Speaking of airline bankruptcies, guess who's back? Braniff, of course.
After going bankrupt twice in the 1980s, the once-proud Dallas carrier was liquidated. Real estate investors Jeffrey Chodorow and Arthur Cohen--who led Braniff into its second filing--then bought the name and attached it to a charter carrier they had purchased. They launched the new Braniff International Airlines on July 1, with dreams of serving New York and Los Angeles out of Dallas. The dream lasted until Aug. 7, when Braniff filed for Chapter 11 again. Only in the airline industry.