National Airlines to come out of Chapter 11
National Airlines has reached a deal on a $112m financing package after lengthy discussions with key creditors and expects to emerge from bankruptcy protection in October.
The carrier has been flying under Chapter 11 since December 2000.
National has also reduced its annual operating expenses by about £50m through renegotiated aircraft lease rates and vendor contracts and employee pay cuts. Management and pilots are taking the biggest cuts, according to National.
National president and chief executive Michael Conway said: “The unwavering support of our loyal and growing customer base and our travel agent partners cannot be overemphasized.”
The financial package would seem to have saved National, which faced a potential shutdown after the Air Transportation Stabilisation Board rejected the airline’s request for a $55.5m federal loan guarantee.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Global tourism exceeds 1.5 billion travelers announces UN-Tourism
Qatar Airways offers reduced timetable to over 60 destinations
WTTC global tourism reached record economic impact of 11 trillion in 2025
Hands In, UATP join forces for airline multi-card payments
Overseas travelers to the United States declined by 2.5% in 2025