present a bankruptcy court judge with a financing plan or it will be forced to liquidate its assets. Kiwi suspended all operations last night after it failed to win financial backing from several potential investors, including Victor Kiam, chairman of Remington Products, a closely held shaver company.

If it survives, it's doubtful that Kiwi will operate the same way it did before it filed for Chapter 11 bankruptcy protection last month, said Rob Kulat, a Kiwi spokesman.

"If Kiwi ends up with new owners, they can do whatever they want with it -- take it out to the West Coast, make it a charter airline or whatever,'' Kulat said.

Kiwi, a low-fare airline started in 1993 by former pilots of Pan American World Airways and Eastern Air Lines, stopped service to Florida, Las Vegas and Bermuda the day it filed for bankruptcy.