Airline Finance News - North America.For more airline finance data and analysis, please go to: http://www.airguideonline.com/professional.htm May 22, 2006 Air Canada Air Canada reported a 6.4% rise in consolidated traffic in April to 3.77 billion RPMs. Capacity increased 4.7% to 4.63 billion ASMs and load factor gained 1.2 points to 81.2%. Domestic RPMs grew 3.1% to 1.16 billion, capacity lifted 6.9% to 1.48 billion ASMs and load factor dropped 2.9 points to 78%. International RPMs rose 4.4% to 1.91 billion against a 1.5% increase in capacity to 2.27 billion ASMs, boosting load factor 2.3 points to 84.1%. May 17, 2006 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. Alaska Airlines became the first carrier to conduct an RNP RNP abbr. ribonucleoprotein RNP see ribonucleoprotein. landing at Portland (Ore.) International. It said the RNP approach, which it first used on March 8, will save 2 min. and 28 gal. of fuel per arrival. May 17, 2006 Allegiant Air Allegiant Air is an American low fare airline, owned by Allegiant Travel Co. (NASDAQ: ALGT), headquartered in Las Vegas, Nevada, USA. The airline operates scheduled and charter flights from focus cities at Las Vegas' McCarran International Airport, Orlando Sanford , Allegiant Travel Allegiant Travel Co., parent of Allegiant Air, filed a registration statement with the US Securities and Exchange Commission for a proposed 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. of its common stock. The carrier, which provides both scheduled and charter services for leisure travelers, operates a fleet of 21 MD-80s and employs 670 people. The number of shares and price range have not been determined. 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. analysts from Raymond James  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . & Assoc., Allegiant's revenue for 2005 was $153 million, a 51% increase over the previous year. May 17, 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 Airlines also has more than $300 million of "nonpricing initiatives" on the revenue side of the equation. It is putting credit card readers on all its aircraft, which it expects will boost sales of its buy-on-board inflight snack offerings. It now charges $2 for curbside check-in and customers pay an extra $10 to book a ticket through a reservations agent rather than using AA.com. May 18, 2006 American Airlines American Airlines is "looking under every rock" for additional cost savings and has launched initiatives "that we believe will save us $700 million year-over-year," 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. 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. Gerard Arpey said at yesterday's annual shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. . Citing rising fuel prices, employee medical costs and facility charges, he stated, "Just to keep costs flat with last year we would need more than $1 billion in savings". May 18, 2006 American Airlines American Airlines is "moving aggressively" in tackling distribution costs and has negotiated a new agreement with Worldspan. It is in talks with other GDSs and expects to gain savings, Arpey said. Turning to maintenance, AA has trimmed its MD-80 heavy checks from 20 days to approximately 15 days, while its MRO MRO In currencies, this is the abbreviation for the Mauritanian Ouguiya. 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. division increased third-party revenues by $22 million in the first quarter compared to the year-ago period. May 18, 2006 American Airlines American CEO focuses on lowering costs. Cutting costs is the key to surviving in the airline industry, American Airlines Chief Executive Gerard Arpey said. Arpey said the company continues to make improvements that will restore profitability. May 18, 2006 American Airlines American Airlines parent AMR Corp.announced yesterday the pricing of a public offering of approximately $400 million of newly issued shares of common stock. Based on a late-day trading Late-Day Trading An unethical (if not illegal) practice of a hedge fund purchasing and then selling securities (usually shares of a mutual fund) after the close of a trading day, but making the transactions appear as though they occurred before the market close. price of $25.60 per share, that would equate to about 15.63 million shares. AMR granted the underwriter, Merrill Lynch & Co., a 30-day option to purchase up to $60 million worth of additional shares to cover any overallotments. AMR said issuance and delivery of the shares is scheduled to occur Friday. May 17, 2006 American Airlines American Airlines set a goal of reducing fuel usage this year by an additional 30 million gal. on top of an estimated 84 million gal. it already expects to save as a result of a series of measures put in place under the Fuel Smart program launched last year. That 84 million gal. of unburned fuel translates into $161 million at current prices. The information is contained in a letter to employees from AMR Corp. Chairman and CEO Gerard Arpey. American expects to consume more than 2.6 billion gal. of fuel this year. May 17, 2006 American Airlines American Airlines flew 11.94 billion system RPMs in April, a 5.5% rise over the year-ago month. Capacity remained flat at 14.61 billion ASMs and load factor climbed 4.3 points to 81.7%. Domestic traffic grew 3.3% to 7.83 billion RPMs against a 2.3% decline in capacity to 9.33 billion ASMs, lifting load factor 4.6 points to 83.9%. Internationally, traffic was up 10.1% to 4.1 billion RPMs, capacity increased 4.4% to 5.27 billion ASMs and load factor improved 4 points to 77.7%. American Eagle Airlines American Eagle Airlines is a regional airline based in Fort Worth, Texas[1]. It is a airline partner of American Airlines[2] (both wholly owned by the AMR Corporation holding company), operating over 1,800 flights a day, serving 159 cities across the USA, reported a 17.1% rise in RPMs to 758.1 million against a 9.9% increase in capacity to 1.02 billion ASMs, lifting load factor 4.6 points to 74.4%. May 15, 2006 American Airlines American expands maintenance program. American Airlines expects its maintenance program to generate $400 million in revenue and cost savings by 2008. The carrier is expanding its maintenance program, which involves doing work for other airlines. May 15, 2006 Continental Open Skies across the Atlantic seem as far away as ever following the breakdown of talks in Brussels, the stumbling block as ever the (partial) foreign ownership of US domestic carriers. In the United States itself Continental Airlines president Jeff Smisek has been vigorously campaigning against Virgin America claiming it is de facto [Latin, In fact.] In fact, in deed, actually. This phrase is used to characterize an officer, a government, a past action, or a state of affairs that must be accepted for all practical purposes, but is illegal or illegitimate. part of the Branson empire. However Continental are none too happy at being excluded from Heathrow. It does seem that the airline wants it both ways. With the US now reconsidering its policy the EU will not receive a firm proposal until later this year the earliest an agreement coming into force not likely until the summer 2007 traffic season. May 21, 2006 Delta Air Lines Rigid policies hurts Delta, fliers. Some of Delta Air Lines' financial problems are the result of poor customer service and fare management, writes University of Georgia Organization The President of the University of Georgia (as of 2007, Michael F. Adams) is the head administrator and is appointed and overseen by the Georgia Board of Regents. economics professor Jeffrey H. Dorfman. Dorfman writes that some policies that restrict the number of free or discounted seats offered actually hurt the airline. May 16, 2006 Delta Air Lines Bankrupt Delta Air Lines reported a first-quarter net loss of $2.1 billion, widened from a net loss of $1.1 billion in the year-ago quarter on special charges, as it continued to navigate Chapter 11 reorganization.Excluding $1.7 billion in reorganization costs, accounting adjustments and special items, the company lost $356 million, narrowed from $684 million. "While continued losses are clearly unacceptable, Delta's financial performance for the quarter was in line with expectations, especially in light of fast-rising fuel prices," CEO Gerald Grinstein said. Operating revenues were virtually flat at $3.72 billion while expenses fell 9.8% to $4.20 billion, producing an 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. of $485 million, a 49.3% improvement over an operating loss of $957 million in the year-ago quarter. Fuel costs rose 5.1% to $929 million. Delta Air Lines 's first-quarter yield was up 9.7% to 13 cents on a 6.4% drop in RPMs. Capacity decreased 8.6% and load factor rose 1.9 points, pushing 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 ahead 9.8% to 10.75 cents. Mainline 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 excluding special items grew 5.3% to 10.71 cents while CASM excluding fuel expense and special items fell 1% to 7.82 cents. May 15, 2006 Delta Air Lines Delta Air Lines loses $2.1 billion in first quarter, insists reorganization is 'on track'. Delta's Grinstein said reorganization plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. is "on track," pointing to the improvement in operating result. The carrier said a tentative agreement reached with its pilots in April on $280 million in annual givebacks Givebacks is a union term for the reduction or elimination of previously won benefits. was a big boost to the restructuring effort. CFO See Chief Financial Officer. Edward Bastian said the airline is "encouraged" by reorganization efforts so far but conceded that "we still have a great deal of hard work ahead for Delta's turnaround to be successful." May 15, 2006 Hawaiian Airlines Hawaiian Airlines flew 552.3 million RPMs in April, a 5.3% increase over the year-ago month. Capacity grew 2.1% to 635.5 million ASMs, raising load factor 2.6 points to 86.9%. May 17, 2006 Mesaba Aviation Mesaba Aviation flew 129.8 million RPMs in April, a 19.5% decline from the year-ago month. Capacity fell 28.1% to 182.3 million ASMs and load factor rose 7.6 points to 71.2%. May 16, 2006 Pinnacle Airlines Pinnacle Airlines flew 356.2 million RPMs in April, a 7.6% rise over the year-ago month. Capacity dropped 5.2% to 452.1 million ASMs, boosting load factor 9.4 points to 78.8%. May 19, 2006 WestJet WestJet flew 763.8 million RPMs in April, a 30.4% increase over the year-ago month. Capacity climbed 14.4% to 973.4 million ASMs, lifting load factor 9.7 points to 78.5%. May 16, 2006 |
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