Bankruptcy

(Dive Travel Business - December 1, 2011) --  With rising fuel costs, staggering labor costs, and an uncertain economy, American Airlines filed for bankruptcy protection on Tuesday Nov 29, 2011. AMR, the parent company of American, moved to reorganize the struggling operation and reassure passengers that the filing would not affect regular operations.  Booked flights are secure, as American said it would operate its regular schedule and honor tickets and reservations.

American Airlines passengers should not expect any near-term changes, and may even see better fares if American chooses to cut prices to keep planes full and nervous passengers buying tickets for a typically slow January and February sales period. read more »

(Dive Travel Business News - August 5, 2010) -- Mexicana Airlines filed for bankruptcy protection in Mexico and the U.S. earlier this week. The airline reported $1.2 billion in liabilities as of June 30, and $768.5 million in assets. Creditors have seized three of Mexicana's planes. The company owns nine of the 64 aircraft in its fleet. During its restructuring, Mexicana intends to cut staff pay and benefits.

Mexicana suspended ticket sales on Wednesday August 4. The airline said it will "continue to operate its flights as scheduled to protect its passengers."

"Clearly, they’re not going to be operating very long without selling tickets," said analyst Bob Mann of aviation consultancy RW Mann. "The actions they’ve taken are actually quite drastic and I’m not sure they’ve made it any better, only more urgent. Current bookings won’t be enough to keep it flying very long." read more »

(April 14, 2008 - Modern Agent) -–Windjammer Barefoot Cruises, which hasn’t operated a ship since last August, has apparently closed its Miami offices. The troubled company, which let lapse its Florida license to sell travel in November, was unsuccessful in its attempts to renew that registration, said Terence McElroy, spokesman for the Florida Department of Agriculture and Consumer Services. “Because of their financial difficulties, we insisted they post a $50,000 bond, which they didn’t have to do before,” McElroy said. “They were unable or unwilling to post the bond, so we rejected their request to renew the license. At that point, they were no longer licensed to sell travel in Florida.” read more »