Monday, March 21, 2011

Braniff - July, 1988

It wouldn't be long after this timetable that Braniff II would file for bankruptcy. Having bought and expanded Florida Express, the airline had three hubs in Dallas-Ft. Worth, Kansas City, and Orlando.

In December 1988 and all through 1989, Braniff leased eleven more Boeing 737-200s from American Airlines (which they had received through the Air California merger), BIA-COR and Polaris V leasing. One 737, leased from American, was a 737-200A.

Florida Express ceased using the name Florida Express, and all assets became property of Braniff, Inc. Braniff announced acquisition of 28 jet parking positions at Kansas City.

In April, Braniff was flying to 40 locations, 39 domestic, one in the Bahamas. It had a fleet of 57 aircraft ( 24 B727-200s, 14 B737-200s and 18 BAC-111s)

Through the rest of the summer, Braniff went on a "loan spree" borrowing money from: Singer-link, Bank of America, Airbus Service Company, Inc., European American Bank, GPA Ireland and Columbia Savings and Loan. Chodorow and Cohen, allegedly, made off with this money sealing Braniff II's fate. The first Airbus A320 was delivered in July, 1989. N901BN would be only one of two A320's Braniff would fly. Braniff took delivery of four more A320s in September.

For the second time, Braniff filed for Chapter 11 on September 28th.

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