Articles tagged “bankruptcy”

Good morning from Skift. It's Wednesday, July 6 in New York City. Here's what you need to know about the business of travel today.

The list of pandemic airline bankruptcies keeps growing even as travel bounces back faster than anticipated. But hundreds-of-millions-of-dollars in government aid didn't save SAS, which became the latest victim Tuesday.

The pandemic took its latest aviation victim with Scandinavia's SAS filing for Chapter 11 Tuesday. But the bankruptcy is more about extracting cost savings from aircraft lessors than breaking a pilots strike that has grounded much of the airline.

Scandinavian airline SAS has voluntarily filed for chapter 11 bankruptcy protection in the U.S., to try and secure time and flexibility to reorganize its capital structure, reduce costs, and complete…

Short-term rental property manager WanderJaunt ceased operations.

South America's largest airline, Latam Airlines Group, can exit its U.S. Chapter 11 bankruptcy restructuring after a judge approved its reorganization plan Saturday.

Travel management firms face challenges helping their customers deal with widespread travel disruption this year, the inevitable knock-on effect from the wider industry's own struggles with labor shortages. CWT needs to staff up as quickly as possible.

Hertz's next CEO has his work cut out for him in remaking the company. The car rental firm's transformation plan sounds good on paper, but it will be up to Stephen Scherr to turn vision into reality.

Aircraft lessors — which rent airplanes to the world's airlines — are doing relatively well during the pandemic, as airlines seek to shift the financial burdens of owning expensive assets off their balance sheets. But the shift in aircraft ownership didn't come soon enough for Nordic Aviation Capital, which has filed for Chapter 11 bankruptcy protection.

Brazilian airline Azul dropped its plans to acquire bankrupt Latam after Latam filed its reorganization plan with the U.S. court overseeing its restructuring. Had Azul persisted, it would have created the largest airline group in South America.