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Articles tagged “bankruptcies”

Airline Weekly

Philippine Airlines to End New York, Toronto Flights Under Restructuring Plan

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.

3 years ago
Philippine Airlines to End New York, Toronto Flights Under Restructuring Plan

Airlines

Norwegian Air Sees Spike in July Travelers Amidst Uncertain Prospects

The travel recovery is completely dependent on traveler confidence, vaccine availability and easing of travel restrictions. Will all this be enough to turn things around for Norwegian or will the pandemic and competition prove to be too much?

Gwladys Fouche, Reuters | 3 years ago

Norwegian Air Sees Spike in July Travelers Amidst Uncertain Prospects

Tourism

Greece’s Banks Are Counting On Tourists This Summer For Bad Loan Relief

Greek financial institutions are still weighed under the stress of the 2009 financial crisis. The threat to tourism businesses here is greater than most other destinations.

George Georgiopoulos and Lefteris Papadimas, Reuters | 3 years ago

Greece’s Banks Are Counting On Tourists This Summer For Bad Loan Relief

Ground Transport

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.

Dennis Schaal, Skift | 3 years ago

Hertz Looks to Travel Investor Certares to Lead It Out of Bankruptcy in $4.2 Billion Reorganization

Coronavirus

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.

Dennis Schaal, Skift | 4 years ago

Hotel Mortgage Delinquencies Reached Record Levels in July

Airlines

Virgin Atlantic Files Chapter 15 Petition in U.S. to Assist Its Rescue in the UK

The real restructuring happened three weeks ago, as Airline Weekly's analysts have noted. This move is just to facilitate that.

Bhargav Acharya, David Shepardson, and Jonathan Stempel, Reuters | 4 years ago

Virgin Atlantic Files Chapter 15 Petition in U.S. to Assist Its Rescue in the UK

Online Travel

Travelport Strikes Deal With Creditors That For Now Could Save It From Bankruptcy

The existence of the deal, previously unreported, should reassure anyone about the travel tech company's near-term stability.

Sean O'Neill, Skift | 4 years ago

Travelport Strikes Deal With Creditors That For Now Could Save It From Bankruptcy

Airlines

Another European Airline Bites the Dust

Germania certainly won't be the last European airline to go under this year. 2019 looks like being as challenging as 2018 – even with fuel at a much more favorable price.

Patrick Whyte, Skift | 5 years ago

Another European Airline Bites the Dust

Online Travel

HotelQuickly Disaster Raises Questions on How Travel Search Giants Vet Advertisers

It's a matter of probability that some companies will face cash crunches. It appears HotelQuickly has. But global travel search companies need to detect problems sooner. They must quickly put a pause on referring consumers to troubled companies before too many victims pile up.

Sean O'Neill, Skift | 5 years ago

HotelQuickly Disaster Raises Questions on How Travel Search Giants Vet Advertisers