About UPI  |  UPI en Español   |   My Account
Free News Update:
United Press International - News. Analysis. Insight.™ - 100 Years of Journalistic Excellence
  • Home
  • Top News
  • Entertainment
  • Odd News
  • Sports
    • Baseball
    • Football
    • Golf
    • Olympics 2008
    • Tennis
  • Business
  • Science
  • Health
  • Analysis
    • Energy Resources
    • Security Industry
    • Emerging Threats
  • Media
    • Video
    • News Photos
  • Features
    • The Voice of Young Voters
    • Path to the Presidency
    • Energy
    • Beijing Olympics 2008
Search:
Go
You are here:  Home / Business News / Northwest emerges from bankruptcy

Business News

View archive | RSS Feed

Northwest emerges from bankruptcy

Published: May 31, 2007 at 8:48 AM
Order reprints  |  Print Story  |  Email to a Friend  |  Post a Comment
MINNEAPOLIS, May 31 (UPI) -- Northwest Airlines (NYSE:NWA), flirting with liquidation in 2005, emerged from bankruptcy Thursday planning major upgrades and mended fences.

Northwest Chief Executive Officer Doug Steenland, who signified the airline's return by ringing the bell to open the New York Stock Exchange Thursday, told the Star Tribune in Minneapolis that the airline would spend $6.2 billion on new AirBus and Boeing jets with accent on expanded international flights.

The airline, fifth largest by traffic in the United States, also listed two paramount goals as repairing employee relations and improving customer service. In regard to the latter, Northwest said each employee would be given a trip with family members or a companion.

Northwest, the last airline to step out of Chapter 11 after a six-year industry downturn that sent many airlines into bankruptcy, sought protection from creditors 20 months ago, weighed down by high labor costs, an old and overly large aircraft fleet, heavy debt and huge pension liabilities.

© 2007 United Press International, Inc. All Rights Reserved.

RATE THIS ARTICLE
    Poor    1    2    3    4    5  Excellent    
Feedback


News Photos - Slideshows
Photos of the Day
Week in Photos
News
Entertainment
Sports
Features
Archives
Olympics 2008
Path to the Presidency
Additional News Stories
Top News
  • Hurricane Omar stronger in Caribbean
  • Casey Anthony arraigned on murder charges
  • World's biggest alleged spammer shut down
  • Memos show White House OK'd harsh tactics
  • Canadian Conservatives win bigger minority
Business News
    Crude oil prices move lower Wednesday
    Crude oil prices move lower Wednesday
    NEW YORK, Oct. 15 (UPI) --
    Crude oil prices fell to their lowest point -- $75.22 a barrel -- in 13 months in New York as investor uncertainty over demand lingers.
  • Business groups sue over immigration law
  • Cambodian, Thai troops clash
  • Credit card giants settle antitrust suit
  • Leaders of smaller banks fume over bailout
Entertainment News
    Janet Jackson suffering from migraines
    Janet Jackson suffering from migraines
    LOS ANGELES, Oct. 15 (UPI) --
    Janet Jackson's manager said vestibular migraines forced the U.S. pop star to cancel several recent concerts.
  • 'Desperate' actor in motorcycle crash
  • Madonna and Ritchie announce divorce
  • DiSpirito eliminated from 'DWTS'
  • Beyonce donates $100K to Ike relief fund
Health News
    Bottled water may contain pollutants
    Bottled water may contain pollutants
    WASHINGTON, Oct. 15 (UPI) --
    A non-profit group says 10 U.S. bottled water brands contain 38 different pollutants but the water bottling industry says its water is fully regulated.
  • CDC: U.S. infant mortality drops to 29th
  • Gold Gym names top 10 fittest presidents
  • One-third have sex dysfunction post trauma
  • Healthcare ranks second to economy
Have an opinion? Leave a comment. No Registration Required.
UPI Features - The Voice of Young Voters


Most Popular
Stories
Photos
Videos
People
1.
Pre-sale orders for Android phone take off
2.
Apple may launch new laptop
3.
Ford reportedly rejected GM merger
4.
Crude oil prices drop under $85 per barrel
5.
Report: National City Bank for sale


Videos
Enlarge Video
Expectations for the final presidential debate
Expectations for the final presidential debate
Wednesday, October 15
All you need is love...and sometimes politics
All you need is love...and sometimes politics
Wednesday, October 15
Redefining the American Dream
Redefining the American Dream
Tuesday, October 14
Financial solutions from across the pond
Financial solutions from across the pond
Tuesday, October 14
© 2008 United Press International, Inc. All Rights Reserved. Official Government Wires  |   About UPI  |   Site Map  |   Terms of Use  |   Privacy Policy  |   Advertise Online  |   Contact Us

Sponsored Links: College Football Tickets - Prom dresses and gowns - Public Records - Auto Dealers - Motivational Sports Speakers Bureau