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With this tool, airline managers reduce costs. Terms of an employee contract negotiated over years can be eliminated in months through Chapter 11. Terms of the Railway Labor Act, amended in 1936 to cover airlines, prevent most labor union work actions before, during and after an airline bankruptcy. Continental Airlines declared bankruptcy ...
Spirit Airlines filed for bankruptcy protection Monday morning as holiday travel season approaches. Thanksgiving weekend is expected to see nearly 80 million travelers , with almost 6 million ...
Spirit Airlines filed for bankruptcy protection Monday, as mounting losses, unaffordable debt, increased competition for bargain-seeking airline passengers and the inability to merge with other ...
While Spirit Airlines has filed Chapter 11 bankruptcy, the company assures customers that all tickets already booked will be valid and flights will operate as scheduled.
Generally, airline loyalty points or miles are not transferrable, but frequent flyer programs are valuable assets that often survive bankruptcies, said Robert W. Mann Jr., a former airline ...
The company's share price fell from $3.22 to $1.15 last week after the Wall Street Journal reported it was preparing to file for bankruptcy protection, closing on $1.07 on Friday.
Spirit Airlines filed for Chapter 11 bankruptcy protection on Monday. The company told customers they could continue to fly with the airline. Spirit's letter to customers explains the process.
"In the short term, it will be just smaller," Robert W. Mann Jr., a former airline executive officer and current president of R. W. Mann and Co., an independent airline consultancy, told USA Today.