Bankruptcy as It Relates to Business Law

The Airline Consumer Protection Act of 2005 is to require air carriers to honor tickets for bankrupt air service. In General- Each air carrier that provides scheduled air transportation on a route shall provide, to the extent practicable, air transportation to passengers ticketed for air transportation on that route by any other air carrier that suspends, interrupts, or discontinues air passenger service on the route by reason of insolvency or bankruptcy of the other air carrier.
Passenger Obligation states an air carrier is not required to provide air transportation under subsection to a passenger unless that passenger makes alternative arrangements with the air carrier for such transportation within 60 days after the date on which that passenger's air transportation was suspended, interrupted, or discontinued (without regard to the originally scheduled travel date on the ticket).
…