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With an approved bankruptcy reorganization agreement with Hyatt Corporation a new Braniff, Inc., would be created from the assets of Braniff Airways, Inc. and Braniff International Corporation and would begin operations on March 1, 1984.
The Debtor, Braniff Airways, challenges Defendants' assertions of priority status for their claims under § 507 of the Bankruptcy Code ("Code"), their entitlement to setoff rights, and their claims to be beneficiaries of a trust fund.
The collection concerns the administration of the airline prior to its closure in 1982, the affect of the bankruptcy on employees and other companies, as well as plans by Hyatt Hotels to acquire and reorganize Braniff Airways.
On December 30, 1982, Braniff filed with the Bankruptcy Court a "Memorandum of Understanding" as a basis for a proposed settlement and compromise of all claims, counterclaims, and potential litigations by and among Braniff, certain unsecured creditors, and certain secured creditors.
Braniff Airways, Incorporated, and Braniff International Corporation are reorganized as Dalfort Corporation and the reorganized company is financed by Hyatt Hotels founder Jay A. Pritzker, who has invested $117.6 million USD in capital in the new entity and owns 80-percent of the company.
- (214) 233-6473
- INFO@BRANIFFINTERNATIONAL.COM
Jun 9, 2022 · Braniff International Airways was then renamed to Braniff International in 1965. In 1967 Braniff, purchased Pan American-Grace Airways (known as Panagra) from shareholders of Pan American World Airways and W.R. Grace, increasing its presence in South America. The merger was effective on 01Feb1967.
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Nov 1, 1994 · The Civil Aeronautics Board granted approval to serve South America in 1943, and the company was renamed Braniff International Airways. Braniff acquired Bowen Air Lines and operated it in 1935–36; it owned and operated Aerovias Braniff in Mexico from 1943 to 1946.
