Vanguard Airlines suspends operations, plans bankruptch filing

KANSAS CITY, MISSOURI - Unable to find the new financing it needs, struggling Vanguard Airlines suspended operations Tuesday, saying it would lay off nearly all its employees and file for Chapter Eleven bankruptcy organization. <br> <br> The Kansas City, Missouri-based discount carrier has never shown an annual profit in eight years of operation. A recorded announcement on its reservation line early Tuesday said all of Tuesday&#39;s and Wednesday&#39;s flights had been cancelled and all other flights scheduled after that have been suspended indefinitely. <br> <br> Atlanta was one of 17 cities listed as destinations by the carrier, which specialized in low fares. <br> <br> Scott Dickson, Vanguard&#39;s chairman and CEO, told The Kansas City Star that the failure to secure the financing it needed was forcing the company to plan the Chapter Eleven filing. <br> <br> Elizabeth Cattell, Vanguard&#39;s vice president or marketing and advertising, said nearly 1,100 employees, including about 915 in Kansas City, will be terminated before the Chapter Eleven filing. A skeleton crew of about 60 will stay in hopes that additional financing can be obtained.

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