Bankruptcy

The airline is reportedly struggling to stay ahead of rising jet fuel costs.

The carrier was on track to emerge from bankruptcy protection this spring or summer.

The struggling carrier is facing an activist blockade at island airports.

The budget carrier recently disclosed more details of its restructuring plan.

United and American have each committed $100 million to recapitalize the airline.

The ultra-low-cost carrier laid out some broad next steps as it plans for the future.

The New York-based airline found its niche with long-haul destinations and specialized charters but was undone by an aging fleet and poor maintenance practices.

Some funding will be conditioned on the carrier’s progress in restructuring, or reaching a “strategic transaction.”

The struggling ultra-low-cost airline expects to save about $100 million per year through the contract modification.

The carrier cut about 150 positions this week as it continues restructuring.