Airline Finance News - North America.FAA is projecting steady growth in the US airline industry over the next decade, topping out at 1 billion passengers in 2017. Last year a record 739 million passengers took to the skies, up from 690 million in 2004. Domestic enplanements are expected to grow 3.2% per year and international enplanements by an average of 5% annually for the remainder of the forecast period. Regionals and LCCs now account for 45% of the domestic market, up from 30% in 2000. Both Blakey and Transportation Secretary Norman Mineta said the nation's air traffic system must be modernized or it won't be able to handle the projected growth. They stressed the need for reform of the current Aviation Trust Fund because in the current low-fare environment, ticket taxes do not generate sufficient revenue to pay for the needed improvements. Mar 1, 2006 Bush proposes increase in airline fees. Although President George W. Bush said he is against raising taxes, he is willing to propose billions in new government fees, observers say. The 2007 budget proposal would impose fees on airlines and other industries. Air Transport Association 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. James May For the British body snatcher, James May, see . James Daniel May (born January 16th 1963 in Bristol, England) is a television presenter and award-winning journalist. opposes the fees and said aviation security should be treated as a part of national security. Mar 1, 2006 "Open skies  This article is written like a personal reflection or and may require .Please [ improve this article] by rewriting this article in an . " agreement may hinge on Verb 1. hinge on - be contingent on; "The outcomes rides on the results of the election"; "Your grade will depends on your homework" depend on, depend upon, devolve on, hinge upon, turn on, ride foreign-ownership rules. The "open skies" agreement reached last fall between the U.S. and the EU could fall through. The agreement says the U.S. must relax ownership rules that keep foreign investors from owning more than 25% of voting stock Voting stock The shares in a corporation that entitle the shareholder to vote. voting stock Stock for which the holder has the right to vote in the election of directors, in the appointment of auditors, or in other matters brought up at the in a U.S. carrier. Some lawmakers and labor unions labor union: see union, labor. oppose changing the restrictions. Feb 27, 2006 Aloha Airlines Aloha Airlines is an American airline headquartered in Honolulu, Hawaii USA. It operates extensive scheduled services within the Hawaiian Islands, and between Hawaii and the West Coast of the United States. Aloha Airlines, which emerged from a 13-month bankruptcy Feb. 17, reportedly is under investigation by US authorities for allegedly using employee pension funds to pay bank loans. US Labor Dept. has subpoenaed four banks for data on the defined benefit pension plan of Aloha's machinists union, the Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. reported. The airline's emergence from bankruptcy was delayed by negotiations with its unions and the Pension Benefit Guaranty As a verb, to agree to be responsible for the payment of another's debt or the performance of another's duty, liability, or obligation if that person does not perform as he or she is legally obligated to do; to assume the responsibility of a guarantor; to warrant. Corp. regarding pension termination. Feb 27, 2006 Delta Air Lines Arbitration ahead for Delta and its pilots. Delta Air Lines and its pilots, represented by the Air Line Pilots Assn., are heading to arbitration after the parties were unable to reach an agreement Wednesday evening on a concessionary accord to help the carrier emerge from Chapter 11 bankruptcy.The parties concluded an interim agreement in December that provided for a 14% hourly wage reduction and additional pilot concessions and gave the two sides until March 1 to negotiate a comprehensive deal or face a decision from a three-member neutral panel. Delta is seeking to cancel its labor agreement through Section 1113 of the US Bankruptcy Code Bankruptcy Code may refer to:
No agreement reached between Delta, pilots. Delta Air Lines and its pilots union are not expected to reach a contract agreement before today's deadline. If they do not reach an agreement, the dispute will go to arbitration. Delta says it must lower costs related to its pilots to emerge from bankruptcy protection. Mar 1, 2006 Delta, pilots may face arbitration in contract talks. Delta Air Lines' pilots say they may strike if their union does not reach a new contract agreement with the carrier. The issue will go to an arbitration panel arbitration panel A group of individuals charged with resolving a dispute between individuals and/or organizations. Arbitration panels to resolve investment disputes are sponsored by self-regulatory organizations such as NASD. Wednesday if the two sides do not reach a long-term agreement. The sides expect talks to continue after Wednesday. Separately, Delta said it has not canceled service to any markets from New York's LaGuardia Airport LaGuardia Airport (IATA: LGA, ICAO: KLGA, FAA LID: LGA) is an airport serving New York City, New York, United States, located on the waterfront of Flushing Bay, and borders the neighborhoods of Astoria, Jackson Heights and East Elmhurst in the borough . The airline last week accidentally transmitted an erroneous schedule. Feb 28, 2006 Northwest, Delta fail to reach deals with pilot unions. Pilots at Delta Air Lines and Northwest Airlines did not reach contract agreements with the airlines Wednesday. Delta and its pilots will now begin arbitration; a panel will review the company's proposal and make a ruling. Northwest will continue negotiations with its pilots union. 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 may soon rule on Northwest's request for pay and benefit cuts. Mar 2, 2006 Northwest Airlines Northwest pilots, management keep talking past court deadline. Northwest Airlines and its pilots continued to negotiate on a concessionary agreement yesterday even as a ruling by the bankruptcy court on the carrier's bid to impose a new contract was believed to be imminent. The parties originally had until Feb. 17 to reach an accord before Judge Allan Gropper was to have ruled on Northwest's request to cancel its labor agreements but were given an extension through March 1. Northwest's pilots, represented by the Air Line Pilots Assn., have voted overwhelmingly in favor of walking off their jobs if the carrier imposes a new contract, with 92% of pilots favoring a strike in a recent vote that attracted 4,413 of 4,851 eligible pilots. Mar 3, 2006 Northwest, pilots continue talks. Northwest Airlines continued negotiations with its pilots union Thursday. An airline spokesman said the two sides are making progress. The company says it must cut costs to emerge from bankruptcy protection. The deadline for the two sides to reach an agreement officially passed earlier this week. Mar 3, 2006 Northwest reaches agreement with attendants; pilot deal awaits. Northwest Airlines and its flight attendants, represented by the Professional Flight Attendants Assn., reached an eleventh-hour agreement on a new collective bargaining agreement The contractual agreement between an employer and a Labor Union that governs wages, hours, and working conditions for employees and which can be enforced against both the employer and the union for failure to comply with its terms. yesterday that, if ratified by union members, will result in the carrier achieving the $195 million in labor savings it sought from cabin staff when it entered bankruptcy. The bankruptcy court judge had been scheduled to rule on a request by 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 to reject the existing contract with the attendants. PFAA PFAA Professional Flight Attendants Association PFAA Participating Field Activity members have been working under an interim agreement providing the airline with $117 million in savings on an annual basis. Mar 2, 2006 Northwest reaches tentative pact with attendants: Northwest Airlines reached a tentative agreement with its flight attendants union Wednesday. The deal, which would save the carrier $195 million a year, still needs ratification from the rank-and-file. Mar 2, 2006 Northwest union authorized to call strike, judge to rule today. Northwest Airlines pilots have authorized their leaders to call a strike if contract talks break down. The union has said it may call for a strike if the airline gets court approval to void the pilots' contract. The judge is expected to rule today on Northwest's request to void the contract. Mar 1, 2006 Northwest backs off request for foreign attendants. A union representing Northwest Airlines' flight attendants said the carrier has backed off a demand to staff international flights mainly with foreign flight attendants. The union and the airline are in contract talks and are facing a Wednesday deadline. Feb 28, 2006 Northwest and unions go overtime. Northwest Airlines and the unions representing its pilots and flight attendants were granted a second extension, this time through March 1, by a US Bankruptcy Court judge Friday afternoon. The parties originally had until Feb. 17 to reach an accord before the court ruled on Northwest's request to cancel its labor agreements but were given an extension through yesterday. Negotiations continued last week, prompting Judge Allan Gropper to give the parties still more time. Feb 27, 2006 United Airlines United, engineers reach tentative pact. United Airlines has reached a tentative agreement with its engineers union. United's engineers are expected to vote on the agreement next week. If the agreement passes, the engineers will get raises for four years. Mar 3, 2006 United Airlines reached its first tentative agreement with the International Federation of Professionals and Technical Engineers covering wages, benefits and work rules. IFPTE IFPTE International Federation of Professional & Technical Engineers covers 282 engineering employees based primarily in Chicago, Indianapolis and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . The union's ratification process is expected to conclude March 8. Mar 2, 2006 United Airlines flight attendants, represented by the Assn. of Flight Attendants-CWA, granted their "last concession" and ratified a pension replacement plan Friday with an approval rating of 79%. The new defined contribution plan Defined contribution plan A pension plan whose sponsor is responsible only for making specified contributions into the plan on behalf of qualifying participants. Related: Defined benefit plan , effective from Jan. 1, 2006, is "significantly better than what United Airlines was originally willing to provide as a replacement to our terminated defined benefit pension plan," 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. the union. It includes company direct and matching contributions starting at 5% and escalating to 6% of employee earnings within two years. "This vote does not endorse the course of events that led to the termination. Now is the time to move forward and turn our attention to the opportunities and challenges that will surely demand our attention in the future," union leaders said in a letter on the 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. website. Feb 27, 2006 |
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