Frequent flyers of Northwest Airlines will be happy about Friday’s announcement of their plan to reorganize and end almost two years of bankruptcy; the plan was approved at the U.S. Bankruptcy Court for the Southern District of New York. Stock exchange trading for the company will resume on Thursday, May 31.
Northwest Airlines filed Chapter 11 back in September of 2005 within minutes of Delta also claiming bankruptcy.
On a related note, on Thursday United Airlines announced plans to downsize their domestic flights by 2 to 3 percent while increasing their international capacity. They will add new flights from LAX to Hong Kong and from Washington, DC to Rio de Janeiro, Brazil.