IMHO the business model used by SkyBus was flawed from the beginning.
On the other hand ATA's business model was a good one for any former time until the change in the Chapter 11 law.
Chapter 11 was a safety net for all U.S. corporations. Under the old law you could be bankrupt and operate as long as you complied with the instructions of the bankruptcy court.
With the change in the law, it's much harder to avoid chapter 7. Which is where several of these Chapter 11 events of the last few years would have ended up under the current law.
On the other hand ATA's business model was a good one for any former time until the change in the Chapter 11 law.
Chapter 11 was a safety net for all U.S. corporations. Under the old law you could be bankrupt and operate as long as you complied with the instructions of the bankruptcy court.
With the change in the law, it's much harder to avoid chapter 7. Which is where several of these Chapter 11 events of the last few years would have ended up under the current law.
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