Bankruptcy isn’t just for discount carriers anymore! The all-business class carrier EOS filed for Chapter 11 bankruptcy protection yesterday, and will fly its last flight tonight. Eos envisioned a beautiful world, one where business elites traveled unfettered by proles and crying babies, unless the babies were crying for more gold. That vision lies shattered, hopeless pummeled by rising oil prices and stingy business travelers who will now have to share planes with the rest of us.

Our unique relationship makes it all the more difficult to share with you the news that Eos has filed for bankruptcy in the U.S. Bankruptcy Court in the Southern District of New York. On April 26, 2008, we plan to operate Flight 6 (8:30pm) from JFK to STN. On April 27, 2008, we plan to operate Flights 3 (1:00pm) and 7 (6:30pm) from STN to JFK. Flight 5 from STN to JFK and all flights from JFK to STN on April 27, 2008 are canceled. We will cease operations entirely after April 27, 2008.

This announcement is particularly regrettable since we have achieved so much, including having a term sheet in hand for additional financing. Clearly, even in today’s challenging economic and credit environment, investors believe in Eos. Unfortunately, some issues arose that prevented the parties from moving forward.

We sincerely apologize to those of you who have travel planned in the days ahead. Eos Guests should seek alternative arrangements for travel and should contact their credit card companies or travel agents directly for information about how to obtain a refund for unused tickets.

For our Club 48 members, unfortunately, in the face of this bankruptcy filing, you will no longer be able to redeem your points for rewards. Any value related to your membership will be determined by the court as part of the bankruptcy process.

Ticket holders should call their personal Black Card concierge and request a refund, because even EOS doesn’t think they’ll return to the skies:

Q: Is there a chance that Eos will emerge from bankruptcy and begin operations again?

A: We understand the affinity our Guests have had for Eos and we feel the same way about our Guests. We wish we could have pursued other options, but unfortunately, Eos is going out of business.

You will be missed.

Eos Airlines to Stop Flying by Monday [AP]
To Our Valued Guests [EOS Airline]
(AP photo/ EOS Airlines, HO)

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.