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Cyprus Turkish Airlines faces bankruptcy - Cyprus Mail

THE NORTH’S Cyprus Turkish Airlines (KTHY), faces conceivable bankruptcy after the players that maintains its aircraft sent in bailiffs to seize US$12 million significance of renowned debts.

The move came on Monday, when Turkish Technics, a Turkish-based care society linked to the Turkish state porter Turkish Airlines (THY), called in a desire-continuing in arrears, affectively ice-cold KTHY’s assets.

“Bankruptcy has not been declared yet, but it remains probably,” a inception close-matched to the troubled airline’s governance told the Cyprus Send yesterday. The hauler’s steersman Selim Altincik is currently in Turkey holding difficulty talks aimed at averting the totality disappearance of KTHY.

According to sources, KTHY’s debts are not fixed to those owed to Turkish Technics, and in the score amount $120 million. The Cyprus Correspondence was also told that the airline was currently losing around $3.5 million a month.

KTHY, which known has six planes in its agile, has been plagued with problems since it was established in 1974. Recently, it was hit by a series of strikes at the north’s chief airport Ercan when the airline tried to lay off 137 employees. All were sooner reinstated, although none of the 670 alpenstock at the airline have been paid since Demonstration.

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American Airlines bankruptcy fallout

American Airlines is now the last chief US carrier to file for bankruptcy. Mark Strassmann reports on what it means for the company, its employees ...

after northwest airline bankruptcy was there anything they could do to save themselves rather then merging now?

what could they have done to choke up the strikes and to save money?


I don't take your question. Northwest emerged from bankruptcy on May 31, 2007. They announced the merger with Delta on April 14, 2008.

Apparently they were operating profitably at the all together of the merger announcement. The merger

Can I use airline miles accrued through a credit card if I file for bankruptcy?

I've been out of line for over a year and have needed to use my credit cards to live on, but now am no longer able to make the payments and am planning on filing for bankruptcy. If I use the airline miles to acquisition a ticket can they cancel the ticket?


Unless you have millions of airline miles that you are skilled to cash in, chances are good that your bankruptcy attorney will be able to exempt the value of the airline miles (or a ticket bought with them) from being bewitched to pay your creditors.

Does anyone know what happens to your credit card miles if an airline files for bankruptcy?

Aloha Air impartial filed bankruptcy and we have 140,000 miles. Does anyone know what's happening to those miles, or been in a similar circumstance?
haha, ScubaGirl! I'm flying lavish on my Heineken, right now! :)


Aloha Airlines has announced today that they have ceased operations in the Hawaiian Islands, and all air miles are, base to day, no more. In a situation with a credit card, I would definitely contact your issuing bank, as I have had several air mile

airline bankruptcy - News


JAPAN PRESS: Japan Airlines Corp is expected to its
JAPAN Steam: Japan Airlines Corp is expected to complete its court-administered business rehabilitation on Monday, the Nikkei statement. The airline operator, which filed for bankruptcy protection in January 2010, has worked to turn around operations with

Southwest's NH connection strong
Southwest's NH connection strong 11 attacks and a pair of financial recessions, the airline industry as a whole has suffered great losses in the past decade with companies losing revenues and declaring bankruptcy, but Southwest has managed to leg increasing revenues and expand into



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