Airlines Bankruptcy Woes
As predicted Delta Air Lines and Northwest Airlines, the third and fourth biggest carriers in the United States, both filed Chapter 11 Bankruptcy Protection on Wednesday 14th September 2005.
Chapter 11 protects a company whilst it undergoes a restructuring of debt that must be approved by a court, and helps companies to survive. Procedures on the ground continue to function - flights will continue and tickets will be honoured.
Below is a list bankruptcy filings by airlines in the United States ranked by assets.
Delta Air Lines 9/14/05 $21,561,000,000
Northwest Airlines 9/14/05 $14,352,000,000
US Airways, Inc.* 9/12/04 $8,600,458,000
* Assets reported in court filing.
Posted on 15 September 2005
