Although contrary to the claims of senior management, it has been reported that Evergreen International Airlines will cease operations on November 30, with the loss of 131 employees. The news was confirmed to employees in a memo from Monique Gregory, Evergreen’s human resources manager: “The loss of our company is very unfortunate. However, we appreciate your continued excellent service during this ending phase.”
The airline founder Delford Smith, however has stated that the rumours are false and Evergreen is in talks with “significant constituencies” in an effort to continue.
Staggering debt could be the main culprit for Evergreen’s troubles, airline analysts said, judging by the state of the industry and payment deadlines missed by the company. High fuel prices and excess capacity also hinder the global freighter business.