Moderators: jsumali2, richierich, ua900, PanAm_DC10, hOMSaR

 
FlyingElvii
Topic Author
Posts: 1818
Joined: Wed Dec 27, 2017 10:53 pm

Business Travel Firm CWT Plans Bankruptcy Filing to Cut Debt

Thu Sep 30, 2021 11:03 pm

WSJ is reporting that CWT is filing a pre-packaged bankruptcy in the next couple of days. $900 Million in debt, got $250:million last fall to restructure, plus PPP monies.

This one of the last truly big corporate travel companies left, they book A LOT of travel of all kinds, from airlines/hotels/cars to conference arranging and private jets. They also run the SATO offices in US Gov buildings everywhere. Not sure what the overall impact will be, but it could be significant, short term.

(Paywall warning)
https://www.wsj.com/articles/business-t ... 1633034825
Last edited by SQ22 on Sat Oct 02, 2021 5:11 am, edited 1 time in total.
Reason: Title updated
 
User avatar
VDemerest
Posts: 12
Joined: Sat Jun 05, 2021 11:21 pm

Re: Carlson Wagonlit Filing For Bankruptcy - Includes SATO (US Gov) Travel

Fri Oct 01, 2021 12:03 am

FlyingElvii wrote:
WSJ is reporting that CWT is filing a pre-packaged bankruptcy in the next couple of days.


The published Wall Street Journal (US) article *does not* state this. The article states, in part (except from article headline): "CWT, which has seen a drop-off in business travel due to the Covid-19 pandemic, could file as soon as the end of October, sources say". The article is purely speculative at this point, citing unnamed sources....
 
FlyingElvii
Topic Author
Posts: 1818
Joined: Wed Dec 27, 2017 10:53 pm

Re: Carlson Wagonlit Filing For Bankruptcy - Includes SATO (US Gov) Travel

Fri Oct 01, 2021 12:22 am

VDemerest wrote:
FlyingElvii wrote:
WSJ is reporting that CWT is filing a pre-packaged bankruptcy in the next couple of days.


The published Wall Street Journal (US) article *does not* state this. The article states, in part (except from article headline): "CWT, which has seen a drop-off in business travel due to the Covid-19 pandemic, could file as soon as the end of October, sources say". The article is purely speculative at this point, citing unnamed sources....

Bloomberg, 3 hrs ago.

https://news.bloomberglaw.com/bankruptc ... o-cut-debt
 
Scarebus34
Posts: 763
Joined: Tue Feb 12, 2019 10:54 pm

Re: Carlson Wagonlit Filing For Bankruptcy - Includes SATO (US Gov) Travel

Fri Oct 01, 2021 12:54 am

They plan to continue to operate normally. Bankruptcy is likely being used to shed debt, not shut down. Probably very little impact short term.
 
User avatar
Aesma
Posts: 14860
Joined: Sat Nov 14, 2009 6:14 am

Re: Carlson Wagonlit Filing For Bankruptcy - Includes SATO (US Gov) Travel

Sat Oct 02, 2021 3:15 am

My French company uses them, I don't know if it's a separate entity or not.

Aside from plane rides, you can also book trains tickets.

Popular Searches On Airliners.net

Top Photos of Last:   24 Hours  •  48 Hours  •  7 Days  •  30 Days  •  180 Days  •  365 Days  •  All Time

Military Aircraft Every type from fighters to helicopters from air forces around the globe

Classic Airliners Props and jets from the good old days

Flight Decks Views from inside the cockpit

Aircraft Cabins Passenger cabin shots showing seat arrangements as well as cargo aircraft interior

Cargo Aircraft Pictures of great freighter aircraft

Government Aircraft Aircraft flying government officials

Helicopters Our large helicopter section. Both military and civil versions

Blimps / Airships Everything from the Goodyear blimp to the Zeppelin

Night Photos Beautiful shots taken while the sun is below the horizon

Accidents Accident, incident and crash related photos

Air to Air Photos taken by airborne photographers of airborne aircraft

Special Paint Schemes Aircraft painted in beautiful and original liveries

Airport Overviews Airport overviews from the air or ground

Tails and Winglets Tail and Winglet closeups with beautiful airline logos