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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 ...
Continental was the first airline to file for bankruptcy with a plan to continue operating as it did continuously starting September 27, 1983. Airline unions fought Continental at every step. On October 1, 1983, the pilots and flight attendants joined the IAM, which was still on strike.
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).
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.
The airline entered Chapter 11 bankruptcy on August 11, 2002, but received a government-guaranteed loan through the Air Transportation Stabilization Board and was able to exit bankruptcy in 2003 [35] after a relatively short period. The airline made major cost reductions during its bankruptcy, but it still encountered higher-than-average per ...
Spirit Airlines. The yellow-hued budget carrier landed in bankruptcy in November because of mounting losses, unaffordable debt, increased competition and the inability to merge with other airlines ...
The firm secured settlements for families of victims in the nation's last major air disaster, the 2009 crash of a Continental Airlines flight in Buffalo that killed 50 people.
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).