Investment firm Wexford Capital says it has received bankruptcy court approval to reorganise and acquire Via Airlines (VC, Orlando Int'l), which it plans to relaunch under a new brand as a "quality regional air service provider".

"We are evaluating initial launch markets and strategic partnerships, including, but not limited to, the Southeast, Midwest and Alaskan markets. Although the Pandemic has decimated and challenged the airline industry today, we believe that a quality regional air services provider will continue to be highly desired and vital for the transportation of people and goods throughout the U.S for the foreseeable future," Via Airlines' new Chief Executive Wayne Heller said.

Heller had worked as the Chief Operations Officer of Republic Airways (YX, Indianapolis Int'l) for more than 15 years before his retirement in 2015.

Via Airlines stopped operations in May 2019, blaming a shortage of pilots. It subsequently filed for voluntary Chapter 11 bankruptcy protection in October after a failed takeover attempt by Ashley Air, an Atlanta-based business charter broker. According to the airline, the potential investor did not fulfill its duties and misrepresented its financial situation, thereby worsening its situation.

Prior to the suspension of its operations, Via Airlines operated three E120s and five E145s on scheduled passenger services out of Austin Bergstrom Int'l and Orlando Sanford, as well as on charter flights. All aircraft, except for one owned E145, were dry-leased from Avmax Aircraft Leasing (four E145s), Jetran (two E120s), and Ameriflight (one E120), according to the ch-aviation fleets ownership module.