Financial troubles ground NYC helicopter shuttle

Scheduled helicopter service between two heliports in Manhattan and two major airports that serve New York City abruptly shut down on Friday.

U.S. Helicopter, which started up 3 ½ years ago, provided the first shuttle service since the 1980s from Manhattan to a commercial airport.

It was charging as much as $159 each way for an eight-minute trip between one of the heliports in Manhattan and Kennedy International or Newark Liberty International Airports

The company had been struggling financially and borrowing frequently at high rates of interest to cover its costs.

A senior vice president of the company told the NY Times that the company plans to be up and running again by late November.