Ansett Australia

Ansett Australia's 2001 collapse grounded Australia's second-largest airline overnight, stranding 110,000 passengers. The airline had been Australia's premium carrier for 65 years but suffered from chronic underinvestment under News Corporation and then Air New Zealand ownership. When maintenance issues grounded part of the fleet in September 2001 - just as September 11 devastated global aviation - Ansett couldn't recover. The company exemplified how parent company neglect can destroy valuable subsidiaries: Air New Zealand extracted value while deferring essential maintenance.