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Airlines, like any business, are susceptible to market fluctuations and economic difficulties. The economic structure of the airline industry may contribute to airline bankruptcies as well. One major element in almost every airline bankruptcy is the rejection by the debtor of its current collective bargaining agreements with employees.
Continental Airlines became the first airline to launch a mobile boarding pass service to London's Heathrow. The service allowed customers to receive boarding passes electronically on their mobile phones or PDAs. [76] Continental Airlines left the SkyTeam alliance on October 24, 2009, and joined Star Alliance on October 27, 2009. [77]
A subsidiary of Continental Airlines: Continental Airlines: Texas: CO: COA: CONTINENTAL: Houston Bush: 1937: 2012: Merged into United Airlines: Continental Charters: Florida: Miami: 1945: 1954: Irregular air carrier bankrupt 1954, then bought for $20 after which CAB refused to allow it to operate Continental Connection: Cleveland Hopkins: 2012
The average salary of Continental's pilots after the bankruptcy filing was 30% to 50% lower than before the filing. [72] Senior Management also reduced their salaries to those of the pilots. [73] Continental was the first airline to largely gradually replace a pilot workforce. The pilots eventually voted their union out.
Related: Investor calls out Spirit Airlines CEO's pre-bankruptcy bonus Spirit confirmed that the offer included $400 million in take-back debt and approximately 19% of Frontier shares to pay back ...
The filing followed years of struggles for the Florida-based airline, which is known for its no-frills, low-cost flights. The airline has lost more than $2.5 billion since the beginning of 2020 ...
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 ...
The following is a list of defunct airlines of the United States.However, some of these airlines have ceased operations completely, changed identities and/or FAA certificates and are still operating under a different name (e.g. America West Airlines changed to use the identity of US Airways in 2005 – which itself also changed identity to American Airlines in 2015).