Northwest Airlines yesterday disclosed that it had skipped $42 million in payments as its shares plunged 58% to close at $1.41 on a report in Tuesday's New York Times that the carrier may precede Delta Air Lines into bankruptcy owing to soaring fuel costs. The article cited anonymous sources who said the airline could seek Chapter 11 protection as early as today. Meanwhile, Northwest in a filing with the US Securities and Exchange Commission said it had skipped scheduled payments due Sept. ...

Subscribe to Access this Entire Article

"NWA bankruptcy seen near as mechanics vow to keep striking" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.