friday that it is bankrupt. Jetsgo founder Michel Leblanc had hoped to have the carrier operating again by late June but he was unable to persuade some of the airline's creditors to agree to his restructuring plan. Jetsgo had submitted a plan to Transport Canada to resume operations as a radically smaller carrier with eight aircraft. The airline had 29 aircraft before it abruptly shut down two months ago, stranding thousands of passengers during the spring break holiday. In the months before it stopped flying, Jetsgo had endured a series of operational botches, stranding hundreds of people during Christmas storms and sparking a Transport Canada probe with a wild landing in Calgary in January. The airline, which had 1,200 employees, lost 55 million Canadian dollars ($44 million) in the eight months ending Feb. 28, according to court documents. ---------------------------------------------------------------------- Copyright 2005 AP