Tuesday, January 24, 2017

Freedom Air assets up for sale

The A.B. Won Pat International Airport Authority of Guam has given notice that it intends to sell off the assets of defunct Freedom Air.

The Guam airport authority sent out a notice yesterday from the Guam Superior Court stating that Freedom Air assets are now up for auction after it received lien of the assets back in 2015. The auction would be held on Feb. 2, 2017, in Tiyan, Guam.

Freedom Air is a Guam airline that used to offer flights to and from the CNMI.

The auction notice specified that all sales are “as-is” and “where is” without warranty, with respect to merchantability, fitness for any purpose, condition, or any other warranty, and shall be subject to any existing liens.

The Commonwealth Development Authority on Saipan estimates the assets of Freedom Air to sell for about $1.3 million.

In April 2015, the CDA board voted to foreclose on liens on any and all properties and aircraft of Freedom Air. It said that Freedom Air owes it $1.3 million.

Freedom Air has been serving the CNMI for 37 years before filing for bankruptcy back in 2013.

Saipan Tribune archives state that Freedom Air’s Cessna 207, Sherpa Cargo, and Piper airplanes are among the properties at the Guam airport. 

Read more here:  http://www.saipantribune.com

No comments: