Getting your player ready...
NEW YORK — A bankruptcy judge ruled Thursday that General Motors Corp. can terminate its aircraft leases as part of its ongoing restructuring.
U.S. Judge Robert Gerber approved GM’s motion at a brief hearing, the automaker’s first since its initial court appearance on June 1, the day it filed for Chapter 11 bankruptcy protection.
Robert Weiss, an attorney for GM, said the automaker currently leases seven aircraft, as well as hangar space at Detroit Metropolitan Wayne County Airport.
There were no objections to the motion.
