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
|
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