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One major element in almost every airline bankruptcy is the rejection by the debtor of its current collective bargaining agreements with employees. After satisfying certain requirements, bankruptcy law permits courts to approve the rejection of labor contracts by the debtor-employer. With this tool, airline managers reduce costs.
SEC says former Express CEO secretly took advantage of $1 million in company perks, including a private jet, as the company was sliding into bankruptcy Sasha Rogelberg December 18, 2024 at 10:49 AM
JetSuiteX, Inc. (commonly known as JSX) is an American air carrier in the United States and Mexico that describes itself as a "hop-on jet service" [2] that operates point-to-point flights between and within Arizona, California, Colorado, Florida, Nevada, New Mexico, New York, and Texas in the United States and Baja California Sur in Mexico.
Superior Air Charter (previously JetSuite) is a private jet charter company [1] based out of Dallas, Texas. The company was founded in 2006 by Alex Wilcox. In 2008, the company was re-branded from Magnum Jet after a push from financial backers. [2] [3] Wilcox is CEO of the company. [4]
Spirit Airlines said Monday it has filed for Chapter 11 bankruptcy protection after struggling with losses, growing debt and a failed merger during the post-pandemic travel lull.
A Chapter 7 bankruptcy (or BK, as we call it) would eliminate most or all of their debts and they would get a clean slate. No litigation client ever wrote me a thank-you note, but plenty of my ...
2009. Eclipse Aviation, the Albuquerque, New Mexico-based manufacturer of the Eclipse 500 very light jet and the company that was developing the Eclipse 400 single-engine jet, was founded in 1998 by former tech industry executive Vern Raburn and entered bankruptcy on 25 November 2008.
Budget carrier Spirit Airlines filed for bankruptcy this week, stoking concern about how the financial peril of a low-fare option could impact prices across the industry. The Florida-based company ...