Articles tagged “bankruptcy”

A milestone in the agency's transformation saga, which could see its new owners opt to acquire other technology players, and target mid-size customers, as part of its post-pandemic rehabilitation.

Bankrupt Philippine Airlines will end service to New York and Toronto as part of a rejigging of its route map under a restructuring plan it filed with a U.S. bankruptcy court on Thursday.

The travel agency joins Hertz, Worldstrides and several airlines in taking this particular route to weather the financial storm caused by the pandemic.

Given air travel's standstill in 2020, and the impact of new Delta variant scares, you might think this list would be longer. Still, seeing the airline casualties together like this is pretty staggering.

Hertz's new ownership has grand plans to remake the car rental firm. Over the next few years, you'll find out if that really happened depending on your experience at an airport car rental counter near you.

Suddenly Hertz, the beleaguered car-rental firm forced into bankruptcy, is being wooed like it's the last case of Budweiser on a deserted island. Investors see opportunity in an emerging new Hertz.

Despite the inroads ridesharing companies, such as Uber and Lyft, have made against the car rental giants, Hertz's re-emergence from bankruptcy is now triggering a bidding war. Ridesharing and car rentals often have different use cases, but it's never too late for legacy players to mimic, partner, and otherwise adapt.

It will certainly be a challenge to transform Hertz's business. However, the car rental company is not only getting a financial lifeline, but also an assist from private equity firm Certares' wide-ranging travel rollup strategy. This will be a long-term play.

The European and Chinese backers of travel agency WorldStrides seem to think there'll be a rebound for international student travel. Do they know something we don't?

Travelport's backers have won their feud with lenders. Now Siris Capital and Elliott Management's asset management arm need to defeat payment firm Wex in court over a disputed eNett sale.