When did Midway go bankrupt?
 

Can anyone tell me when Midway went bankrupt? Was it before or after the Sept. 11th attacks? I need to know for school project. <BR>Thanks.

It was before Sept. 11 they filed bankruptcy, after the 11th they stopped flying altogether because they could not make up for the monetary losses they suffered as the result of the grounding of all air traffic.

Midway declared bankruptcy in early- to mid-August. Big mess before the 9/11 attacks (wouldn't pay the staff, wouldn't give answers about refunds or trading to a different flight). Midway did receive around a $3M loan a few days before the attacks to keep business going, but there have been no flights since 9/11. Midway has applied for some of the federal money so they had to pay their employees. They might get around $15M in federal bailout money even though they were in bankruptcy prior to the attacks. <BR> <BR>You might want to check out the archives from the local newspapers -- The Raleigh News & Observer and The Durham Herald-Sun.

Raena, you just need to understand that going bankrupt is often not an event that happens at a specific point in time. Midway filed for Chapter 11 protection from their creditors well before Sept. 11, but did not declare theselves to be out of business until a couple days afterwards. <BR> <BR>Companies sometimes do recover and go on to be successful after filing Chapter 11, even though many people consider that filing to be "declaring bankruptcy" or "going bankrupt."

Not sure of the exact date but it was definitely 2 or 3 months prior to Sept. 11. However, they were going to continue flying with no set date for discontinuing flights and working out a possible reorganization selling off assets. It was the Sept. 11 tragedy and the grounding of flights that caused them to have further money problems. Therefore, they were unable to resume operations when other flights began again.