Airline Finance News - North America.For more airline finance news, data and analysis, please go to: http://www.airguideonline.com/professional.htm Aug 21, 2006 US President George Bush, as expected, signed comprehensive pension reform legislation into law yesterday, completing a system overhaul that is expected to save the defined retirement programs of airlines and other companies. The new law gives US carriers that have frozen their plans, such as Northwest Airlines and Delta Air Lines, 17 years from 2008 to fund their plans fully. Others get 10 years. Bush said companies that have pension programs "have a duty to set aside enough money now so your workers will get what they've been promised when they retire." Aug 18, 2006 US Dept. of Transportation delayed indefinitely its proposed rule intended to ease foreign control restrictions on domestic airlines, a move it had hoped would facilitate an open skies agreement The Open Skies Agreement is a recently negotiated treaty between the United States and the European Union. The agreement will allow any European or U.S. airline to fly any route between any city in the EU and any city in the United States. with the EU. Congress passed amendments this summer prohibiting DOT from spending money on the effort for one year. Rep. Jerry Costello Jerry Francis Costello (born September 25 1949), American politician, has been a Democratic member of the United States House of Representatives since 1988, representing Illinois's At-large congressional district (map). He was born in East St. (D-Ill.), ranking member In United States politics, the ranking member or ranking minority member is a member of a congressional committee from the minority party, frequently the member with the highest seniority. on the House aviation subcommittee, said DOT made a "wise decision" and encouraged it "to scrap the rule altogether." The department originally planned to issue a final rule this month, setting the stage for an October accord. Aug 17, 2006 Small strategies help carriers post profits. Carrier alliances, fewer flights and lower labor costs have helped some U.S. airlines return to profitability. Some analysts expect the recovery to continue into next year but note high fuel costs will continue to threaten airlines' bottom line. Aug 14, 2006 Delta Air Lines Judge approves Delta's plan to buy New York-London route. A bankruptcy judge has approved Delta Air Lines' plan to buy from United Airlines the right to operate nonstop service between New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and London. The deal still needs approval from the Department of Transportation. Aug 17, 2006 Delta Air Lines, Comair Delta Air Lines's Comair To Meet Flight Attendants. Comair, a unit of Delta Air Lines, is to meet its flight attendants on August 23-24 in a bid to resolve a dispute over cost cuts and has reopened negotiations with pilots and maintenance workers. Aug 17, 2006 ExpressJet ExpressJet flew 976.5 million RPMs in July, a 13.3% increase over the year-ago month. Capacity rose 10.6% to 1.21 billion ASMs and load factor improved 1.9 points to 80.6%. Aug 18, 2006 Hawaiian Airlines Hawaiian Airlines is the 11th largest commercial airline in the United States. It is the largest airline based in the State of Hawai'i and is commonly referred to by the acronym "HAL". Hawaiian Airlines flew 623.9 million RPMs in July, a 0.5% drop from the year-ago month. Capacity inched up 0.1% to 698.0 million ASMs and load factor fell 0.5 point to 89.3%. Aug 17, 2006 Northwest Airlines Northwest Airlines could be in serious trouble from August 25. Already trading in bankruptcy, a US judge has confirmed that he lacked the power to block a threatened strike by flight attendants who oppose a new contract designed to reduce costs. Members of the flight attendants' union have twice rejected agreements negotiated by union leaders. After the second rejection, Northwest, acting on another court authority unilaterally imposed new terms See suggestions for new terms. . Travelers to Detroit and Minneapolis from Gatwick should be aware of possible disruptions. NWA NWA Northwest Airlines (ICAO code) NWA Northwest Arkansas NWA National Wrestling Alliance NWA National Weather Association NWA National Works Agency (Jamaica) NWA Network Analyzer is still the fifth largest US carrier, and is also a member of Skyteam. Not withstanding these problems the airline has applied for Detroit - Shanghai route rights and plans to start a daily Boeing 747 service next March. http://www.nwa.com Aug 19, 2006 Northwest Airlines Northwest Airlines flight attendants, represented by the Assn. of Flight Attendants-CWA, will not be prevented from striking by the US 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. , which yesterday denied a preliminary injunction A temporary order made by a court at the request of one party that prevents the other party from pursuing a particular course of conduct until the conclusion of a trial on the merits. A preliminary injunction is regarded as extraordinary relief. request from NWA. The union said it could exercise its right to strike as early as the evening of Aug. 25. "While we are disappointed with Judge Gropper's ruling and will appeal it, we remain committed to continuing to serve our customers," NWA President and 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. Doug Steenland said. The airline added that it "has a range of contingency options to respond to any AFA AFA In currencies, this is the abbreviation for the Afghanistan Afghani. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. work disruption and it will take all necessary actions to continue to operate its normal flight schedule." Both parties said they were interested in continued negotiations, but AFA Interim Master Executive Council President Mollie mollie or molly, New World fish of the genus Mollienesia, in the same family as the guppy (see killifish). Mollies are found from the E and central United States to Argentina. Reiley warned that NWA management "needs to reduce their demands and do it in a hurry." The airline wants $195 million in annual concessions from its cabin staff. Aug 18, 2006 Northwest Airlines Court Can't Block Northwest Attendant Strike. A US judge on Thursday said he lacked the jurisdiction to block a strike by flight attendants at bankrupt Northwest Airlines, a move that clears the way for a work stoppage as early as August 25. Aug 17, 2006 Northwest Airlines Northwest Airlines flight attendants announced Friday that the deadline for commencement of targeted unannounced work actions against the carrier was extended to Aug. 25 from Aug. 15 as a result of last week's terrorist threat. "In order to devote our full attention to the immediate security situation and to reduce the stress level for flight attendants until the initial reaction of the security news subsides, we have decided to extend our strike deadline by 10 days," Assn. of Flight Attendants-CWA Interim Master Executive Council President Mollie Reiley said. The union set the Aug. 15 deadline following its rejection of a second tentative labor agreement. Aug 14, 2006 Northwest Airlines Northwest Airlines said Friday that its operations had "significantly improved" from the day before. It did not have cancellations either day and was "urging customers to check all of their luggage for greater convenience and in an effort to minimize delays." It resumed carriage of unaccompanied un·ac·com·pa·nied adj. 1. Going or acting without companions or a companion: unaccompanied children on a flight. 2. Music Performed or scored without accompaniment. minors and pets that was suspended on Aug. 10. Aug 14, 2006 Pan American Airways Pan Am Creditors To Get USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $30 Mln In Libya Settlement. The court-appointed trust for Pan Am World Airways World Airways is an American non-scheduled airline currently headquartered in Peachtree City, Georgia. History Though World Airways was founded in 1948 by Benjamin Pepper, Edward Daly is thought of as World's founder. , which ceased operations in 1991, on Wednesday said some of the airline's creditors, including more than 15,000 former employees, will receive about USD$30 million by the end of the year. Aug 17, 2006 United Airlines United Airlines flew 11.07 billion system RPMs in July, a 3.4% increase over the year-ago month. Capacity rose 1.9% to 12.62 billion ASMs, lifting load factor 1.3 points to 87.7%. Aug 14, 2006 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. flew 6.08 billion consolidated RPMs in July, a 6% decline from the year-ago month. Capacity fell 7.8% to 7.27 billion ASMs and load factor rose 1.5 points to 83.5%. Domestic RPMs decreased 7.6% to 4.85 billion against a 10% decline in capacity to 5.78 billion ASMs. International traffic rose 0.7% to 1.23 billion RPMs and capacity increased 1.9% to 1.49 billion ASMs. Aug 17, 2006 US Airways CEO tests ground for mergers. US Airways Chief Executive Doug Parker
William Douglas Parker is the current chairman and chief executive officer of US Airways. this summer asked Delta Air Lines Chief Executive Gerald Grinstein if he was interested in discussing a merger of the two carriers, according to media reports. Grinstein said he wasn't interested in starting merger talks because Delta plans to exit bankruptcy next spring as a stand-alone carrier. Aug 14, 2006 US Airways moves forward by embracing past. US Airways has successfully boosted revenue and integrated its operations and corporate culture after merging with 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 . The company is embracing the culture of its predecessor companies by painting some planes in their colors. The company is led by Doug Parker, but former Chief Executives David Siegel and Bruce Lakefield helped the company shed costs and become more efficient. Aug 14, 2006 Zoom Airlines Zoom Airlines last week signed a five-year, [euro]5 million ($6.4 million) contract with KLM KLM Kaiserliche Marine (Enigma: Rising Tide game) KLM Koninklijke Luchtvaart Maatschappij (Royal Dutch Airlines) KLM Klub Langer Menschen (German: Tall Person Club) Engineering and Maintenance for the performance of C checks on its 767s. The Canadian carrier has four 767s with two more scheduled for delivery next year. Aug 14, 2006 |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion