Stewart Industries International in Roswell, an aircraft storage and maintenance corporation, agreed Thursday to repay the city some $217,000 in overdue parking fees and rent by the end of the month.
“This principal will be paid in full by Friday of next week. It’s already been taken care of,” said President Tom Stewart. “You’ll all get paid up. We will work our tail off to keep current.”
The majority of the fund balance accrued after one of its largest customers, American Airlines, filed for bankruptcy and did not pay Stewart Industries. The airline finally emerged from bankruptcy when it merged with U.S. Airways Dec. 9.
The city also instituted new parking fees a few months ago, which added to the costs, said City Manager Larry Fry.
Stewart Industries is a Federal Aviation Administration repair station that services aircraft operations and helps them recover aging Login to read more