November 2022
Feature Article
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Aviation Chapter 11 Cases Take Flight
The COVID-19 pandemic hit the bottom line of many businesses. Among the hardest hit industries has been the travel industry and, in particular, airlines and aviation companies. After suffering a complete shutdown at the beginning stages of the pandemic, airlines struggled to generate ticket sales and fares were depressed, even as travel began to reopen.1 […]
More from this Issue
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Turbulence in the Airline Industry
Airlines were among the industries hardest hit by the global pandemic. Though conditions have improved somewhat since travel reopened, airlines continue to face challenges with staffing, increased costs for fuel, and other inflationary pressures. This issue of the JCR offers insights into how airlines are coping with the highly volatile environment in which they’ve operated […] -
One Connection Leads to a Worldwide Community of Opportunity
As we embark on The 2022 TMA Annual, I harken back to a time not so long ago when we were talking about how to be a more forward-facing TMA. It was at a time when the appreciation for what TMA represented was less clear, and the messaging behind what it meant to be a […] -
Building Invaluable Connections
“It Starts With One Connection,” the theme for The 2022 TMA Annual, couldn’t be more relevant right now. Each TMA Global conference theme serves as a headline of the times, building on one another to guide us to the next. Past themes, such as “Reunited and Reignited,” “Get Ready for Impact,” “Better Together,” and “Innovation […] -
Aviation Chapter 11 Cases Take Flight
The COVID-19 pandemic hit the bottom line of many businesses. Among the hardest hit industries has been the travel industry and, in particular, airlines and aviation companies. After suffering a complete shutdown at the beginning stages of the pandemic, airlines struggled to generate ticket sales and fares were depressed, even as travel began to reopen.1 […] -
Strategic Considerations for International Airlines Restructuring under Chapter 11
Since 2020, at least five multinational airlines have filed for Chapter 11 bankruptcy1 protection before the U.S. Bankruptcy Court for the Southern District of New York.2 These cases provide a lens through which airlines and restructuring professionals can view potential restructuring efforts and the decision to file for Chapter 11 as opposed to pursuing out-of-court solutions or […] -
Need for Operational Flexibility May Test Airlines’ Stakeholders in Restructurings
In the wake of the COVID-19 pandemic, the surviving airlines have accelerated cost-cutting efforts, curtailed capital expenditures, and reduced their fleets. Arguably, airlines are in a much stronger operational position to cope with volatile operating environments. However, the highly uncertain waves of future disruption facing the industry require airlines to be nimble and maintain significant […] -
To Release or Not to Release? Courts Remain Split on Release Provisions
Release provisions are a common feature of almost every Chapter 11 plan in large bankruptcy cases. Three categories of release provisions typically are included: (i) releases by the debtors of claims they may hold against a list of “released parties;” (ii) consensual releases by and among the non-debtor third parties involved in the bankruptcy case; and […] -
The Effect of Cross-Border Restructuring Convergence on Future International Restructurings
With the outlook for the U.S. and world economies fading,1 restructuring professionals may anticipate new innovations during the coming down cycle. One likely innovation will be an increasing number of cross-border restructurings using the growing flexibility of restructuring law abroad, especially in the United Kingdom and Europe, as these legal regimes have converged with U.S. […] -
Newcomers: November
Arizona Alex Kaltsas, SMS Financial LLC Jasmine Martich Atlanta David K. Fagerstrom, FORVIS Chicago/Midwest Karin H. Berg, Blank Rome LLP Benjamin J. Bleadon, Bleadon & Assoc. Ltd. Michael W. Branson, Paladin Management Group LLC Daniel J. Fafinski Adam L. Kaplan Greg Nelson, Great Lakes Business Credit Elaina M. Ricci Alex Tricoli-Walkanoff Deepika Udhani Connecticut Steven J. Bacon […]