German airline Germania declares bankruptcy and ceases operations, cancelling all flights immediately.
Hundreds of airline passengers are left stranded throughout Europe following British airline Flybmi's bankruptcy filing.
Aircel, India's fifth-largest wireless provider, declares bankruptcy.
The United Kingdom's Monarch Airlines goes into financial bankruptcy administration, suspending all flights, cancelling 300 thousand bookings, and leaving tens of thousands of passengers stranded.
Toys "R" Us files for Chapter 11 bankruptcy protection in the United States, and also files for bankruptcy in Canada, as it attempts to restructure its debts.