Business
Airlines need up to another $80 billion to survive, the head of the industry's trade association told a French daily on Friday, as many countries tighten restrictions to confront another wave of coronavirus infections.
Nov 20, 2020
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Business
Fighting for survival, low-cost Norwegian Air Shuttle filed for bankruptcy protection in Ireland on Wednesday for two of its main subsidiaries in a bid to shield itself from creditors long enough to find a solution for a ...
Nov 18, 2020
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Business
Virgin Australia's creditors agreed Friday to sell the airline to Boston-based Bain Capital in a deal that will see the carrier cut 3,000 jobs and end many of its international flights.
Sep 4, 2020
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Business
Virgin Atlantic has applied for bankruptcy protection in the United States, court filings show, as the British airline—which has not flown since April because of coronavirus—seeks to tie up a rescue deal in the UK.
Aug 5, 2020
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Business
Most airlines are considering downsizing their staff over the next 12 months due to the coronavirus crisis, the International Air Transport Association said Wednesday, citing an internal survey.
Aug 5, 2020
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Business
Coronavirus-hit car rental company Hertz was granted permission Friday to sell $1 billion in shares, an extraordinary move after it declared bankruptcy in the United States and Canada.
Jun 13, 2020
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Business
Norwegian Air said Monday four of its subsidiaries in Denmark and Sweden have filed for bankruptcy, affecting some 4,700 pilots and crew, as a result of the coronavirus pandemic.
Apr 20, 2020
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Business
McClatchy, the publisher of the Miami Herald, The Kansas City Star and dozens of other newspapers, has filed for bankruptcy protection as it struggles to pay off debt while revenue shrinks because more readers and advertisers ...
Feb 13, 2020
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Business
Investors in a cryptocurrency exchange who lost access to tens of millions of dollars when the website's Canadian founder died abruptly, are demanding his body be exhumed to rule out any chance that he faked his own death.
Dec 16, 2019
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Business
France's second-largest airline Aigle Azur, which went into receivership this week, plans to cancel all flights starting Friday night as it seeks a takeover bid to save the company, according to an internal document seen ...
Sep 5, 2019
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Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the insolvent individual or organization).
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