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
From 2023 (YouTube Version): Legacy of a Titan Robert (Bob) Anderson Hoover was a fighter pilot, test pilot, flight instructor, and air show superstar. More so, Bob Hoover was an i>[...]
Get The Latest in Aviation News NOW on Instagram Are you on Instagram yet? It's been around for a few years, quietly picking up traction mostly thanks to everybody's new obsession >[...]
Aero Linx: B-52H Stratofortress The B-52H Stratofortress is a long-range, heavy bomber that can perform a variety of missions. The bomber is capable of flying at high subsonic spee>[...]
Altimeter Setting The barometric pressure reading used to adjust a pressure altimeter for variations in existing atmospheric pressure or to the standard altimeter setting (29.92).>[...]
"Knowing that we play an active part in bettering people's lives is extremely rewarding. My team and I are very thankful for the opportunity to be here and to help in any way we ca>[...]