Bankruptcy tips

British regional airline Flybe on Saturday ceased trading for the second time in three years, cancelling all flights and 276 workers made redundant.

Ebix Inc, the financial technology firm and parent company of EbixCash in India, has filed for bankruptcy in a North Texas court and the impact on operations in India remains uncertain.

Indian low-cost carrier SpiceJet on Tuesday officially confirmed its intent to bid for Go First, which filed for bankruptcy in May this year.

The Mexican government signed a deal with several aviation unions Friday to purchase the brand of the defunct Mexicana airline for 811.1 million Mexican pesos ($42.41 million), a union spokesman told Reuters.

Norwegian airline Flyr announced on Tuesday it would file for bankruptcy after failing to raise the money it needed for its operations, becoming the latest aviation casualty since the start of the pandemic.

Mexican regional airline Aeromar closed its doors on Wednesday after it failed to reach a deal with creditors or secure new capital.

Struggling Colombian budget airline Viva Air stopped flying late Monday, less than a month after it filed for the local equivalent of bankruptcy.

Indian low-cost carrier GoFirst filed for bankruptcy with the National Company Law Tribunal on Tuesday, citing mounting losses due to the grounding of almost half of its aircraft.

Approximately 91 percent of LGBTQ+ travelers in India now consider their personal safety and well-being when selecting a travel destination, according to a Booking.com survey. This represents a significant increase from 70 percent reported in the previous year. The LGBTQ+ travel research conducted by Booking.com, now in its third year, sheds light on both the progress made and the recent setbacks faced by these communities in terms of travel experiences.

If you flew TWA to or from New York before the airline declared bankruptcy for the third and final time, in 2001, your travel experience was elevated by a walk through one of the world’s most enduring architectural spaces.

Warren Buffet is famous for being one of the world’s savviest investors, earning billions for himself, and plenty for his stockholders as well. As chief of the Berkshire Hathaway conglomerate, he’s been accorded the honorary title of the Oracle of Omaha.

When legendary investor Warren Buffett began investing in airline stocks last year, it was big news in the investing community. Theretofore Buffett had been a staunch critic of the industry’s underlying economics, and regularly unleashed scathing takedowns of airline investments. Like this, from 2002:

If you closely followed the debate leading up to the American-US Airways merger, you’ll recall a period during which it seemed a safe bet that the Department of Justice would nix the tie-up on antitrust grounds. DOJ officials signaled that, after signing off on mergers between United and Continental, Delta and Northwest, and Southwest and AirTran, further consolidation was likely to impede competition and give the airlines outsize pricing power. And it was their duty to forestall just such an outcome.

There’s an intriguing theory, fully articulated by the liberal filmmaker Michael Moore, circulating on the Internet that Donald Trump has no real interest in winning the race for President. Rather, the theory goes, Trump’s true goal is to enhance his personal brand, in the process driving more business to his current portfolio of enterprises and setting the stage for the creation of a Trump media empire.

Yesterday, two of the world’s largest airlines got new presidents. What’s less clear is how, and why.

German low-cost carrier Air Berlin filed for bankruptcy earlier this week, after one of it’s largest investors, Etihad Airlines, declined to finance a business-saving bailout.

Warren Buffett, one of the world’s best known and most successful investors, has a wildly variable relationship with the airline industry, dating back to his ill-timed investment in USAir, in 1989, which underperformed his return-on-investment expectations. He’s been a fierce critic of the industry ever since, regularly fulminating against airline investments, as he did in this 2002 interview with The Telegraph:

A rising budget airline seems to have met its end. Primera Air, which recently expanded its routes to the U.S., announced that it’s suspending all operations as of October 2, 2018. Primera’s website promises “further updates,” but notes that it is no longer reachable by phone or email.