Page 2

Articles tagged “bankruptcy”

News Blog

Scandinavia’s SAS Files for Bankruptcy Protection in the U.S.

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 a financial restructuring under the supervision of the U.S. court system. SAS expects to complete its court-supervised process in the U.S. in 9-12 months. The airline…

Peden Doma Bhutia | 9 months ago

News Blog

South America’s Largest Airline Latam Cleared to Exit Bankruptcy

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. The Chile-based carrier will exit its restructuring leaner than when it went in after shedding its Argentine subsidiary, but with $8 billion in new capital including $5.4 billion in new financing from…

Edward Russell | 10 months ago

Business Travel

Corp Travel Giant CWT’s Secret to Managing the Labor Shortage

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.

Matthew Parsons | 10 months ago

Corp Travel Giant CWT’s Secret to Managing the Labor Shortage

Airlines

LATAM Airlines Asks for $2.75 Billion in New Loans to Exit Bankruptcy

It sounds crazy, yes. Take on new debt to get yourself out of the hole of bankruptcy. But LATAM execs say they have a plan, and it all makes sense as travel comes roaring back.

Dietrich Knauth, Reuters | 10 months ago

LATAM Airlines Asks for $2.75 Billion in New Loans to Exit Bankruptcy

Rental Cars

New Hertz CEO Will Be Ex-Goldman Sachs Finance Chief Stephen Scherr

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.

Dennis Schaal | 1 year ago

New Hertz CEO Will Be Ex-Goldman Sachs Finance Chief Stephen Scherr

Business Travel

CWT Emerges From Bankruptcy With $100 Million to Invest in Business Travel Tech

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.

Matthew Parsons | 1 year ago

CWT Emerges From Bankruptcy With $100 Million to Invest in Business Travel Tech

Business Travel

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.

Matthew Parsons | 1 year ago

Corporate Travel Giant CWT to File for Chapter 11 Bankruptcy Protection

Coronavirus

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.

Tom Lowry, Skift | 2 years ago

The Airline Failures and Bankruptcies So Far in the Pandemic

Coronavirus

Philippine Airlines Enters Bankruptcy After Finances Crushed by Covid Crisis

Can we expect to see more carriers in Asia follow suit as the pandemic lingers across the region?

Sabahatjahan Contractor, Reuters | 2 years ago

Philippine Airlines Enters Bankruptcy After Finances Crushed by Covid Crisis

Rental Cars

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.

Dennis Schaal, Skift | 2 years ago

Hertz Puts Bankruptcy Behind It With Transformational Plans