Printer Friendly

CONQUEST AIRLINES AGREES TO SETTLEMENT WITH PRATT & WHITNEY

 AUSTIN, Texas, Jan. 7 /PRNewswire/ -- Conquest Airlines Corp. (NASDAQ: CAIR) a regional airline serving Texas and Arkansas, has agreed to settle all claims against Pratt & Whitney Canada, United Technologies and affiliates for a net amount of $1,100,000 after all attorneys' fees and other expenses.
 This settlement is in addition to a previous settlement of $400,000 for claims against Woodward Governor Company and an extraordinary gain in excess of $8 million in connection with the settlement of a lawsuit against Beech Aircraft Corporation and its affiliates. Total amount credited to Conquest as a result of all lawsuits related to aircraft operated prior to October 1991 is thus approximately $10 million.
 Since October 1991, Conquest has been utilizing leased Fairchild Metro III 19-seat aircraft and is currently operating some 1,900 flights per month serving 11 cities in Texas and Arkansas.
 Victor M. Rivas, chairman and chief executive officer of Conquest, said, "We are pleased to have concluded all legal proceedings. We can now concentrate all our efforts on operating, improving and expanding our airline service and achieving profitability."
 -0- 1/7/93
 /CONTACT: Victor M. Rivas, chairman and CEO of Conquest Airlines, 512-929-6706/
 (CAIR)


CO: Conquest Airlines Corp. ST: Texas IN: AIR SU:

PS-SM -- NY019 -- 2530 01/07/93 09:30 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 7, 1993
Words:214
Previous Article:DECEMBER DOMESTIC COMPARABLE STORE SALES ROSE 1.0 PERCENT AT WOOLWORTH CORPORATION
Next Article:ABB GROUP FORMS JOINT VENTURE IN CZECH REPUBLIC
Topics:


Related Articles
CONQUEST AIRLINES FILES FOURTH AMENDED PETITION AGAINST DEFENDANTS
FIRST PRATT & WHITNEY PW4084-POWERED 777 DELIVERED TO ANA
JAPAN AIRLINES TAKES DELIVERY OF ITS FIRST BOEING 777 AIRLINER
Indian Airlines Will Be First Carrier in India to Fly Pratt & Whitney-Powered A330 Aircraft.
Great Wall Airlines Selects Pratt & Whitney Global Service Partners for Fleet Maintenance.
Great Wall Becomes First Chinese Airline with EcoPower(R) Service Agreement.
Korean Air Selects Pratt & Whitney PW4000 Advantage70(TM) Engines in $300 Million Deal.
Pratt & Whitney and Malaysia Airlines announce 50/50 JV for engine nacelle repair.
Pratt & Whitney selected by China Airlines for inventory logistics programme.
Pratt & Whitney signs exclusive V2500 engines agreement with Royal Brunei Airlines.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters