Executive Airlines
Executive Airlines, Inc. was a Puerto Rican regional airline headquartered at Luis Muñoz Marín International Airport in Carolina, Puerto Rico, the main airport for the United States territory, near the capitol of San Juan. The airline was a wholly owned subsidiary of the AMR Corporation and it was paid by fellow AMR member American Airlines to staff, operate and maintain aircraft used on American Eagle flights that were scheduled, marketed and sold by American Airlines. Executive Airlines operated an extensive inter-island network in the Caribbean and the Bahamas from its hub in San Juan. The airline was  founded as Executive Air Charter in 1979, it joined the American Eagle system on September 15, 1986 as an independent airline, the company was purchased by AMR on December 7, 1989. In late 2007, AMR attempted to spin-off Executive Airlines, but the effort was unsuccessful. AMR eventually announced that it would close Executive Airlines on March 31, 2013. The Executive Airlines name was also used by a U.S.-based commuter air carrier which operated scheduled passenger flights during the late 1960s and early 1970s in the northeast U.S. and Florida. History. The airline was founded by Puerto Rican businessman Joaquín  Bolivar as Executive Air Charter in 1979, and on September 15, 1986 joined the American Eagle system as an independent airline. The airline was purchased by the AMR Corporation, which at the time was the holding company of American Airlines and American Eagle Airlines. In late 2007, it was announced AMR planned to spin-off American Eagle Airlines and Executive Airlines. In 2008, AMR said the spin-off plans had been put on hold until the airline industry stabilized after the worldwide financial crisis. In February 2008, Executive Airlines fleet of 12 ATR 72 turboprop aircraft were used to generate  cash for the struggling AMR in a leaseback transaction. On November 29, 2011, AMR Corporation filed for a Chapter 11 reorganization bankruptcy. Executive was forced to return its aircraft to the leasing company starting in 2012. As part of the changes during the AMR bankruptcy and merger with US Airways to form the American Airlines Group, the decision was made to close Executive Airlines on March 31, 2013. The airline's President and CEO, Pedro Fabregas would remain with the company and would become the President and CEO of American Eagle Airlines, which would be renamed Envoy Air. Former destinations . "Further information : American Eagle (airline brand) - (MQ) American Eagle Airlines / Envoy Destinations Fleet. The Executive Air fleet consisted of the following aircraft (at February 2008): Prior to transitioning to an all ATR 72 fleet, Executive Airlines operated ATR 42, CASA 212 and Short 360 turboprop aircraft.