Airline Finance News - North America.
For more airline finance news, data and analysis, please go to: http://www.airguideonline.com/professional.htm Jul 17, 2006
Extended benefits for retired pilots not taking off. A proposal to allow thousands of retired pilots to be eligible for more benefits from federal pension insurers is unlikely to be included in final legislation to stabilize pensions. Congressional staffers say the provision, discussed Wednesday at a negotiating session, has gained little support. Jul 13, 2006
Some former airline pilots reject recall offers. Airlines are recalling some pilots who were laid off after the Sept. 11, 2001, terror attacks. However, some pilots who have found new jobs and developed new skills are declining to return to the cockpit. "Having other options is the key to surviving a career in the airline industry," says John Lonneman, a former United Airlines pilot now working as a hospital nurse. Jul 13, 2006
Pilot group hires top lobbyists to push for older retirement age. A group known as Airline Pilots Against Age Discrimination has hired a lobbying team to push the mandatory retirement A mandatory retirement age is the age at which persons who hold certain jobs or offices are required by statute to step down, or retire.
Typically, mandatory retirement ages are justified by the argument that certain occupations are either too dangerous (military personnel) age for pilots from 60 to 65, as proponents claim there is no evidence of a safety risk increase after the age of 60. 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 and the Air Line Pilots Association continue to support the Age 60 rule, maintaining that the current safety regulation has been effective.
Jul 12, 2006
US Airline Shares Drop On Ratings Downgrade. US airline shares tumbled on Tuesday after ratings downgrades on several carriers said they remain vulnerable to industry pressures. Jul 11, 2006
ACE Aviation, US Airways
ACE Aviation Holdings ACE Aviation Holdings Inc. TSX: ACE.B is a Canadian holding company that provides commercial airline service and technical support and is the parent company of Air Canada. announced the sale of an additional 2.75 million shares of 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. stock in June and July "through a series of transactions on the open stock market" that netted proceeds of $137.9 million. Air Canada's parent said it has earned $205.5 million from the sale of shares in its Star Alliance partner from an initial investment of $75 million in September 2005. ACE still holds 500,000 shares. Jul 10, 2006
Air Wisconsin Air Wisconsin is an airline based in Appleton, Wisconsin, USA. Air Wisconsin Airlines Corporation, or AWAC, is the largest privately held regional and commuter airline which operates regional jet flights as US Airways Express under contract to US Airways, serving around 70
Air Wisconsin yesterday named Skyway Airlines Skyway Airlines is an American commuter airline based in Milwaukee, Wisconsin. The airline operates as Midwest Connect for Midwest Airlines, feeding Midwest's hubs at General Mitchell International Airport with 12 32-seat aircraft. 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 Rankin James Rankin may refer to:
Midwest Airlines is an American scheduled passenger airline based in Milwaukee, Wisconsin, operating from General Mitchell International Airport. Saver Service, joined Skyway sky·way
1. A route regularly used by airplanes; an air lane.
2. An elevated highway.
Noun 1. skyway - a designated route followed by airplanes in flying from one airport to another as a pilot in 1990 before moving to Midwest Express Airlines five years later. He succeeds interim CEO Patrick Thompson Hugh Patrick Thompson, known as Patrick Thompson, (born 21 October, 1935) is a British Conservative Party politician.
Thompson was Member of Parliament for the marginal Norwich North seat, gaining it from Labour in 1983. He held the seat until his retirement in 1997. , who has been filling the role since Geoffrey Crowley's departure in April. Thompson will remain vice chairman. The carrier, which flies for US Airways, is the largest privately held US Regional, operating nearly 500 daily flights to 70 cities with a fleet of 70 CRJs. Jul 12, 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 will take $4M charge from severance offers. Alaska Airlines will record a second-quarter charge of $4 million related to severance packages offered to some flight attendants. The airline said 104 workers accepted the offer. Jul 10, 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
GDSs work to reassure agents after AA fee announcement. Following American Airlines' announcement of a $3.50 per segment fee for bookings on some GDSs, Galileo, Amadeus and Sabre are trying to reassure their travel agent clients. Galileo's Content Continuity program will protect agents from the fees and assure them they have the fares and inventory available. Amadeus and Sabre are negotiating with the airline. Jul 14, 2006
American adds fee to tickets bought through some agents. American Airlines has told travel agents it will start charging a fee of $3.50 per ticket for tickets purchased through distributors that do not have a contract with the carrier. Its contract with the Sabre distribution system will expire at the end of July. American says it wants to lower its ticket processing and distribution costs distribution costs distribute npl → Vertriebskosten pl . Jul 13, 2006
American Airlines flew 12.66 billion RPMs in June, a 0.1% dip from the year-ago month. Capacity fell 3.1% to 14.82 billion ASMs and load factor rose 2.6 points to 85.4%. Domestic traffic declined 2.9% to 8.19 billion RPMs against a 5.9% drop in capacity to 9.41 billion ASMs, lifting load factor 2.7 points to 86.9%. International RPMs rose 5.5% to 4.47 billion, ASMs climbed 2.3% to 5.41 billion and load factor went up 2.5 points to 82.7%. Jul 12, 2006
Atlantic Southeast Airlines For the defunct low-fare airline, see .
Atlantic Southeast Airlines (ASA) is a fully certificated American airline based in Atlanta, Georgia, USA flying to 144 destinations as a Delta Connection carrier. It is a wholly owned subsidiary of SkyWest, Inc.
Atlantic Southeast Airlines pilots voted to authorize a strike if negotiations for a new labor contract fail. The Air Line Pilots Assn. said in a statement yesterday that 92% of ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and pilots casting ballots favored giving union leaders authority to pursue a work stoppage. The union, representing 1,700 pilots at the SkyWest subsidiary that operates regional flights as a Delta Connection carrier, noted that negotiations have gone on since 2002 and have been conducted under National Mediation Board The National Mediation Board is a three-person board created in 1934 by an act amending the Railway Labor Act (45 U.S.C.A. §§ 151–158, 160–162, 1181–1188) to resolve disputes in the railroad and airline industries that could disrupt travel or imperil the oversight since 2004. Under provisions of the Railway Labor Act The Railway Labor Act is a United States federal law that governs labor relations in the railway and airline industries.. The Act, passed in 1926 and amended in 1936 to apply to the airline industry, seeks to substitute bargaining, arbitration and mediation for strikes as a means , which governs airline labor negotiations in the US, a number of obstacles remain before a strike could actually be initiated, including NMB NMB
new methylene blue. releasing the sides from talks and a subsequent 30-day cooling-off period An interval of time during which no action of a specific type can be taken by either side in a dispute. An automatic delay in certain jurisdictions, apart from ordinary court delays, between the time when Divorce papers are filed and the divorce hearing takes place. . Jul 12, 2006
Comair, Delta Air Lines
Comair, union may return to negotiations. A bankruptcy judge may postpone ruling on Comair's request to void its flight attendants contract and urge the two sides to negotiate an agreement. Both sides say they want to continue talks, but Comair says time is running out. Comair, a unit of Delta Air Lines, operates under bankruptcy protection. Jul 12, 2006
Comair, Delta Air Lines
Labor woes threaten Comair's future, CEO says. The president of Comair says labor uncertainty threatens the airline's expansion. The airline, a unit of Delta Air Lines, on Monday asked 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. to terminate its contract with its flight attendants. "The inability to reach agreement with the (union) and achieve competitive cost levels in the near term is robbing Comair of the opportunity to compete for new flying," Don Bornhorst said. Jul 11, 2006
Comair, Delta Air Lines
Flight attendant talks heat up at two airlines. Delta Air Lines' Comair unit this week will ask a bankruptcy judge for permission to void a contract with its flight attendants union. Northwest Airlines will start talks with the Association of Flight Attendants The Association of Flight Attendants (commonly known as AFA) is a union representing flight attendants in the United States. AFA represents 55,000 flight attendants at 20 airlines, making it the world's largest flight attendant union. ; Northwest attendants last week voted to change their affiliation to AFA AFA
In currencies, this is the abbreviation for the Afghanistan Afghani.
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. . Jul 10, 2006
Continental Airlines flew 8.22 billion consolidated RPMs in June, a 13.7% increase. Capacity rose 10.6% to 9.73 billion ASMs and load factor climbed 2.3 points to 84.5%. Domestic RPMs were up 9% to 3.89 billion against a 6.5% gain in capacity to 4.48 billion ASMs, lifting load factor 2 points to 86.7%. International traffic surged 18.5% to 3.39 billion RPMs, capacity rose 15.7% to 4.09 billion ASMs and load factor went up 1.9 points to 82.7%. Jul 12, 2006
Continental Airlines said its June mainline 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 rose by an estimated 9%-10% and consolidated RASM by 10.5%-11.5% compared to June 2006. Consolidated RASM grew 9.3% in May. Jul 12, 2006
Midwest Airlines flew 352.9 million RPMs in June, a 25.6% increase over the year-ago month. ASMs were up 17% to 416.8 million and load factor climbed 5.9 points to 84.7%. Jul 13, 2006
Northwest Airlines signed a five-year, full-content agreement with Galileo International, which said the deal made it the first GDS GDS Global Distribution System
GDS Google Desktop Search (Google)
GDS Goodie Domain Service (Vienna University of Technology, Austria)
GDS Guards to sign full-content deals with every network carrier in the US. Jul 14, 2006
Northwest, union lawyers meet today with bankruptcy judge. Leaders of Northwest Airlines flight attendants want to reach an agreement with the carrier but say they are prepared to strike. Northwest says it needs to lower costs to emerge from bankruptcy protection and wants to void its current labor contract. Lawyers from both sides meet with the bankruptcy judge today. Jul 14, 2006
Northwest attendants may walk off the job, union says. Northwest flight attendants may stage brief walkouts or other job actions to put pressure on the airline. Union leaders say they may strike if the airline is allowed to impose a new contract on the workers. The company said it is focused on reaching an agreement with the union. The two sides are going into their third straight day of talks. Jul 13, 2006
Northwest, new union resume talks. The new union representing Northwest Airlines flight attendants will restart negotiations with the company today. The two sides hope to reach a contract agreement before Monday, the date a bankruptcy judge set for allowing the company to unilaterally change the contract. Jul 11, 2006
Northwest Airlines flew 7 billion consolidated RPMs in June, an 8.8% decline from the year-ago month. Capacity dropped 11.1% to 7.88 billion ASMs and load factor rose 2.3 points to 88.9%. Domestic traffic fell 8.1% to 3.81 billion RPMs against an 11.5% decline in capacity to 4.36 billion ASMs, raising load factor 3.2 points to 87.4%. International RPMs decreased 8.6% to 2.71 billion, capacity was down 8.7% to 2.91 billion ASMs and load factor rose 0.1 point to 93.1%. Jul 10, 2006
United in final talks for downtown Chicago move, report says. United Airlines is in the final stages of negotiations with city officials to move its headquarters to downtown Chicago, according to media reports. United and City of Chicago representatives have offered no comment on the reports. United, now headquartered in a Chicago suburb, has also considered moving to San Francisco or Denver. Jul 14, 2006
US airline shares tumbled on Thursday led by US Airways, which shed more than 8 percent after the price of crude oil notched a record high above USD USD
In currencies, this is the abbreviation for the U.S. Dollar.
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. $76 a barrel. The airline sector in general was battered by soaring oil prices -- directly linked to the price of jet fuel. The Amex airline index was down 2.72 percent in morning trade. Shares of American Airlines and United Airline also weakened significantly, falling more than 4.5 percent and 6 percent respectively before stabilizing. Jul 13, 2006
US Airways hedges 41% of Q2 fuel. US Airways has hedged 41% of the fuel it needs in the second quarter at prices between $2.15 and $2.20 per gallon. The carrier expects to end the quarter with $3.15 billion in total cash. Jul 10, 2006
Virgin America clears hurdle toward U.S. flights. Federal regulators have rejected requests by rival airlines to stop the approval process for Virgin America to start passenger flights in the U.S. Opposition to the new discount carrier is led by Continental Airlines, which wants the Department of Transportation to take a closer look at billionaire Richard Branson's role in the company. Jul 14, 2006
WestJet flew 774.5 million RPMs in June, up 26% over the year-ago month. Capacity increased 20% to 1 billion ASMs, lifting load factor 3.6 points to 77.1%. Jul 11, 2006
World Air Holdings
World Air Holdings finally reported its 2005 fourth-quarter and full-year financial results Friday, posting net income of $31.6 million for the year, increased 23.4% from $25.6 million in 2004. WAH, parent of wet-lease specialist World Airways and charter carrier North American Airlines North American Airlines is an American airline based in New York City, USA. It operates scheduled international services from the USA to Africa and Guyana, as well as domestic and international charter services and wet lease services. Its main base is John F. , missed several reporting deadlines and was de-listed by Nasdaq as a result. CEO Randy Martinez said the company has appealed Nasdaq's decision and resolved the problems delaying its required filings with the US Securities and Exchange Commission. It plans to file "subsequent reports on a timely basis." World Air Holdings Revenues in 2005 were $787.1 million, up 56%, while operating income Operating Income
The profit realized from a business' own operations.
This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. increased 41% to $56.6 million from $40.3 million the previous year. For the fourth quarter, net income rose 33.3% to $10.8 million. Operating income was $18.4 million, more than double the year-ago period, on revenues of $237.1 million, up 83.2%. Jul 11, 2006
World Air Holdings
World Air Holdings issued updated guidance for the 2006 first quarter ended March 31, saying that revenues "are expected to be in the range of $214 million to $216 million," slightly below previous expectations, and operating income will be $7-$9 million, slightly above previous guidance. Martinez said first-quarter operating income "would have doubled" were it not for "significant professional fees" and a nine-day pilots' strike and subsequent signing bonus given to pilots as part of a new labor contract. Jul 11, 2006