Corporate Travel Giant CWT to File for Chapter 11 Bankruptcy Protection
The travel agency joins Hertz, Worldstrides and several airlines in taking this particular route to weather the financial storm caused by the pandemic.
Articles tagged “bankruptcy”
The Airline Failures and Bankruptcies So Far in 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 Puts Bankruptcy Behind It With Transformational Plans
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.
Hertz Selects Centerbridge to Lead Its Reorganization From Bankruptcy
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.
Travel Investor Certares’ Plan to Be Kingmaker in Hertz Reorganization Hits a Snag
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.
Hertz Looks to Travel Investor Certares to Lead It Out of Bankruptcy in $4.2 Billion Reorganization
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.
This Company Is Travel’s First to Emerge From a Major Pandemic Bankruptcy
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 Dodges Bankruptcy Thanks to $500 Million Pact With Lenders
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.
Intelsat Makes $400 Million Bid for Gogo’s In-Flight Wi-Fi Service From Bankruptcy
New owner Intelsat will need to invest in Gogo's internet services. Airline customers like Delta are impatient with Gogo's capacity to meet their needs.
Hotel Mortgage Delinquencies Reached Record Levels in July
Bad hotel loans in the United States in July reached record levels, 23.4 percent, but it could get worse if the coronavirus pandemic and its laissez faire enablers persist.