BT handbook: The Book on Airline Bankruptcy Doesn't Start or End With Chapter 11
Arthur Frommer's Budget Travel, October, 2004 by Carol Sottili
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With major airlines making headlines by losing billions of dollars and entering bankruptcy protection, passengers are justified in being a little concerned about their next flight.
Filing for bankruptcy doesn't mean a carrier is about to shut its doors. Heck, an airline could survive the process without inconveniencing a single passenger. But invoking Chapter 11 is not a good sign. In the early 1990s, America West, Continental, Pan Am, Midway, and TWA all filed for bankruptcy; America West and Continental are the only two still around. And while TWA was sold with little disruption to travelers, Midway went belly-up overnight, stranding customers with few options. No one knows if a major carrier will cease operations anytime soon, but at the very least a period of consolidation among airlines seems imminent.
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Be aware before you buy Airlines enter Chapter 11 to reorganize debt-and to give them leverage when it ...
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