US airlines hire bankruptcy lawyers in face of war
Reuters has reported that major US airlines, including the world’s largest, American Airlines, have hired bankruptcy lawyers in the face of an unprecedented downturn as war with Iraq looms.
Reuters sources said the hiring of various firms does not necessarily mean that the airlines are preparing imminent bankruptcy filings, but that “it signals they are keeping options open” as billions of dollars in industry losses continue since September 11.
The report says Wall Street has estimated that the major US carriers lost between $8 billion and $10 billion in 2002, levels which “cannot be sustained for long”.
For the full story, see ABCnews.com.
Read our previous story:
27-Jan-03 War will hit industry hard, warns Virgin
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.































Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Euromonitor International unveils world’s top 100 city destinations for 2025
U.S.A. and Israel attacks on Iran impact air movements in the Gulf (Update 1.00pm CET)
Global tourism exceeds 1.5 billion travelers announces UN-Tourism
WTTC global tourism reached record economic impact of 11 trillion in 2025