Australian airline in bankruptcy

Thursday, Sept. 13, 2001 | 9:52 a.m.

SYDNEY, Australia -- Ansett Airways, the only national competitor to Qantas, Australia's biggest airline, filed for the Australian equivalent of Chapter 11 bankruptcy protection on Wednesday as its financially troubled principal owner, Air New Zealand, searched with growing desperation for a buyer or new financing for it.

Ansett will continue to fly, at least for now, the company said.