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777 Partners moves Chapter 11 case as airline bankruptcies mount in 2026
The Miami-based investment firm sought to shift an involuntary Chapter 7 liquidation from Florida to Texas to access more than $8.6 million in debtor-in-possession funding, while airline bankruptcies and shutdowns continue into 2026.
Yahoo Finance reports that airline bankruptcies have accelerated in the first half of 2026 amid rising jet fuel prices and other operating-cost pressures that have pushed several small and mid-size carriers into Chapter 7 filings or shutdowns.
The outlet highlights that Spirit Airlines collapsed in May 2026, while other cited shutdowns include Mexican holiday carrier Magnicharters and British cargo airline European Cargo. It also notes Flybondi is still operating but is under financial and operational strain after Brazil blocked it from selling tickets for flights into or out of the country due to elevated cancellation rates since the start of summer, with the carrier promising a restart of flights by mid-September amid bankruptcy rumors.
Separately, on July 16, 2026, Yahoo Finance says Miami-based investment firm 777 Partners filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Florida. The firm, founded in 2005, previously acquired European soccer clubs and later built stakes in low-cost airlines, including Bonza and Flair Airlines, both of which have filed for bankruptcy in the last two years.
According to the report, 777 Partners is pursuing Chapter 11 to eliminate more than $2 million in debt, and the company says it has won a bid to move an involuntary Chapter 7 liquidation initiation against it from Florida to Texas. The Miami judge cited Texas as the stronger administrative forum, and the firm described the shift as enabling access to more than $8.6 million in debtor-in-possession funds while halting a liquidation petition filed in Miami, though it still faces more than 23 bankruptcies from creditors.