Jonathan Williams on Bankruptcy and Spirit Airlines
ICLE Academic Affiliate Jonathan Williams was quoted in a Newsweek piece regarding Spirit Airlines’ warning of closure after the company filed Chapter 11 bankruptcy.
“Once the possibility of a bankruptcy arises, it effectively becomes a self-fulfilling outcome,” said Jonathan Williams, a professor of economics at the University of North Carolina at Chapel Hill. “Passengers don’t want to book with a carrier that is canceling flights, removing markets, furloughing pilots, or potentially compromising safety for cost savings (i.e., a short-term time mindset to preserve cash).”
Read the full piece here.