Northeastern filed for Chapter 11 reorganization.
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The Fort Lauderdale, Fla.-based airline continued scaled-down operations with three of its jets after filing for reorganization under the U.S. Bankruptcy Code. The cutback in service, to seven cities from 12, left hundreds of passengers stranded. Others who booked flights before the filing were stuck with tickets that Northeastern International Airways refused to accept. The 3-year-old company said it had about $28 million in assets and about $48 million in liabilities.
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