Top 20 Company Bankruptcies

20. Delta Air Lines: Date: Sept. 14, 2005: Assets: $21.8 billion: In 2005, skyrocketing fuel prices and increased competition from low-cost carriers forced half of major airlines to reorganize under Chapter 11. Delta, the third-largest airline at the time, cut 6,000 jobs and $3 billion in annual costs before emerging from bankruptcy 19 months later. The company managed to fend off a hostile bid by US Airways

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