Airline Investment Firm 777 Partners Refiles Bankruptcy Case to Texas
In August 2026, airline investment firm 777 Partners refiled its bankruptcy petition in the U.S. Bankruptcy Court for the Southern District of Texas after initially filing Chapter 11 proceedings in Florida on July 16, 2026. The move was granted by a Miami judge who cited that "Texas is the stronger administrative forum." This allows the firm to access over $8.6 million in debtor-in-possessor funds and temporarily halts liquidation efforts from creditors. 777 Partners has faced multiple financial challenges, including legal issues such as an ongoing Department of Justice investigation into money laundering. Co-founder Joshua Wander and CFO Damien Alfalla were charged with fraud involving over $500 million in October 2025. The firm had previously backed several airlines that later filed for bankruptcy or shut down, including Australian carrier Bonza and Canadian budget airline Flair Airlines. The broader aviation industry has seen a wave of bankruptcies due to rising jet fuel prices and operational costs. Other notable cases include Spirit Airlines in May 2026 and Mexican holiday carrier Magnicharters.
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Topics: airline industry bankruptcy filings investment firms