When is an airline considered "bankrupt"?

Started by azflyer, March 23, 2010, 06:01:43 PM

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azflyer

March 23, 2010, 06:01:43 PM
I notice it all the time that another airline is bankrupt due to "high debts". Fortunately, I haven't had the pleasure of finding this out for myself, but when is an airline considered "bankrupt"?

I have in the past run a negative balance for a few days but always managed to get back in the black....
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