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Braniff Airways, Inc., operated as Braniff International Airways from 1948 until 1965, and then Braniff International from 1965 until air operations ceased, was a United States trunk carrier, a scheduled airline that operated from 1928 until 1982 and continues today as a retailer, hotelier, travel service and branding and licensing company, administering the former airline's employee pass ...
With the addition of the South America route system, merger with Mid-Continent Airlines, and reduction in mail subsidy on the Mid-Continent system, Braniff International Airways recorded a US$1.8 million operating loss during 1953. Aircraft that were scheduled to be disposed of offset the loss and the company recorded a meager $11,000 net income.
May 24, 1982 · Flowers signed three bankruptcy petitions in all—for Braniff International, Braniff Airways and Braniff Realty—and was paid $600 on the spot for his services. ... Braniff had lost $336 million ...
May 12, 2023 · Photo: Aero Icarus via flickr. Ultimately, on May 12, 1982, Braniff announced the suspension of all its flights and informed its 9,500 employees that they were not required to report to work the following day. The airline then applied for bankruptcy and ceased all operations, ending 54 colorful years in the skies. Source: The New York Times.
- Senior Editor
May 13, 1982 · In 1980, Braniff lost $131 million and in 1981, the airline had a net loss of almost $161 million. Its total debt obligation Wednesday was almost $1 billion -- clearly in excess of $858 million.
May 14, 1982 · May 14, 1982, 12:05 p.m. ET. Braniff International this week became the first major US airline in 20 years to declare bankruptcy. The airline, famous for its multicolored jets and self-promotion ...
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May 17, 1982 · 'The company's revenue was just deteriorating. The cash was going out at a faster and faster rate.' A 12-member team assembled early Monday morning, May 10, and was told Braniff might have to be ...
