Airline Finance News - North America.For more airline finance data and analysis, please go to: http://www.airguideonline.com/professional.htm ABX Air ABX Air (NASDAQ: ABXA) is a cargo airline based in Wilmington, Ohio, USA. It operates scheduled, ad hoc charter and ACMI freight services, including overnight express small-package services and freight in the USA, Canada and Puerto Rico. ABX Air posts higher Q1 profit. ABX ABX Antibiotics ABX Airborne Express ABX Abstracting ABX Albury, New South Wales, Australia - Albury (Airport Code) ABX Automatic Branch Exchange ABx Non-Antibiotics ABX Asset Backed Securities Index ABX Acoustic Bass Extension Air's first-quarter profits rose 14.3% to $8.1 million, reflecting lower costs and higher productivity at the company. Revenue rose 6.5% to $369.2 million, rebounding from a difficult 2005 that saw profits drop as primary customer DHL DHL abbr. 1. Doctor of Hebrew Letters 2. Doctor of Hebrew Literature Worldwide Express struggled to compete against FedEx and UPS in the US market. May 10, 2006 Air Canada Air Canada parent reports first-quarter profit driven by Jazz IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. . Largely driven by proceeds from the partial sale of Regional subsidiary Jazz, Air Canada parent ACE Aviation Holdings ACE Aviation Holdings Inc. TSX: ACE.B is a Canadian holding company that provides commercial airline service and technical support and is the parent company of Air Canada. posted first-quarter net income of C$118 million ($107.3 million), a figure that represented a vast improvement over a C$77 million loss in the year-ago quarter and overshadowed a C$29 million operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. . May 12, 2006 AirTran Airways AirTran Airways is a low-cost airline that is a Delaware corporation with headquarters in Orlando, Florida, USA and is a subsidiary of AirTran Holdings. AirTran operates over 750 daily flights throughout the eastern USA and the Midwest, including over 270 daily departures from AirTran Airways yesterday resumed negotiations with its 1,400 pilots, represented by the National Pilots Assn. Talks in Orlando are aimed at renewing a labor contract that became amendable in April 2005. This week's talks are scheduled to run through Thursday and another round of negotiations is slated for May 30-31 in Baltimore. May 10, 2006 AirTran, pilots return to talks. AirTran Airways has returned to contract negotiations with its pilots union. A mediator will help the company and the union negotiate. May 10, 2006 Alaska Air Alaska Air "turns the corner," CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. says. Alaska Air Chairman and Chief Executive Bill Ayer Bill S. Ayer, 52, is chairman, president and chief executive officer of Alaska Airlines and Alaska Air Group which is the parent company of Alaska Airlines and its sister carrier Horizon Air. said his company is meeting or surpassing its goals for on-time performance and reliability. A slight increase in wages and an extra baggage carousel A baggage carousel is a device, generally at an airport, that delivers checked luggage to the passengers at the baggage claim area at their final destination. Not all airports use these devices. have helped improve ramp service, he said. May 12, 2006 American Airlines American Airlines Chairman and CEO Gerard Arpey said the carrier needs at least $1 billion in additional annual savings to keep pace with rivals restructuring through bankruptcy and "just to keep even with our costs last year," and has evaluated replacing the JT8D-200 engines on its MD-80 fleet to save fuel. Speaking at the Bear Stearns Global Transportation Conference, available via webcast, Arpey said rivals United Airlines, Northwest Airlines, Delta Air Lines and US Airways "leveraged marketplace failure to reduce their costs." As a result, billions in annual savings achieved by AA in recent years are not sufficient. "We now find ourselves with relatively high costs among our peers. Each additional dollar of savings becomes harder to come by but we are looking under every rock." May 11, 2006 American's first-quarter operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. increased 10.6% to $5.23 billion, driven by a 34.3% hike in fuel costs. Arpey said the "enormous fuel burden" is taking a toll. "The airline industry is going to have to figure out how to take that cost and get somebody else to pay for it or we're not going to be in business." AA is exploring replacing engines on its MD-80s with more fuel-efficient models. "The MD-80 is [powered by] Pratt & Whitney engines and they do burn more fuel than current-generation engines...We have not been able to come up with an engine replacement that makes both technical and economic sense as we stand here now." AA's MD-80 fleet totals 361 aircraft of which 34 are in storage, according to Airclaims. May 11, 2006 Comair Comair asks judge to reconsider contract ruling: Comair wants a bankruptcy judge to reconsider a decision that keeps the carrier's contract with its flight attendants intact. Comair, a unit of bankrupt Delta Air Lines, says it must reduce attendants' pay to successfully restructure. May 10, 2006 Continental Airlines Continental Airlines and the Air Line Pilots Assn. issued statements Thursday protesting the US Dept. of Transportation's revised Notice of Proposed Rulemaking A notice of proposed rulemaking or NPRM is issued by law when a regulatory agency of the United States Federal Government wishes to add, remove, or change a rule (or regulation) as part of the rulemaking process. Outside the USA. issued Wednesday that clarified its position on foreign control of US airlines. Continental, which opposed the original NPRM (Notice of Proposed Rule Making) An announcement by an agency of the U.S. government that proposes a change in regulations. It is followed up by a final ruling. issued last fall, said DOT "abdicated its responsibility," that the plan "failed to resolve the significant legal and policy concerns raised by Congress, industry and labor," and that it "makes it clear that foreign investors will be allowed to control all significant decisions at a US air carrier and highlights the unworkable nature of bifurcating control of a corporation." ALPA ALPA abbr. Air Line Pilots Association President Duane Woerth called on DOT to "halt this misguided effort and let Congress act [because] erecting a firewall around safety and security operations within the corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. of a US airline is simply not possible" and because "the dominant investor wields the power...no matter what the fine print of federal regulations may say." May 8, 2006 Delta Air Lines Delta reports large Q1 loss. Delta Air Lines reported a first-quarter loss of $2.1 billion, including restructuring costs. Excluding restructuring costs, the carrier lost $356 million. Chief Executive Gerald Grinstein said the results were in line with expectations. May 12, 2006 Delta CEO expects more consolidation. Delta Air Lines CEO Gerald Grinstein expects more consolidation in the airline industry. Grinstein, speaking to tourism professionals Monday, also said the U.S. should reform airport security procedures. May 10, 2006 ExpressJet Holdings ExpressJet Holdings, Regional partner of Continental Airlines, reported first-quarter net income of $23.8 million, 2% above earnings of $23.3 million in the year-ago quarter. ExpressJet cited rising demand as a key factor behind its 20th consecutive profitable quarter. The Houston-based carrier reported a 7.7% rise in revenues to $404.2 million while operating expenses increased 9% to $366.8 million, producing operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. of $37.3 million, down 3.9% from the year-ago quarter. May 12, 2006 Frontier Airlines Frontier Airlines said its April RASM RASM Revenue per Available Seat Mile RASM Reliability, Availability, Scalability and Manageability (Red Hat, Inc.) RASM Rear Admiral Submarines (UK) RASM Recorded Announcement Systems Manager increased 6.8% to 8.27 cents as yield climbed 1.1% to 10.25 cents and traffic grew 27% to 707.7 million RPMs. Capacity increased 20.1% to 877.4 million ASMs and load factor rose 4.4 points to an April record 80.7%. May 10, 2006 Hawaiian Airlines Hawaiian Airlines parent posts Q1 loss. Hawaiian Airlines parent Hawaiian Holdings reported a loss of $12.3 million for the first quarter. The company said increased competition and the high cost of jet fuel hurt results. May 10, 2006 Hawaiian posts $12.3 million first-quarter loss. Hawaiian Holdings, parent of Hawaiian Airlines, reported that its net loss for the first quarter ended March 31 widened to $12.3 million from $2.1 million in the year-ago period. May 9, 2006 Mesaba Airlines Mesaba Airlines mechanics, represented by the Aircraft Mechanics Fraternal Assn., followed the lead of the carrier's pilots union by setting up strike headquarters. Union groups representing pilots, mechanics and flight attendants are at an impasse with the carrier over its effort to cancel labor contracts. A bankruptcy court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. judge is scheduled to rule May 11. "If the judge implements the agreement, all three unions are prepared to walk together," Mike Klem, VP of AMFA AMFA Aircraft Mechanics Fraternal Association AMFA Alternative Motor Fuels Act (PL 100-494) AMFA Asociación Movimiento Fe y AlegrÃa (Association for Activities of Faith and Joy; Guatemala) Local 33, said. "They feel that with the wages the judge will impose, they can't afford to work there. A lot of people are leaving before it happens." Mesaba, which filed for bankruptcy in February, operates as a Northwest Airlink partner. May 9, 2006 Midwest Air Midwest Air Group Midwest Air Group, Inc. AMEX: MEH is an airline holding company based in Oak Creek, Wisconsin now controlled by parent company, TPG Capital Texas Pacific Group. Northwest Airlines Inc,. , parent of Midwest Airlines and Midwest Connect, flew 352.2 million RPMs in April, a 39.6% increase over the year-ago month. Capacity rose 26% to 435.37 million ASMs and load factor climbed 8.3 points to 82.6% May 10, 2006 Northwest Airlines Northwest reduces first-quarter loss ex-bankruptcy costs. Bankruptcy-related charges totaling $975 million propelled Northwest Airlines to a net loss of $1.1 billion for the first quarter of 2006 from a loss of $537 million in the year-ago period. May 11, 2006 Northwest Airlines Northwest attendants to vote on new union. The National Mediation Board The National Mediation Board is a three-person board created in 1934 by an act amending the Railway Labor Act (45 U.S.C.A. §§ 151–158, 160–162, 1181–1188) to resolve disputes in the railroad and airline industries that could disrupt travel or imperil the authorized an election that will allow Northwest Airlines' flight attendants to decide if they want to change unions. No date has been set yet for the vote. May 10, 2006 Northwest, baggage handlers return to talks. Northwest Airlines and the union representing its baggage handlers returned to contract negotiations Monday. On May 15, a bankruptcy court will decide whether the company can void the workers' contract. May 9, 2006 Northwest Airlines flew 6.04 billion RPMs in April, a 4.6% decline from the year-ago month. Capacity fell 8.8% to 7.12 billion ASMs, lifting load factor 3.7 points to 84.9%. Domestic traffic dropped 5.7% to 3.58 billion RPMs as capacity decreased 12% to 4.25 billion ASMs, sending load factor up 5.6 points to 84.3%. International RPMs lowered 3% to 2.46 billion while capacity fell 3.8% to 2.87 billion ASMs. Load factor inched up 0.7 point to 85.9%. May 8, 2006 United Airlines United may move headquarters from Chicago suburbs. United Airlines wants to consolidate its facilities and is considering moving its headquarters out of the Chicago suburbs. The company is considering relocating to downtown Chicago or to Denver, where it operates a hub. May 11, 2006 United hopes to shed $300M in costs this year. United Airlines plans to cut $300 million in nonfuel expenses this year, Chairman and Chief Executive Glenn Tilton said. In 2007, the carrier will shed $400 million in costs, he said. May 9, 2006 UAL UAL United Airlines (ICAO code) UAL Unified Accelerator Library (Brookhaven National Laboratory) UAL User Account Lockdown UAL User Access Layer UAL Universal Auxiliary Language UAL User Agent Layer posts wider Q1 loss. United Airlines parent UAL reported a first-quarter loss of $306 million, compared with a year-earlier loss of $302 million, excluding reorganization items. The company posted a 14% revenue increase and said it would continue to cut costs. May 8, 2006 United Airlines flew 9.81 billion RPMs in April, an 8.4% rise over the year-ago month. Capacity grew 4.9% to 11.86 billion ASMs, lifting load factor 2.7 points to an April-record 82.8%. May 8, 2006 US Airways US Airways, in a sense the Phoenix from the ashes of the old US Airways, and now controlled by America West Airlines America West Airlines was one of the United States' ten major airlines. The airline was based in Tempe, Arizona, and is now a part of US Airways Group. At the time of its integration into US Airways, the airline maintained two hubs, one at Phoenix Sky Harbor International , reported a first-quarter profit of $64m compared to a profit of $28m for America West for the same period last year and says it now expects to be in the black for the full year after accounting for merger-related expenses and continued high fuel costs. Whilst there have been cutbacks across the US Airways network this has not affected the UK operation. The airline continues with its services from Gatwick, Glasgow and Manchester. http://www.usairways.com May 14, 2006 International Assn. of Machinists and Transport Workers Union Transport Workers Union may refer to:
["IAM, A System for Interactive Algebraic Manipulation", C. Christensen et al, Proc Second Symp Symb Alg Manip, ACM Mar 1971]. has represented fleet service workers at US since 1994, while TWU TWU Texas Woman's University TWU Transport Workers Union TWU Trinity Western University TWU Two Worlds United TWU Texas Wesleyan University TWU Transport Workers Union of America TWU Telecommunications Workers Union has represented America West Airlines employees since 1999. Representatives from the unions will work alongside each other in negotiations with US on a transition agreement to cover all affected employees at the merged airline. TWU withdrew its application with the National Mediation Board seeking to represent the merged workforce exclusively. May 11, 2006 US Airways posts first-quarter profit, raises earnings outlook for year. Touting synergies created by the merger of America West Airlines and the former US Airways, US Airways Group US Airways Group Inc. NYSE: LCC is the Tempe, Arizona-based airline holding company that operates US Airways, US Airways Express and America West Airlines. It also operates additional companies that provide associated services. reported a first-quarter profit of $64 million compared to a profit of $28 million for America West in the year-ago quarter and said it now expects to be profitable for the full year, "even after accounting for merger-related expenses and continued high fuel costs." May 10, 2006 US Airways Group reported a 6.8% decline in consolidated April traffic to 5.45 billion RPMs. Capacity dropped 12.4% to 6.65 billion ASMs and load factor rose 4.9 points to 82%. May 9, 2006 US Airways posts Q1 profit. Fare increases and a reduction in capacity helped US Airways post a first-quarter profit of $5 million, excluding special items. The company expects to report a profit for all of 2006, Chief Executive Doug Parker said. May 9, 2006 |
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