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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 ...
Airline bankruptcies are covered by: ... Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
NEW YORK (AP) — Spirit Airlines, the largest budget carrier in the U.S., filed for Chapter 11 bankruptcy protection Monday. The airline said customers should not see any disruption to their ...
Spirit Airlines officially filed for bankruptcy protection today Monday after the pioneer of no-frills travel in the U.S. struggled with a long run of quarterly losses, failed merger attempts and ...
The airline, known for its bargain fares, said it expects to emerge from bankruptcy in the first quarter of 2025, "even better positioned to deliver the best value in the sky."
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 ...
Aloha Airlines - shut down in a chapter 7 bankruptcy filing. American Trans Air - acquired by the private equity firm MatlinPatterson's Global Aero Logistics and shut down in chapter 7 bankruptcy filing. Evergreen International Airlines; World Airways - acquired by the same group as ATA and also shut down by the same private equity firm
A Chapter 11 bankruptcy allows companies to stay open and try to re-organize their debts. So, for Spirit, its bankruptcy filing could give it the breathing space it needs to transform its business.