Eos Airlines said on Friday that the US Bankruptcy Court in the Southern District of New York has approved a process for the auction and sale of Eos and its assets.
Eos, a business class New York-to-London carrier, filed for Chapter 11 bankruptcy on April 26, the latest airline to fail amid record fuel prices and a weakening US economy.
Eos said it hopes to sell its business to a party interested in restarting the airline as a going concern or to sell all of Eos' most valuable assets to one or more buyers.
The deadline for bids on any of the assets is May 28, with an auction on June 9, 2008.
