Air 21 in Talks With Potential Investors

Air 21, the Fresno-based commuter airline that filed for Chapter 11 bankruptcy on Monday after USAir Group attempted to repossess its three leased planes, is in talks with three potential investors, the company’s lone director said. Joe Levy, chairman of the Gottschalks department store chain, said he expects to have a deal signed within two weeks, although some analysts are skeptical of the tiny airline’s chances. Levy also acknowledged analysts’ criticisms that the company grew too fast with too little capital. The company’s bankruptcy filing did not list assets or liabilities, but among the 300 creditors, USAir is the largest.