bankruptcy | George Hatcher's Air Flight Disaster https://airflightdisaster.com Aviation News, Headlines & Alerts Mon, 09 Apr 2012 20:31:04 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 Air Australia Passengers Stranded https://airflightdisaster.com/air-australia-passengers-stranded/ Fri, 17 Feb 2012 02:29:57 +0000 http://airflightdisaster.com/?p=19625 Brisbane’s budget airline Air Australia just announced that flights are canceled and there will be no more new bookings because it can’t pay its bills. The company is now in Australia’s version of bankruptcy protection (voluntary administration). A portion of 4000 passengers were left stranded in places like Phuket and Honolulu. Jetstar and Qantas are...

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]]> Brisbane’s budget airline Air Australia just announced that flights are canceled and there will be no more new bookings because it can’t pay its bills. The company is now in Australia’s version of bankruptcy protection (voluntary administration). A portion of 4000 passengers were left stranded in places like Phuket and Honolulu. Jetstar and Qantas are considering selling return seats to passengers. Passengers will likely be able to recoup their Air Australia purchase price through their credit card company. The airline has only been in operation for two months. 300 jobs were just lost if the business is unable to recover.

In George’s Point of View


Good for Air Australia. It’s the responsible thing to do.

Frankly, it is better for the operators who are running short of cash to get out fast. Maybe this bankruptcy will uncover some well-heeled investors. If not, getting out fast is the right thing to do. A shortage of cash can result in scrimping where there is no room for cost-cutting, like maintenance, etc. Cash shortages can cause budget cuts that can too easily result in loss of life.

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]]> American Airlines Emergency Landing (and Bankruptcy) https://airflightdisaster.com/american-airlines-emergency-landing-and-bankruptcy/ Tue, 29 Nov 2011 14:43:48 +0000 http://airflightdisaster.com/?p=18982 What: American Airlines Boeing 767-200 flight from New York City to San Francisco Where: Buffalo Niagara International Airport When: Nov 27, 2011 Who: 713 passengers Why: After having taken off from JFK, the flight developed smoke in the cockpit. Pilots diverted to Buffalo, where they made a safe landing. No injuries were reported. American Airlines...

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]]> What: American Airlines Boeing 767-200 flight from New York City to San Francisco
Where: Buffalo Niagara International Airport
When: Nov 27, 2011
Who: 713 passengers
Why: After having taken off from JFK, the flight developed smoke in the cockpit.

Pilots diverted to Buffalo, where they made a safe landing. No injuries were reported.

American Airlines routed another plane in to pick up the passengers. In the meantime, passengers were put up overnight in a hotel.

On an unrelated note, the CEO of American Airlines, CEO Gerard Arpey, stepped down. After a meeting in NY on Monday, the company is filing Chapter 11 bankruptcy. Operations of the airline will continue as usual, and frequent fliers will not be affected. However, some jobs will be cut. American Eagle also filed for bankruptcy, delaying its spin off from American.

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