world airways
The business model was not the problem. World was bought by venture capitalists and they stole all the money from the company.
Before they bought it, world had over 80 million cash and was debt free. In less than three years the company was several hundred million in debt and zero cash in the bank.
As one of the pilots there I saw my career literally dissolve around me.
I am furloughed from there and fully expect to never go back. World will be lucky to survive. It has incredibly bad management there now and is a mere shell of the former company it was.
The pilots there were among the finest I ever met and flew with. Very professional, and very much concerned with each other's welfare. They truly cared for each other and I felt as if I was in a real family.
Sad story for another really good company........