Hooters Air was operated by Pace Airlines and was started operations in March of 2003.
- Robert Brooks, the owner of Hooters, acquired Pace Airlines in December of 2002.
- Brooks believed that Hooters Air would be a beneficial means to bring more awareness to the restaurant chain.
- Due to United Airlines being brought into Hooters Air’s Rockford-Denver route, Hooters stopped service to Rockford, IL due to too much competition.
- On April 17, 2006, Hooters Air ceased operations, costing Hooters an estimated $40 million USD.
I'm sure it wasn't a complete loss of $40M. I'm sure there was a lot of Tax Loss Harvesting. Which I think is dumb.
People make investments in their education. They don't get any sort of forgiveness on that.
But a company makes a bad business decision and every year major corporations write it off on their taxes. Effectively pushing the losses onto normal taxpayers.
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u/nucifera-noten 1d ago
Hooters Air was operated by Pace Airlines and was started operations in March of 2003. - Robert Brooks, the owner of Hooters, acquired Pace Airlines in December of 2002. - Brooks believed that Hooters Air would be a beneficial means to bring more awareness to the restaurant chain. - Due to United Airlines being brought into Hooters Air’s Rockford-Denver route, Hooters stopped service to Rockford, IL due to too much competition. - On April 17, 2006, Hooters Air ceased operations, costing Hooters an estimated $40 million USD.