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Latest Business News

Northwest Exits Bankruptcy Protection

Thursday, May 31, 2007 8:19:37 PM
By JOSHUA FREED

Doug Steenland, left, President and CEO of Northwest Airlines, watches as brokers track his company's listing on the New York Stock Exchange on Thursday, May 31, 2007 in New York. Northwest Airlines Corp. is emerging from bankruptcy a little smaller, a lot more efficient, and with some of the lowest costs among major carriers. (AP Photo/Mark Lennihan)MINNEAPOLIS (AP) - With Northwest Airlines out of bankruptcy on Thursday, the nation's largest carriers have reorganized to compete better in a world of discount carriers and higher fuel prices.

Travelers munching pretzels for dinner, instead of a complimentary meal, on a crowded plane already know about some of the changes over the last few years, which included bankruptcy reorganizations by Northwest, Delta, United, and U.S. Airways.

Most major airlines have trimmed unprofitable routes and fly fuller planes on the routes that are left. Workers took pay cuts at the bankrupt carriers as well as American Airlines, which narrowly avoided bankruptcy in 2003.


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