Delta Ninth Largest Bankruptcy Filing Largest in 2005, According to BankruptcyData.com.BOSTON Boston, town, England Boston, town (1991 pop. 26,495), E central England, on the Witham River. Boston's fame as a port dates from the 13th cent., when it was a Hanseatic port trading wool and wine. Having recovered from a decline in the 18th and 19th cent. -- With total assets of $21,801,000,000 (as reported on its latest Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. ) Delta Air Lines, Inc. (DAL) became the largest corporation to file for bankruptcy bankruptcy, in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most in 2005 and the ninth largest public company bankruptcy in history, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. www.BankruptcyData.com, a Boston-based web site published by New Generation Research, Inc. Delta's September 14th bankruptcy filing also represents the second largest airline filing of all time. To date, the largest airline to file for Chapter 11 is UAL UAL United Airlines (ICAO code) UAL Unified Accelerator Library (Brookhaven National Laboratory) UAL User Account Lockdown UAL User Access Layer UAL Universal Auxiliary Language UAL User Agent Layer Corp. (UALAQ) who listed $25,197,000,000 in assets at the time of their December 9, 2002 filing. Delta's filing, along with yesterday's Northwest Airlines Corporation Chapter 11 filing, means that four major airline carriers are now under bankruptcy protection. Those four airlines, US Airways Group US Airways Group Inc. NYSE: LCC is the Tempe, Arizona-based airline holding company that operates US Airways, US Airways Express and America West Airlines. It also operates additional companies that provide associated services. , Inc. (UAIRQ), Delta (DAL), Northwest (NWAC NWAC Northwest Airlines (stock symbol) NWAC Northwest Weather and Avalanche Center (NOAA) NWAC Native Women's Association of Canada (Ottawa, ON, Canada) ), and UAL Corp. (UALAQ), listed a total of $63,696,000,000 in assets upon filing. To date, the total assets of the 61 publicly traded companies publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. filing for bankruptcy in 2005, including Delta, now sits at $53,492,000,000 according to www.BankruptcyData.com. The largest airline filings 1980 - 2005: Company Ch. 11 Date Assets ----------------------------------------- ----------- ---------------- UAL Corp. (UALAQ) 09-Dec-02 $25,197,000,000 ----------------------------------------- ----------- ---------------- Delta Air Lines, Inc. (DAL) 14-Sep-05 $21,801,000,000 ----------------------------------------- ----------- ---------------- Northwest Airlines Corporation (NWAC) 14-Sep-05 $14,042,000,000 ----------------------------------------- ----------- ---------------- US Airways Group, Inc. (UAIRQ) 12-Sep-04 $8,349,000,000 ----------------------------------------- ----------- ---------------- US Airways Group, Inc. (UAIRQ) 11-Aug-02 $7,941,000,000 ----------------------------------------- ----------- ---------------- Continental Airlines Holdings, Inc. (CAL) 03-Dec-90 $7,656,140,000 ----------------------------------------- ----------- ---------------- Eastern Air Lines, Inc. (Liquidated) 09-Mar-89 $4,037,000,000 ----------------------------------------- ----------- ---------------- Trans World Airlines, Inc. (TWAIQ) 31-Jan-92 $2,864,530,000 ----------------------------------------- ----------- ---------------- Additional information and continued coverage of the Delta Air and Northwest bankruptcy filings is available at www.BankruptcyData.com. BankruptcyData.com provides news, financial history, creditor An individual to whom an obligation is owed because he or she has given something of value in exchange. One who may legally demand and receive money, either through the fulfillment of a contract or due to injury sustained as a result of another's Negligence information, reorganization details and more for over 2000 publicly-traded companies that have filed for bankruptcy protection, dating back to 1980. The extensive database, which tracks all publicly-traded bankruptcies, can be searched by assets, industry, filing date or company name. Professional retention information is also available. For additional information: www.BankruptcyData.Com, 225 Friend St. Boston, MA 02114, telephone (617) 573-9550, customersupport@bankruptcydata.com. |
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