Airline Finance News - North America.Nov 6, 2006 Airlines strongly back user-fee system. Commercial airlines support a user-fee system that would have private aircraft owners contribute more to the funding of the FAA's air traffic control system than they currently do. "We want a system that will enable transformation to happen to the next generation satellite-based system, but we want it to be fair -- and right now it is not fair," says Sharon Pinkerton, vice president of government affairs for the Air Transport Association. General aviation groups oppose a user-fee system. Oct 31, 2006 Air Canada Air Canada Jazz Jazz Air LP (Air Canada Jazz) is a Canadian regional airline based in the Halifax Regional Municipality, at the Halifax Stanfield International Airport in Enfield, Nova Scotia. flight attendants were awarded a 1% pay increase retroactive to June 1 and raises of 1.75% in each of the next two years in an arbitration ruling issued yesterday, . The 740 flight attendants, represented by Teamsters Canada Teamsters Canada is the Canadian trade union affiliate of the Teamsters. Established in 1992, it is also affiliated with the Canadian Labour Congress. See also
A plan that gives employees a share in the profits of the company. Each employee receives into an account, a percentage of those profits based on their earnings. Also known as "deferred profit-sharing plan" or "DPSP". . Nov 2, 2006 Air Canada Air Canada pilots were awarded pay raises in an arbitrator's ruling issued yesterday. The carrier said in a statement that arbitrator Douglas Stanley ruled that the 3,100 pilots, represented by the Air Canada Pilots Assn., will receive a pay increase of 2% this year retroactive to July 1 and raises of 1.75% in each of the next two years. Nov 2, 2006 Air Canada Air Canada introduces 'a la carte' pricing options. Air Canada last week introduced a new pricing system Noun 1. pricing system - a system for setting prices on goods or services system - a procedure or process for obtaining an objective; "they had to devise a system that did not depend on cooperation" , available on its website, that offers "a la carte options" that allow passengers to pay for specific services or to save money by choosing not to use certain services. Oct 31, 2006 Delta Air Lines Delta gets extension to file 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. . Delta Air Lines has received an extension to file its bankruptcy reorganization plan. The airline hopes to emerge from bankruptcy by the middle of next year. It now has until Feb. 15 to file a plan. Nov 3, 2006 Delta Air Lines, Comair Comair asks for permission to void pilot contract. Comair on Thursday formally asked a court to allow it to reject its pilots contract and impose concessions. The company said it could still reach a negotiated agreement with the pilots union. Comair, a unit of Delta Air Lines, says it must lower labor costs to emerge from bankruptcy protection. The carrier has reached tentative agreements with its flight attendants and mechanics. Nov 3, 2006 Delta Air Lines, Comair Comair to request permission to cut pilot pay. Comair this week will ask 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. for permission to impose contract concessions on its pilots if the two sides can't come to terms. The company and the pilots union are scheduled to negotiate today. Comair says it must cut labor costs to emerge from bankruptcy protection. Oct 31, 2006 Delta Air Lines, Comair Comair, union schedule new negotiations. Comair will resume negotiations with its pilots union today. The two sides have not discussed contract concessions since early October. Comair, a unit of Delta Air Lines, says it needs concessions in order to emerge from bankruptcy protection. Oct 30, 2006 Delta Connection Delta Connection carrier Comair yesterday asked a US Bankruptcy Court to allow it to impose pay concessions if it fails to reach agreement with its 1,500 pilots on cost cuts. The bankrupt Regional is seeking $15.8 million in annual savings from pilots. Company officials said they would prefer a consensual agreement to a court-imposed wage and benefit schedule and hope to continue negotiations with the pilots, represented by the Air Line Pilots Assn. Nov 3, 2006 Hawaiian Airlines ATA (1) (AT Attachment) The specification for IDE drives. See IDE. (2) See analog telephone adapter. ATA - Advanced Technology Attachment group denounces Somoa governor's actions. American Samoa Gov. Togiola Tulafono's actions to ban Hawaiian Airlines from flying to and from the U.S. territory were illegal, the Air Transport Association says. Tulafono says Hawaiian is overpriced o·ver·price tr.v. o·ver·priced, o·ver·pric·ing, o·ver·pric·es To put too high a price or value on. overpriced Adjective costing more than it is thought to be worth Adj. and lacks quality service, but ATA calls the governor's executive order "an illegal and misguided attempt to regulate air fares." Nov 3, 2006 Hawaiian Airlines Hawaiian posts $7.76M Q3 profit. Hawaiian Airlines reported a third-quarter profit of $7.76 million, down slightly from the $7.83 million earned a year ago. The company is facing competition from startup interisland in·ter·is·land adj. Relating to, involving, or connecting two or more islands: interisland competition; interisland ferries. carrier go! and from mainland carriers on trans-Pacific routes. Nov 2, 2006 Mesaba Airlines Mesaba Airlines, which has been working to avoid work stoppages as it goes through a Chapter 11 restructuring, reached a tentative agreement yesterday on a new labor contract with its mechanics, represented by the Aircraft Mechanics Fraternal Assn., one of three unions representing the Regional's employees. Members of the Assn. of Flight Attendants and Air Line Pilots Assn. reached tentative agreements late last week on new wage and benefit packages. No details have been released on the deals. Nov 2, 2006 Mesaba Aviation Mesaba employees previously balked balk v. balked, balk·ing, balks v.intr. 1. To stop short and refuse to go on: The horse balked at the jump. 2. at the company's efforts to trim 17.5% from annual labor costs, but management said the cuts were needed to ensure the bankrupt airline's survival. The employees were denied the right to strike by a US Bankruptcy Court. "This agreement, along with the deals we reached this weekend with ALPA ALPA abbr. Air Line Pilots Association and 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. , is another vital step toward Mesaba's successful restructuring," President and COO John Spanjers said. The carrier operates a fleet of 49 Saabs as a Northwest Airlink partner. Nov 2, 2006 Mesaba Aviation Mesaba Aviation, which narrowly averted a strike last week, reached tentative labor agreements with its pilot and flight attendant unions. Negotiations continue with mechanics represented by the Aircraft Mechanics Fraternal Assn. "All along we have believed that consensual agreements are in the best interest of all involved in the company, its employees, and our passengers," Mesaba 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. John Spanjers said. "We look forward to continuing to work together to ensure Mesaba emerges successfully from bankruptcy and is positioned for growth." Last week a bankruptcy court judge denied unions the right to strike and asked the airline to postpone imposition of wage and benefit cuts. Employees represented by AMFA AMFA Aircraft Mechanics Fraternal Association AMFA Alternative Motor Fuels Act (PL 100-494) AMFA Asociación Movimiento Fe y Alegría (Association for Activities of Faith and Joy; Guatemala) , the Air Line Pilots Assn. and the Assn. of Flight Attendants were chafing chafe v. chafed, chaf·ing, chafes v.tr. 1. To wear away or irritate by rubbing. 2. To annoy; vex. 3. To warm by rubbing, as with the hands. v.intr. at management's efforts to trim some 17.5% from labor costs, a figure the unions said was impossible to achieve. Details of the agreement were not released. Oct 31, 2006 Mesaba Aviation Mesaba reaches tentative agreements with pilots, attendants. Mesaba Airlines says it has reached tentative agreements with unions representing its pilots and flight attendants. Details of the agreements, which still need approval from the union members, were not released. The airline continues to negotiate with the union representing its mechanics. Oct 30, 2006 Midwest Air Midwest Air Group Midwest Air Group, Inc. AMEX: MEH is an airline holding company based in Oak Creek, Wisconsin now controlled by parent company, TPG Capital Texas Pacific Group. Northwest Airlines Inc,. reported net income of $1.7 million for the third quarter ended Sept. 30, reversing a loss of $26.9 million in the year-ago period. Revenues increased 23.4% to $168.6 million, reflecting a 16.8% growth in passenger traffic, and operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. improved to $400,000 from a $27.1 million loss. Expenses were up 2.7% to $168 million. Improvement was attributed to "broad marketing initiatives" that boosted passenger traffic in addition to more competitive fares. For the nine-month period, net income lifted to $1.8 million from a $51 million loss. Costs were up 15% to $497 million and revenue gained 30.5% to $496.2 million. Oct 30, 2006 Northwest Airlines Bankruptcy charges hit 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 in third quarter as operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. rebounds. Heavy bankruptcy-related charges pushed Northwest Airlines Corp. into the red for the third quarter as it reported a net loss of $1.18 billion compared to a loss of $475 million in the year-ago period. Nov 1, 2006 Northwest Airlines Northwest reports Q3 loss on bankruptcy costs. Northwest Airlines reported a third-quarter loss of $1.18 billion, which included several charges related to its bankruptcy filing. Revenue rose nearly 1% to $3.41 billion. The airline still expects to post a small profit for all of 2006. Nov 1, 2006 Northwest Airlines Northwest may restructure jet leases, judge rules. Northwest Airlines may restructure the leases of more than 100 regional jets, a bankruptcy judge rules. Financiers Export Development Canada Export Development Canada (EDC) is Canada's export credit agency and a Crown corporation that provides financing and risk management services to Canadian exporters and investors in up to 200 markets worldwide. and General Electric Capital will receive general unsecured claims under the airline's plan. Oct 30, 2006 SkyWest For the nine-month period, SkyWest's profit of $114.6 million represented a 55.7% increase over the $73.6 million earned in the year-ago period. Revenues rose 90.3% to $2.33 billion, expenses grew 90% to $2.06 billion and operating profit jumped 92.7% to $260.3 million. Oct 31, 2006 SkyWest SkyWest, parent of SkyWest Airlines and 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. flew 4.16 billion RPMs during the quarter, a year-over-year increase of 69.1%. Capacity climbed 63.3% to 5.28 billion ASMs and load factor was up 2.7 points to 78.7%. Unit revenues dropped 2.6% to 15 cents as yield declined 5% to 18.9 cents. 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 was down 0.7% to 13.9 cents. The company took delivery of six leased CRJ CRJ Canadair Regional Jet CRJ Chiropractic Research Journal CRJ Commission for Racial Justice CRJ Cylinder Reduction Jumper 900s and four CRJ200s during the quarter. Its fleet numbered 407 as of Sept. 30. Oct 31, 2006 SkyWest Airlines, Atlantic Southeast Airlines SkyWest Inc., parent of SkyWest Airlines and Atlantic Southeast Airlines, reported net earnings of $40.7 million in the third quarter, up 35.3% from the $30.1 million earned in the three months ended Sept. 30, 2005. The year-over-year improvement is due in large part to SkyWest's acquisition 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 during the year-ago quarter. Revenues increased 59.2% to $791.8 million and expenses rose 59.5% to $704.1 million. Operating income surged 56.8% to $87.8 million. Oct 31, 2006 United Airlines UAL UAL United Airlines (ICAO code) UAL Unified Accelerator Library (Brookhaven National Laboratory) UAL User Account Lockdown UAL User Access Layer UAL Universal Auxiliary Language UAL User Agent Layer posts second straight quarterly profit following emergence from bankruptcy. United Airlines parent UAL Corp. reported second-quarter net income of $190 million, reversed from a $1.77 billion net loss in the year-ago quarter and its second straight profitable quarter following a lengthy bankruptcy restructuring. Nov 1, 2006 United Airlines United Airlines posts Q3 profit. Higher fares and lower fuel costs helped United Airlines earn a third-quarter profit of $190 million. United says revenue rose 11% to $5.2 billion from $4.7 billion a year earlier. Nov 1, 2006 Z 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 our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com Oct 30, 2006 |
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