Trouble for Airlines
By Johns Wu on Sep 13, 2005
Northwest Airlines (NWAC) tanked over 50% today after news that Northwest and Delta Airlines (DAL) will be filing for bankruptcy.
Although this has been expected for months, this is still bad news for the airline sector, and many airline stocks will probably continue to move in sympathy. Airlines will have a lot of difficulty meeting earnings targets this quarter because of the $60-$70 crude prices.
The link contains a few airline stocks that should be affected by this bankruptcy news. And remember, keep on submitting any cool stories you come across!
3 Responses to “Trouble for Airlines”
My viewpoint is it is better for the “better managed” airlines in the industry for atleast one of the big airline to go under the hammer..
However, don’t forget the fact that one of the reason for DAL & NWAC to file bankruptcy now is to do it before OCT 17, when the much more strict new bankruptcy law comes into force.
The new law is more “creditor friendly” that the existing one…
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I have been short on AMR since August. One thing to note: some stronger airlines may actually benefit if Delta and Northwest reduce their flight schedule.