Superior Air Charter Secures Court Approval of Bankruptcy Plan

Superior Air Charter LLC won bankruptcy court approval of its reorganization plan, defeating objections from a bankruptcy watchdog and two of the private jet company’s customers.

There’s at least a 51% chance that the company won’t find itself back in bankruptcy, the threshold for determining whether the plan is feasible, Judge Christopher Sontchi of the U.S. Bankruptcy Court for the District of Delaware said Friday during the second day of a two-day hearing.

The plan features a $21 million contribution from JetSuiteX, one of Superior Air’s owners and a contributor of post-bankruptcy debtor-in-possession loans. It will allow the small charter ...