With the oil crisis caused by the U.S. strike on Iran now in its third month, the string of smaller and mid-size airlines filing for bankruptcy protection has already begun.
The most high-profile collapse occurred when, at the start of May, low-cost airline Spirit Airlines definitively shut down all operations after earlier efforts to exit two past bankruptcies.
In other parts of the world, low-cost holiday carrier Magnicharters filed for bankruptcy protection in Mexico City approximately a month after suspending all flights for what it initially hoped would be a period of two weeks.
In China, northwestern regional carrier Joy Air filed for bankruptcy protection and entered the early stage of the restructuring process at…