US airlines Delta, Northwest file for bankruptcy
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Thursday, September 15, 2005
Delta Airlines and Northwest Airlines, the third and fourth-largest US airlines, filed for bankruptcy protection from creditors on Wednesday. Together with United and US Airways, four of the seven biggest US carriers are now operating under bankruptcy protection, representing 51% of US passenger flight capacity.
The filing occurred due to rising fuel prices, high labor expenses and competition from low-fare carriers.
Delta and Northwest both said that bankruptcy protection would cause no changes for passengers in their flight schedules and frequent-flyer schemes. However, analysts say that cuts in some flights can be expected in the future.
Sources
- Jui Chakravorty, Christian Plumb "Delta, Northwest begin long road through bankruptcy". Reuters, September 15, 2005
- Lynne Marek "Delta Air, Northwest Bankruptcies Deepen Airline Industry Woes". Bloomberg.com, September 15, 2005
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