Airline Finance News - North America.Robust forecasts need dose of skepticism, official says. Some experts say aviation is in a period of robust growth. Air Transport Association Executive Vice President John Meenan noted that forecasts, in general, should be taken with a grain of salt. Last year, the industry lost $10 billion. Mar 30, 2006 Airline bonds rally on strong demand for travel. Strong demand for travel is propelling the biggest rally for airline bonds in nine years. Analysts noted that airlines are leaving bankruptcy with less debt, which is also boosting the bond market. Mar 30, 2006 Airlines face many attempts to boost taxes. Governments see airlines as an easy target for raising revenue by taxation, 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. some experts. France may soon implement an airline tax to reduce poverty, for example. The International Chamber of Commerce has warned that increased taxation will hurt the economy and markets. Air Transport Association Chief Economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the John Heimlich says airlines have been pressured to pay higher taxes each year since 2001. Mar 27, 2006 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 American rehires Horton as chief financial officer. American Airlines has rehired Thomas W. Horton as its chief financial officer. Horton left American in 2002 to become financial chief and vice chairman at AT&T. Before the AT&T move, Horton had worked at American for 17 years, serving in a variety of roles. Mar 30, 2006 AMR (1) (Adaptive Multi-Rate) A variable rate speech codec selected by the 3GPP for the 3G evolution of the GSM cellphone system (WCDMA). Using the Algebraic CELP (ACELP) compression technology, AMR provides toll quality sound at transmission rates from 4.75 to 12. Corp., parent of American Airlines, reported in an SEC filing that it expects first-quarter consolidated unit revenue to increase 9.9%-10.9% over the year-ago quarter. Unit costs were 11.83 cents in February, or 8.57 cents excluding fuel. Quarterly 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 is expected to be 11.36 cents, or 8.13 cents excluding fuel. AA has hedged 32% of its first-quarter fuel consumption at $63 per barrel. Mar 30, 2006 AMR announced the return of Thomas Horton This article is about Thomas Horton, a 17th century English soldier. For Thomas Raymond Horton, a U.S. Representative from New York, see Thomas R. Horton. Thomas Horton , who will become CFO See Chief Financial Officer. and executive VP-finance and planning. Horton left AMR in June 2002 to join AT&T. He succeeds James Beer, who announced his resignation in February to take a job with a California software firm. AMR also announced the impending im·pend intr.v. im·pend·ed, im·pend·ing, im·pends 1. To be about to occur: Her retirement is impending. 2. retirement of Senior VP-Miami, Caribbean and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. Peter Dolara and American Beacon Advisors President William Quinn William Quinn could refer to:
sales manager n → directeur commercial sales manager sale n → C. David Cush as senior VP-global sales. VP and Controller Douglas Herring will succeed Quinn as ABA president and Quinn will remain as 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. and chairman. Isabella Goren was named senior VP-customer relationship marketing and reservations and MD-Airline Profitability and Financial Analysis Brian McMenamy was named VP and controller succeeding Herring. Mar 30, 2006 Delta Air Lines Delta Air Lines will cut approximately 1,000 management and administrative jobs, according to an internal memo released last week cited by press reports. Last fall the bankrupt carrier targeted 7,000-9,000 positions throughout the company for elimination by next year. Among the departures will be marketing head Paul Matsen. It is not clear if Matsen's departure is related to the cuts. Mar 31, 2006 Delta marketing chief leaves as carrier cuts costs. Delta Air Lines marketing chief Paul Matsen has left the carrier. Matsen helped launch the carrier's Simplifares program, which capped certain airfares. Delta said it will not replace Matsen. Separately, Delta on Wednesday said it will cut administrative and management employment by 20%. Mar 30, 2006 Delta Air Lines and its pilots, represented by the Air Line Pilots Assn., were told last week by a three-man 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. to continue negotiating ahead of an April 15 deadline and to submit confidential progress reports on April 3 and 7, according to press reports. Arbitrator Richard Bloch said a ruling by the panel would constitute "an abandonment of responsibility that will and should haunt all of you." Meantime, ALPA's Strike Preparedness Committee will conduct a practice strike tomorrow. The union said on its website that a strike authorization ballot is open until April 4. Mar 29, 2006 Delta announced Monday that it received approval from the lenders of its $1.9 billion DIP credit facility to reduce the interest rate on its three term loans, resulting in annual savings of $30 million and a reduction of the interest rate in its post-petition financing from American Express Travel Related Services. Mar 29, 2006 Delta, Northwest restructuring fees add up. Bankruptcy fees are mounting at Delta Air Lines and Northwest Airlines. The carriers could owe lawyers $276 million in fees and expenses by the time they exit bankruptcy. Mar 27, 2006 Hooters Air Hooters Air is going bust after chipping steadily away at its flight schedule over the past three months. It will end scheduled service by April 17, according to the Myrtle Beach Sun News. The airline is owned by Robert Brooks, chairman of Atlanta-based fast food chain Hooters of America
Hooters of America, Inc is a privately held U.S. corporation based in Atlanta, Georgia. . He launched Hooters Air in 2002 after acquiring Pace Airlines, a North Carolina-based charter carrier. Based at Myrtle Beach International Airport Myrtle Beach International Airport (IATA: MYR, ICAO: KMYR) is a public airport located 3 miles (5 km) southwest of the city of Myrtle Beach in Horry County, South Carolina, USA. , Hooters This article is about the two restaurant chains collectively using the shared Hooters brand. For other uses, see Hooters (disambiguation). Hooters is the trade name of two privately held American restaurant chains: Hooters of America, Inc based in Atlanta, Georgia, and was designed for leisure travelers. It eventually extended service to 15 destinations and operated up to seven aircraft. Pace Airlines will continue to provide charter service operations, a company spokesperson said. Hooters chairman Bob Brooks said he hoped to "have a little fun" in an industry that had always fascinated him. "The flying industry is in a terrible mess," Brooks said. "I've got a fair amount of money, but I don't have enough to fix this little lot!" http://www.hootersair.com Mar 30, 2006 Northwest Airlines Northwest hopes to operate new unit by June. Northwest Airlines hopes to operate a new regional jet unit, dubbed Compass Airlines, in June. In five years, the unit may fly up to 36 small jets, the company said in a filing with the Department of Transportation. Northwest, which operates under bankruptcy protection, said the unit is a vital part of its restructuring. Mar 30, 2006 Northwest hopes to avoid paying $130 million debt. Northwest Airlines sued the Metropolitan Airports Commission in an attempt to avoid paying on $130 million in revenue bonds. The airline claims the financing is borrowed funds and not a true lease. Separately, Northwest is planning a regional subsidiary, called Compass, to provide service with new two-class 76-seat regional jets between its Minneapolis/St. Paul and Washington Dulles hubs. Mar 29, 2006 United Airlines United to add 4,000 new jobs this year. United Airlines expects to add 4,000 jobs this year, after five years of labor force reductions. The airline attributed its hiring plans to strong demand and increased capacity. Mar 31, 2006 |
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