PANYNJ From Bahamas, joined Sep 2001, 213 posts, RR: 0 Posted (13 years 7 months 1 week 4 days 14 hours ago) and read 1616 times:
So Which airlines are in financial crisis and what can you guys add to this discussion?
Aerolineas Argentinas The Argentinian flag carrier has yet to conclude a much-needed rescuse plan after years of excessive spending.
Air New Zealand This New Zealand flag carrier is reeling after the Ansett Australia failure and declining passenger traffic.
America West Airlines This trihub airline has announced it is close to announcing Chapter 11 bankrptucy protection in the wake of the September 11 terrorist attacks in Virginia and New York.
Ansett Australia Ansett after being grounded for two weeks will restart limited service between Sydey and Melbourne with A320s.
EL AL The Israeli state-owned airline has been reeling for over a year now as its country has been battling the one year old Intifada.
Gill Airways This small Northern English carrier has stopped flying and will be liquidated soon.
Midway Airlines This North Carolina based low-cost, business airline has also declared chapter 7, and will liquidate shortly. A second failure for the once famed American airline.
National Airlines This Las Vegas airline is still operating in Chapter 11 bankruptcy protection with declining passenger traffic and strong competition at its LAS hub with WN and HP.
Sabena The Belgian flag carrier is also reeling in financial disaster and could close down shortly.
Swissair This carrier's market share has dropped by 80% this year as its strategy to own second and third tier European airlines failed dysmally.
US Airways Still with aproximately a billion dollars in cash, U is in reasonably stable shape, but closure at its DCA base and its failure to merge with UA are hurting the airline's long term prospects.