Airline Finance News - North America.Oct 9, 2006 The Air Transport Association, the trade group representing major US airlines, said stormy weather in August also affected flight operations, including bag handling. However, the industry's on-time arrival rate -- which is influenced mainly by bad weather was higher after the security measures Noun 1. security measures - measures taken as a precaution against theft or espionage or sabotage etc.; "military security has been stepped up since the recent uprising" security were imposed than before, government figures showed. Megan McCarthy, a spokeswoman for United, said a sharp increase in checked luggage was seen across its network in August but United did not hire new workers in response. She said the airline shifted schedules and changed bag processing routines. Oct 5, 2006 Airline lower load factors could impinge on airlines' abilities to raise prices. Earlier this year, tight controls on capacity increases helped airlines raise fares to offset rising fuel costs. Fuel prices have since retreated, which should boost profitability at most carriers. Experts are generally upbeat on the earnings prospects for airlines in the third quarter. Calyon Securities analyst Ray Neidl said in a research note on Wednesday said he has lowered his estimates somewhat but expects the industry to earn 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. $1.5 billion in the third quarter. Neidl predicted industry earnings of USD$1.3 billion for 2006. Oct 4, 2006 US Airlines Saw Mostly Higher September Traffic. Some US airlines posted increases in year-on-year traffic in September, as a dip in air travel demand from tighter security measures implemented in August appeared short-lived. Of the major carriers that so far this week have reported their September traffic, United Airlines, Continental Airlines, and low-cost carrier A low-cost carrier or low-cost airline (also known as a no-frills or discount carrier / airline) is an airline that offers generally low fares in exchange for eliminating many traditional passenger services. Southwest Airlines This article is about the American airline. For the former Japanese airline, see Japan Transocean Air. For the British airline, see Air Southwest. Southwest Airlines Co. saw increases. Data show, however, that planes were a little less crowded in September 2006 than they were the year before. The increases in traffic are a clue that third-quarter airline earnings will be strong, said airline consultant Michael Boyd. The airline industry saw the early signs of rebound this year after suffering from overcapacity, low-fare competition and high fuel prices. Oct 4, 2006 IATA IATA International Air Transport Association, which sets the rules for air transport, including those concerning air transport of animals. reported that North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. carriers saw international RPKs rise 5.8% against a 5.9% boost in capacity, but still led all regions with a load factor of 82.7%. Oct 2, 2006 ACE Aviation ACE Aviation Chief Executive Robert Milton Robert Milton is the current Chairman, President and Chief Executive Officer of ACE Aviation Holdings Inc. (ACE), the parent company of Air Canada. said last summer the company intends to distribute up to CAD$2 billion of capital to shareholders over time in a process that will result in the spinoff of Canada's biggest airline. A Quebec court approved the shareholder vote in late August. It also intends to complete the distribution of units in Aeroplan Income Fund, which has a stake in the airline's frequent flier frequent flier n. One who travels often by air, especially on one airline. fre  quent-fli program. The ACPA ACPA American Chronic Pain AssociationACPA American College Personnel Association ACPA Anticybersquatting Consumer Protection Act ACPA American Concrete Pavement Association ACPA American Cleft Palate-Craniofacial Association ACPA American Concrete Pipe Association , representing 3,100 pilots that operate the airline's mainline fleet, said the move would leave Air Canada financially vulnerable during the industry's next downturn. The operating units of the former Air Canada, which also include the Jazz Air regional carrier, were transferred to ACE in the restructuring for too small a consideration and now executives are proposing to remove them from the parent altogether, he said. The vote will go ahead as planned while ACE's lawyers prepare a response to the claim, ACE Aviation spokesman Peter Fitzpatrick said. Oct 5, 2006 ACE Aviation ACE Aviation could launch an initial public offering of the Air Canada entity later this year, as well as ready an outright sale of the Air Canada Technical Services subsidiary said ACE Aviation Chief Executive Robert Milton. Oct 5, 2006 ACE Aviation ACE Aviation Shareholders Approve Pay-out Plan. Shareholders of ACE Aviation approved a plan on Thursday to pay out up to CAD$2 billion (USD$1.8 billion) of the company's capital, including a spin-out of key airline unit, Air Canada. Robert Milton, chairman, president and chief executive of ACE, said shareholders voted 95.5 percent in favor of distributing more units of Aeroplan Income Fund, its rewards program, and moving toward the initial public offering of a minority stake in Air Canada, its mainline carrier. The plan also envisages divesting ACE Aviation's technical services unit. Oct 5, 2006 ACE Aviation ACE Aviation's regional carrier Jazz, revenue passenger miles climbed 46 percent in September as capacity climbed 40 percent to 469 million available seat miles Available seat miles (ASM) is a measure of an airline flight's passenger carrying capacity. It is equal to the number of seats available multiplied by the number of miles flown. This measures an airlines capacity for transporting passengers. . The regional carrier flew 336 million RPMs in the month, up from a year-earlier 231 million. Year-to-date RPMs climbed 64 percent to 2,837 million. Jazz's monthly load factor climbed 2.6 percentage points in September to 71.6 percent and was 0.7 percentage points higher year to date at 72.2 percent Oct 5, 2006 Air Canada Air Canada the September load factor fell 0.7 percentage points from a year earlier to 79.7 percent as the carrier boosted capacity by half a percent. Year to date, Air Canada's load factor rose 0.9 percentage points to 81.8 percent. Oct 5, 2006 Air Canada Air Canada had a pension deficit of some CAD$1.4 billion (USD$1.24 billion) at the end of last year. Since Air Canada emerged from an 18 month bankruptcy restructuring at the end of September 2004 to become the main operating unit of ACE Aviation, the airline has been posting strong profits on improving passenger traffic volumes, despite adding capacity to its network. Oct 5, 2006 Air Canada Air Canada Pilots Sue To Block Distribution. Air Canada's pilots have asked a court to block the airline's parent from paying out CAD$2 billion (USD$1.8 billion) of capital to shareholders, saying the move would restrict Air Canada's ability to meet obligations to creditors. ACE shareholders are scheduled to vote on the distribution initiative in Montreal on Thursday. The pilots said they are creditors of the restructured carrier due to CAD$1 billion in pension obligations outstanding after its emergence from bankruptcy protection in late 2004. Those pension funds could be put at risk by the distribution, the association said. Oct 5, 2006 Air Canada Air Canada revenue passenger miles for the airline fell to 3,996 million, a drop of 0.4 percent from 4,014 million in September 2005. Capacity rose to 5,016 million available seat miles from 4,992 million a year earlier. Year-to-date, Air Canada's RPM rose 1.6 percent to 34,931 million. Oct 5, 2006 Air Canada The Air Canada Pilots Association (ACPA), which represents Air Canada's 3,100 pilots, said on Wednesday they had asked a court to block the pay-out, largely because they think it would restrict the airline's ability to meet obligations to creditors. An ACE Aviation spokeswoman said on Thursday the company would work toward achieving an outcome that is favorable to all stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. . The company intends to ask a Montreal court on Friday morning for a final order approving the plan of arrangement. If approved, the arrangement would become effective on October 13 and ACE hopes to distribute more Aeroplan units by the end of this year. At the ACE Aviation shareholder meeting, Yohan Cherrier, an Air Canada flight attendant, told Milton he opposed the pay-out, arguing that he has suffered losses in investment returns and revenue through Air Canada's 2004 bankruptcy restructuring. Oct 5, 2006 Alaska Air Group Alaska faces double-digit increases in unit costs. Alaska Air Group said yesterday in a filing to the US Securities and Exchange Commission that it expects a 38% year-over-year jump in third-quarter unit costs at Alaska Airlines Alaska Airlines, (NYSE: ALK) is an airline based in Seattle, Washington, United States. It operates hubs at Seattle-Tacoma International Airport, Ted Stevens Anchorage International Airport, Los Angeles International Airport, and Portland International Airport. and a 21% increase in CASM CASM Cost per Available Seat Mile CASM Communities and Small-scale Mining CASM Canadian Academy of Sports Medicine CASM Certificate of Advanced Study in Mathematics (Univeristy of Cambridge, UK) CASM Coherent Adaptive Subcarrier Modulation at Horizon Air due to rising fuel costs and special items. AAG AAG Association of American Geographers (Washington, DC) AAG Assistant Attorney General AAG Asociación Argentina de Golf AAG Anti-Aircraft Gun AAG Assistant Adjutant General AAG Australian Association of Gerontology said it expects to take a pre-tax third-quarter charge of $55-$60 million related to its decision to buy out five of nine long-term MD-80 leases and a $30 million charge related to a voluntary severance package A severance package is pay and benefits an employee receives when they leave employment at a company. In addition to the employee's remaining regular pay, it may include some of the following:
Alaska Airlines Alaska Airlines flew 1.4 billion RPMs in September, up 5.9% over the year-ago month. Capacity rose 4.2% to 1.91 billion ASMs and load factor improved 1.2 points to 73.6%. Horizon flew 218.6 million RPMs last month, an increase of 4.6%, against a 3.8% rise in ASMs to 301.6 million, lifting load factor 0.6 point to 72.5%. Oct 6, 2006 Alaska Airlines Alaska Airlines third-quarter CASM is expected to be 13.1 cents, or 7.4 cents excluding fuel and special items, a decrease of 2% from the year-ago quarter. Horizon's CASM should come in at 18 cents, or 13.9 cents excluding fuel and special items, an increase of 9%. Oct 6, 2006 Continental Airlines Continental Airlines estimated its consolidated September 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 4%-5% over the year-ago month as it reported a 7.2% year-over-year rise in August unit revenues. It flew 6.9 billion consolidated RPMs in September, up 11.5%. Capacity grew 9.9% to 8.83 billion ASMs and load factor rose 1.2 points to 78.2%. Domestic RPMs climbed 10% to 3.3 billion against a 7.1% hike in ASMs to 4.06 billion, lifting load factor 2.1 points to 81.2%. International traffic was up 11.6% to 2.81 billion RPMs, capacity rose 11.2% to 3.72 billion ASMs and load factor increased 0.3 point to 75.7%. Oct 5, 2006 Continental Airlines Continental Hopes Security Changes Help Bookings. Continental Airlines is seeing weakness in bookings but hopes a recent relaxation of stiff security measures will help, chief executive Larry Kellner Lawrence W. "Larry" Kellner (born 1959) has been CEO of Continental Airlines since December 2004, when former CEO Gordon Bethune retired. He previously served as a vice president, chief financial officer and chief operations officer for the airline[1]. said on Monday. The United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. imposed a series of new security measures after British authorities said in August they had foiled a plot to bomb US-bound flights. Those measures were modified last week, however, as the ban on liquids and gels in carry-on bags was partially eased.. Oct 2, 2006 Delta Air Lines Delta, Retirees Reach Deal On Benefits. Delta Air Lines said on Thursday it reached agreements with retirees on medical benefits that would save the bankrupt carrier about USD$50 million annually and bring it closer to its cost cutting goals. The agreement clears another key hurdle for Atlanta-based Delta, which filed for bankruptcy protection in September 2005, and brings it closer to its plan to exit Chapter 11 next year. The airline reached agreements on benefit cuts with both its court-appointed pilot and non-pilot retiree committees, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. court documents. Delta has about 32,000 pilot and non-pilot retirees and survivors. In a separate statement, the non-pilot retiree committee said the deal preserves some key benefits. Oct 5, 2006 Delta Air Lines Delta Air Lines said it lost $11 million in August, which compared to a loss of $158 million in August 2005. The information was contained in its monthly operating report to the 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. . It said mainline nonfuel CASM was 6.66 cents, down 7.6% from August 2005, while consolidated passenger RASM climbed 12.8% to 10.64 cents. At the end of the month it had $3.9 billion in cash, of which $3 billion was unrestricted. Executive VP and CFO See Chief Financial Officer. Edward Bastian called the results encouraging and said the carrier "is on track with our restructuring plan." Oct 2, 2006 JetBlue Airways For the Jet Blue database used in Exchange Server and Active Directory, see Extensible Storage Engine. JetBlue Airways is a major American low-cost airline owned by JetBlue Airways Corporation (NASDAQ: JBLU). , United Airlines United Objects To JetBlue's O'Hare Plans. Discount carrier JetBlue Airways faces opposition from United Airlines in its efforts to gain landing rights to Chicago's congested con·gest·ed adj. Affected with or characterized by congestion. congested ENT adjective Referring to a boggy blood-filled tissue. See Nasal congestion. O'Hare International Airport O'Hare International Airport is an airport located in Chicago, Illinois, United States, 17 miles (27 km) northwest of the Chicago Loop. It is the largest hub of United Airlines (whose headquarters is in downtown Chicago) and the second-largest hub of American Airlines (after . United argues that JetBlue's request, which was filed with the Federal Aviation Administration Federal Aviation Administration (FAA), component of the U.S. Department of Transportation that sets standards for the air-worthiness of all civilian aircraft, inspects and licenses them, and regulates civilian and military air traffic through its air traffic control last week, doesn't follow proper procedures and should be denied, according to a filing on Wednesday with the FAA. New York-based JetBlue doesn't currently serve the Chicago area, but is keen to start up service to the United and American Airlines American Airlines Major U.S. airline. American was created through a merger of several smaller U.S. airlines and incorporated in 1934. It continued to buy the routes of other airlines, becoming an international carrier in the 1970s; its routes include South America, the hub. The traffic at O'Hare is closely regulated, and few low-cost carriers have service there. Oct 5, 2006 Mesaba Airlines Mesaba Airlines is an American regional airline based in Eagan, Minnesota. The airline operates under Mesaba Aviation, Inc. a wholly owned subsidiary of Northwest Airlines. All of its flights are operated under the name Northwest Airlink for Northwest Airlines. In July, a US Bankruptcy Court judge granted Mesaba authority to reject its labor contracts in an effort to reduce costs. That ruling was overturned on appeal last month when a US District Court judge ruled that the airline failed to negotiate wage restoration provisions and did not demonstrate that its cost-cutting proposals were spread equitably throughout the organization. Costello said the company filed a motion this week asking the court to prevent a strike if negotiations fail and labor contracts are rejected. Unions have said they intend to strike as a last resort. Oct 4, 2006 Mesaba Airlines Mesaba Airlines employees said they have a plan that will save the bankrupt carrier. The Mesaba Labor Coalition, representing pilots, flight attendants and mechanics, is proposing a concessions package it believes will cut labor costs by 15% over the next three years. Mesaba spokesperson Elizabeth Costello Elizabeth Costello is a 2003 novel by South African Nobel Laureate J. M. Coetzee. In this novel, Elizabeth Costello, an aging Australian writer, travels around the world and gives lectures on topics including the lives of animals and literary censorship. said that the proposal has not been presented to airline management and added that the carrier will be back in court next week to find out whether it will be allowed to impose new pay and pension rules. Oct 4, 2006 Northwest Airlines 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 projects 'modest profit' for full year excluding restructuring costs. Bankrupt Northwest Airlines said yesterday that it anticipates recording a loss for September through December due to a "softening in revenue" and will earn a "modest profit" for full-year 2006 excluding reorganization items on more than $12 billion in revenues. The carrier previously reported a $50 million profit, excluding restructuring costs, for the first six months of 2006. Oct 3, 2006 US Airways US Airways named Scott Kirby, 39, to the position of president effective Oct. 1. Kirby, an 11-year veteran of America West, which acquired and merged with US Airways last year, was executive VP-sales and marketing. He will continue to report to Chairman 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 Parker
William Douglas Parker is the current chairman and chief executive officer of US Airways. . The carrier also promoted Ed Bular to senior VP-flight operations/inflight. Bular joined the US Airways side of the family in 1980, three years before America West came into existence. Oct 2, 2006 Editor: Aram Gesar, eMail: edit@AirGuideOnline.com For more global news, reviews, features and analysis, please go to: http://www.airguideonline.com/onlinenews.htm To Subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com Oct 2, 2006 |
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