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 …

We investigate the effects of Chapter 11 bankruptcy filings on product market competition using data from the US …-specific prices while under bankruptcy protection, and increase them after emerging. We do not find robust evidence of significant … hypothesis that bankruptcy is the result of a war of attrition over capacity and network cutbacks. …