Bankruptcy/Chapter 11 / Post-Bankruptcy Stocks

Aviation Industry Bankruptcies & Their Outcomes

BankruptcyData.com compiled this list (which is current as of 12/2/13) of significant aviation industry bankruptcy filing and their respective outcomes. Parenthetical notes indicating a year are provided for the numerous airliners that have made more than one Chapter 11 filing. It should be noted that New Generation Research defines public companies as those that actively publicly trade stock or bonds on U.S. markets. In addition, total pre-petition asset figures are extracted from each company’s most recent Annual Report filed with the SEC.

 

Aviation Industry Bankruptcies & Their Outcomes

Company

Bankruptcy Date

Pre-petition Assets in $mils

Outcome

UAL Corporation

12/09/02

$25,197

Emerged - Public (UAUA)

AMR Corporation

11/29/11

25,088

Emerging - Public

Delta Air Lines, Inc.

09/14/05

21,801

Emerged - Public (DAL)

Northwest Airlines Corporation

09/14/05

14,042

Emerged - Public (NWA)

US Airways Group, Inc. (2004)

09/12/04

8,349

Emerged - Public (LCC)

US Airways Group, Inc. (2002)

08/11/02

8,025

Emerged - Public (UAIR)

Continental Airlines Holdings, Inc.

12/03/90

7,656

Emerged - Public (CAL)

Eastern Air Lines, Inc.

03/09/89

4,037

Liquidated

Trans World Airlines, Inc. (1992)

01/31/92

2,865

Emerged - Public (TWA)

Hawker Beechcraft Acquisition Co., LLC

05/03/12

2,778

Emerged - Private

Trans World Airlines, Inc. (1995)

06/30/95

2,495

Emerged - Public (TWA)

Pan Am Corp. (1991)

01/08/91

2,441

Liquidating Trustee

Trans World Airlines, Inc. (2001)

01/10/01

2,137

Liquidated

Atlas Air Worldwide Holdings, Inc.

01/30/04

2,085

Emerged - Public (AAWW)

Pinnacle Airlines Corp.

04/01/12

1,499

Acquired by Delta Air Lines

America West Airlines, Inc.

06/27/91

1,165

Emerged - Public (Unknown)

Frontier Airlines Holdings, Inc.

04/10/08

1,043

Acquired by Republic Airways Holdings

Braniff International Corp. (1982)

05/13/82

1,008

Emerged - Public (BAIR)

Kitty Hawk, Inc. (2000)

05/01/00

983

Emerged - Public (KHK)

Mesa Air Group, Inc.

01/05/10

959

Emerged - Public

ATA Holdings Corp. (2004)

10/26/04

870

Emerged - Private

Global Aviation Holdings Inc. (2012)

02/05/12

690

Emerged - Public

FLYi, Inc.

11/07/05

678

Liquidated

Kellstrom Industries, Inc.

02/20/02

573

Liquidated

Global Aviation Holdings Inc. (2013)

11/12/13

500

Active

Midway Airlines, Inc. (1991)

03/25/91

468

Converted to Ch. 7

Tower Air, Inc.

02/29/00

351

Converted to Ch. 7

Midway Airlines Corp. (2001)

08/13/01

349

Converted to Ch. 7

Hawaiian Airlines, Inc. (2003)

03/21/03

305

Emerged - Public (HA)

Fine Air Services Corp.

09/27/00

303

Purchased by Laurent & Fine

Stellex Technologies, Inc.

09/12/00

273

Emerged - Private

ATA Airlines, Inc. (2008)

04/02/08

250

Acquired by Southwest Airlines

Braniff, Inc. (1989)

09/28/89

238

Liquidated (Sold Operating Certificate)

Aloha Airlines, Inc. (2008)

03/20/08

216

Converted to Ch. 7

Southern Air Holdings, Inc.

09/28/12

207

Emerged - Private

AVTEAM, Inc.

03/26/01

150

Liquidated

Gemini Air Cargo, Inc. (2008)

06/18/08

132

Converted to Ch. 7

Western Pacific Airlines, Inc.

10/05/97

120

Converted to Ch. 7

American Aircarriers Support, Inc.

10/31/00

114

Case Dismissed

Mesaba Aviation, Inc.

10/13/05

109

Acquired by Northwest Airlines

 

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