ATA Goes Bankrupt, Cancels All Flights

Hong Kong airline becomes 4th carrier to go bust this month

(NEWSER) - Thousands of passengers have been stranded in Hong Kong, London, and Vancouver with the collapse of Asian budget airline Oasis, the New York Times reports. In a sign that the industry's woes are spreading rapidly, the Hong Kong-based airline joins three US budget carriers to have gone under this month in the face of soaring fuel prices and economic jitters. More»

Low-cost Ohio carrier with $10 fares is airline industry's third casualty in a week

(NEWSER) - Anybody who wondered how Skybus could make money with its famous $10 airfares can stop: they didn't. The Ohio-based airline has become the latest US carrier to go bankrupt in the face of soaring fuel costs and a sluggish economy, the Columbus Dispatch reports. It made its last flight yesterday and passengers boarding planes were warned their return tickets had suddenly become one-way. More»

Up to 85K were overseas when holiday firm went bust

(NEWSER) - The sudden collapse of XL Airways left as many as 85,000 passengers marooned in foreign lands, but they're now expected to get home on schedule, or at least only a little late, the Times of London reports. Aviation authorities plan a vast airlift to take home the stranded, but industry-watchers warn that the industry's woes are far from over. More»

Soaring fuel prices mean airline fees, shakeups here to stay

(NEWSER) - The days of discounts and perks on major US airlines have disappeared from the horizon, possibly forever, Marketwatch writes. The stratospheric fuel prices that caused three airlines to shut down last week alone are forcing airlines to boost their bottom lines any way they can. Capacity is being cut back and charges for things like second bags are spreading through the industry. More»

(NEWSER) - Delta has emerged from bankruptcy, riding an aggressive restructuring plan to exit Chapter 11 a year ahead of schedule. The No. 3 domestic airline, which staved off a hostile takeover bid from US Airways this year, used court-enforced protections to secure cuts to wages and pension programs as it shored up high-profit international routes and restructured its fleet. More»