Business Services Industry
U.S. Airways' Bankruptcy Filing Unlikely to Ground Its Frequent-Flier Program.
Knight Ridder/Tribune Business News, August, 2002
By Tom Belden, The Philadelphia Inquirer Knight Ridder/Tribune Business News
Aug. 13--As long as U.S. Airways continues flying, its Chapter 11 bankruptcy filing is unlikely to ground its frequent-flier awards program, the leading expert on airline frequent-flier programs said.
"As long as the company is operating in Chapter 11, the history says the airlines continue to operate their frequent-flier program," said Randy Petersen, publisher of InsideFlyer magazine and longtime observer of the business.
But if the carrier shuts down, "there's absolutely no hope. You're an unsecured creditor."
In most bankruptcies of major U.S. airlines, customers' frequent flier miles have retained some or all value, Petersen said. Continental...
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