Great Plains Airline's Parts Sold At Auction
Thursday, June 22nd 2006, 10:50 am
By: News On 6
TULSA, Okla. (AP) _ The last parts and pieces of bankrupt Great Plains Airlines has been sold at auction for $285,000.
A German company submitted the winning bid in US Bankruptcy Court for the Northern District of Oklahoma in Tulsa.
The inventory ranges from a 3 cent rivet to a more than $91,000 electronic engine control unit. Other items include life vests for children, adults and crew, crew oxygen masks, landing gear parts, circuit breakers, clamps and washers.
Tulsa-based Great Plains used $15-million in state tax breaks and a loan to start airline service April 6th, 2001. It filed for bankruptcy protection in January 2004 and went into liquidation proceedings in March 2005.
The company has more than $60-million in debts.