Here is a small example:
UPS bought Emery (Menlo)and Challenge Air Cargo. I wonder what happened to those carriers.
M
Both examples have nothing even remotely similar to this one. Emery (Menlo) did not operate an airline they used all contract when UPS bought them and the deal with Challenge was strictly for the assets not including the airplanes. GK has publicly stated on several occasions that the employees come with this deal.