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Alitalia Files For US Bankruptcy Protection, Preventing JFK Ejection
Julian Mark Kheel
Contributor
June 13, 2017
•
2 min read
Alitalia Files For US Bankruptcy Protection, Preventing JFK Ejection
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Alitalia has received temporary bankruptcy protection from a US court just 24 hours before the airline was due to be ejected from Terminal 1 at New York's JFK airport, according to a court filing by the airline.
Judge Sean Lane of the US Bankruptcy Court in the Southern District of New York issued a temporary restraining order until at least June 23, allowing Alitalia to continue to operate at JFK and in the US despite its financial condition. The beleaguered flag carrier of Italy began bankruptcy procedures in its home country last month after its unions rejected a €2 billion recapitalization plan that would have resulted in pay cuts and layoffs.
According to FlightGlobal, Alitalia said in its Chapter 15 US bankruptcy filing that the operator of JFK's Terminal 1 had informed the airline that its lease and contract at the airport would be terminated on June 13 due to a failure to pay its bills. The carrier's US telephone and internet provider had also given notice of its intention to cut off service as of June 20 if its invoices remained unpaid. The restraining order issued by the court prevents both actions from taking place for the time being.
The carrier noted in its filing that its operations at JFK Airport were vital to its finances, stating that 15% of its global revenues are generated from its operations to and from New York and 30% of its overall revenues from its nine flights to and from the US. That's an impressive amount considering the entire airline serves just under 100 destinations, albeit many of them smaller cities throughout Europe. Alitalia is a member of the SkyTeam alliance, which includes US carrier Delta along with Air France, KLM, Korean Air and others.
Chapter 15 of the US bankruptcy code provides protection for foreign entities operating in the United States — Alitalia currently has 36 employees in the US. The next hearing in the case is scheduled for June 26. In the meantime, if you're holding tickets on Alitalia, you should be safe in the short term, though it may not be a good choice for longer range planning.
H/T: Live and Let's Fly
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Best for dining at restaurants
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Rewards Rate
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
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Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits.Pros
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- Packed with credits foodies will enjoy
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Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
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- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
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- No Foreign Transaction Fees.
- Annual Fee is $325.
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