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METRO AIRLINES ANNOUNCES PLAN OF REORGANIZATION EFFECTIVE AND EMERGES FROM BANKRUPTCY

 DALLAS, Dec. 23 /PRNewswire/ -- Metro Airlines, Inc. (OTC) today announced that its plan of reorganization, which was confirmed by the United States Bankruptcy Court in Dallas on Dec. 11, 1992, has become effective and that Metro and its subsidiaries have emerged from bankruptcy. Metro also announced that the sale of substantially all of the assets of its subsidiary, Metroflight, Inc., to Simmons Airlines, Inc. has been completed and that all pending litigation between Metro, Metroflight and American Airlines has been dismissed with prejudice.
 -0- 12/23/92
 /CONTACT: Brian K. Miller, chief financial officer of Metro Airlines, Inc., 214-453-4403, or Larry Howell of Howell Communications, Inc., 214-340-9994, for Metro Airlines/


CO: Metro Airlines, Inc. ST: TEXAS IN: AIR SU:

WB -- NY060 -- 9725 12/23/92 17:11 EST
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Publication:PR Newswire
Date:Dec 23, 1992
Words:128
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