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IN-FLIGHT PHONE INTERNATIONAL FILES FOR CHAPTER 11

It’s good to talk, but not in the sky. In-Flight Corp and its wholly- owned In-Flight Phone International Inc subsidiary on Friday filed for Chapter 11 bankruptcy protection, listing assets of $128.7m and liabilities of $257.2m. In-Flight Corp is controlled by IFP Holdings Inc and according to court papers, MCI Communications Corp has the potential to control the debtor through its control of IFP Holdings. InFlight, based in Oakbrook Terrace, lllinois, developed and operates interactive air-to- ground and ground-to-air telephone and entertainment systems for use in commercial aircraft. According to Reuter, among the 20 largest unsecured claims are $285m in senior discount notes due 2002 with Marine Midland Bank and $24.4m subordinated notes held by John Hancock Mutual Life.

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