Sat, Sep 17, 2005
Largest in 2005
With total assets of $21,801,000,000
(as reported on its latest Annual Report on Form 10-K) Delta Air
Lines, Inc. (DAL) became the largest corporation to file for
bankruptcy in 2005 and the ninth largest public company bankruptcy
in history, according to www.BankruptcyData.com.
Delta's September 14th bankruptcy filing also represents the second
largest airline filing of all time.
To date, the largest airline to file for Chapter 11 is UAL Corp
who listed $25,197,000,000 in assets at the time of their December
9, 2002 filing.
Delta's filing, along with yesterday's Northwest Airlines
Corporation Chapter 11 filing, means that four major airline
carriers are now under bankruptcy protection. Those four airlines,
US Airways Group, Inc. (UAIRQ), Delta (DAL), Northwest (NWAC), and
UAL Corp. (UALAQ), listed a total of $63,696,000,000 in assets upon
filing. To date, the total assets of the 61 publicly traded
companies filing for bankruptcy in 2005, including Delta, now sits
at $53,492,000,000.
Largest Airline Bankruptcies 1980 - 2005
|
Company
|
Ch11 Date
|
Assets
|
UAL Corp. (UALAQ) |
09-Dec-02 |
$25,197,000,000 |
Delta Air Lines, Inc. (DAL) |
14-Sep-05 |
$21,801,000,000 |
Northwest Airlines Corporation (NWAC) |
14-Sep-05 |
$14,042,000,000
|
US Airways Group, Inc. (UAIRQ) |
12-Sep-04 |
$8,349,000,000
|
US Airways Group, Inc. (UAIRQ) |
11-Aug-02 |
$7,941,000,000 |
Continental Airlines Holdings, Inc. (CAL) |
03-Dec-90 |
$7,656,140,000 |
Eastern Air Lines, Inc. (Liquidated) |
09-Mar-89 |
$4,037,000,000
|
Trans World Airlines, Inc. (TWAIQ) |
31-Jan-92 |
$2,864,530,000
|
More News
Inversion to Launch Reentry Vehicle Demonstrator Aboard SpaceX Falcon 9 This fall, the aerospace startup Inversion is set to launch its Ray reentry demonstrator capsule aboard Spac>[...]
"We are excited to accelerate the adoption of electric aviation technology and further our journey towards a sustainable future. The agreement with magniX underscores our commitmen>[...]
"The journey to this achievement started nearly a decade ago when a freshly commissioned Gentry, driven by a fascination with new technologies and a desire to contribute significan>[...]
Aero Linx: OX5 Aviation Pioneers Each year a national reunion of OX5 Aviation Pioneers is hosted by one of the Wings in the organization. The reunions attract much attention as man>[...]
"Our driven and innovative team of military and civilian Airmen delivers combat power daily, ensuring our nation is ready today and tomorrow." Source: General Duke Richardson, AFMC>[...]