Braniff Hires Adviser to Explore Sale: Financially...

Braniff Hires Adviser to Explore Sale: Financially troubled Braniff Inc. said it has hired Merrill Lynch to explore the possible sale of the airline. A Merrill Lynch team will work full time with Braniff to seek the best plan for the airline and its creditors, said Mark J. Schulte, managing director of Merrill Lynch Capital Markets. In late September, Braniff filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code.