IN BRIEF

ATLANTA

Eos makes last flight, files for bankruptcy

When Eos Airlines Inc. launched its first flights in 2005, the startup carrier named for a Greek goddess came with enthusiastic business travelers looking for more space who didn't mind hefty fares for premium service across the Atlantic.

The high-flying luxuries came to an end Sunday as Purchase, N.Y.-based Eos ceased operations after filing for bankruptcy protection, the latest casualty of a credit crunch and a money-losing airline industry that has been hit hard by high fuel prices.

Eos operated its final flights Sunday from London's Stansted Airport to New York's John F. Kennedy International Airport, and it then ceased operations. It plans to immediately eliminate the jobs of most of its 450 employees.

The bankruptcy filing in New York listed $70.2 million in assets and $34.9 million in debts. Servisair LLC, which provides ground services at airports, was listed as the holder of the largest unsecured claim against Eos -- $744,000. Atlanta-based Delta holds the fourth-largest unsecured claim at $363,692.

Golden Gate Capital is listed as the company's largest shareholder, holding a 47 percent stake. Rizon United Corp. holds a 24 percent stake, court records show.

The company said in a note to passengers that they should seek other arrangements for travel and should contact their credit card companies or travel agents for information about how to obtain a refund for unused tickets. It said its frequent-flier program would no longer redeem points, adding that any value related to membership will be determined by the bankruptcy court.

LOS ANGELES

Hearings to look at BoA-Countrywide deal

Consumer advocates nervous about Bank of America Corp.'s proposed takeover of troubled mortgage lender Countrywide Financial Corp. are pressuring the bank to provide assurances that Countrywide borrowers facing foreclosure won't lose their homes.

The campaign is likely to intensify today as members of the Federal Reserve Board begin two days of public hearings on the proposed $4.1 billion stock deal.

The acquisition, which is expected to close in the third quarter, would make Charlotte, N.C.-based Bank of America the nation's largest mortgage lender in addition to the nation's largest consumer bank.

In Los Angeles, four members of the Federal Reserve Board are scheduled to hear from officials with Bank of America and scores of speakers from state government, consumer and business groups, and labor unions, among others.

Consumer advocates claim Countrywide has not been responsive enough to homeowners having trouble making their mortgage payments and say Bank of America needs to be more aggressive in helping borrowers.