Ciliberto, Federico; Schenone, Carola - In: Journal of Corporate Finance 18 (2012) 5, pp. 1217-1231
We use data from the US airline industry to investigate whether firms that are under bankruptcy protection, as well as … delays and cancelations are less frequent during bankruptcy filings but return to their pre-bankruptcy levels once the … bankrupt firm emerges from bankruptcy. We also find that firms use Chapter 11 filings to permanently reduce the age of their …