Superior Air Charter proposes sale procedures; DIP lender lead bidder

By Caroline Salls

Pittsburgh, May 21 – Superior Air Charter, LLC requested court approval of the bid procedures for the proposed sale of substantially all of its assets, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

The company said its debtor-in-possession financing lenders will serve as the stalking horse bidder.

Competing bids are due by 5 p.m. ET on Aug. 3, with a base price of $3.6 million. The minimum overbid amount will be $165,000.

An auction will be held on Aug. 10, if necessary.

The bid procedures hearing is scheduled for June 10.

Superior Air Charter is a Dallas-based transportation company. The company filed bankruptcy on April 28 under Chapter 11 case number 20-11007.

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