| More Airline Bankruptcy Fears |
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| Written by Howard Dicus - hdicus@kgmb9.com | |||
| May 19, 2008 07:29 PM | |||
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Forrester research said the industry is being pushed past its point of economic viability. Standard & Poor's said the top 10 airlines could be down to a month's cash by the end of the year. Merrill Lynch is even handicapping bankruptcies, sending customers a list of the airlines it sees as being closest to chapter 11 filings. The inclusion of American as fourth-at-risk is notable, since, unlike the others, American did not go bankrupt after 9/11. American, United and Northwest have all negotiated new borrowing terms that will probably put them in default later this year if fuel and fares stay as they are. Even Southwest, so often held up as being in better shape than the rest, has mortgaged 21 jets to raise cash. Almost any outcome to this crisis could harm Hawaii.              |
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| Last Updated ( May 21, 2008 07:11 PM ) | |||
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