North American Airlines (New York JFK) and sister carrier World Airways (1948) (Atlanta Hartsfield Jackson) joined parent Global Aviation Holdings as fully owned subsidiaries in filing for Chapter 11 bankruptcy protection earlier on November 12, 2013. Global Aviation Holdings said both carriers intend to continue operations and that it hopes to be able to reorganize and lower costs during its operations under Chapter 11. In a letter to its customers, CEO John Graber mentioned the "continued downturn in commercial cargo markets coupled with the military's recent, unexpected decision to immediately curtail its cargo expansion flying" as the key reasons for its financial difficulties. North American currently operates five B767-300(ER)s while World operates two B747-400(F)s, three MD-11(F) freighters as well as three passenger MD-11s. Global Aviation Holdings had last emerged from Chapter 11 on March 13 of this year.