Airline Finance News - North America.Dec 11, 2006 US House members warn against DOT rule change on foreign ownership. A bipartisan group of US House of Representatives members who sit on transportation and aviation committees launched a preemptive strike Preemptive strike may refer to:
Air Canada Air Canada Union Has Not Discussed Job Cuts. The Canadian Auto Workers The Canadian Auto Workers (CAW; formally the National Automobile, Aerospace, Transportation and General Workers Union of Canada) is one of Canada's largest and highest profile trade unions. union's airline division said on Friday that it had not discussed job cuts announced by Air Canada on Thursday. Dec 7, 2006 Air Transat Transat Union To Vote On Contract Deal. Transat AT and the union representing baggage handlers at Air Transat have reached a tentative contract agreement that will be voted on Monday morning, when a 9:30 a.m. EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT strike deadline is set, a company spokesman said on Friday. Dec 7, 2006 Alaska Airlines Alaska Airlines made a voluntary cash contribution of $50 million to four defined benefit pension plans covering 7,300 employees in its airport, dispatch, maintenance, management and pilot work groups. It has contributed $122 million this year. Dec 4, 2006 American Airlines American Air To Set New Savings Target. American Airlines is on track to reach a USD USD In currencies, this is the abbreviation for the U.S. Dollar. 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. $700 million savings target this year and plans to set an ambitious savings goal for 2007, the carrier's chief financial officer said on Wednesday. Dec 6, 2006 Delta Air Lines Delta Air Lines Creditors Form Separate Group. A group of nine unsecured creditors of Delta have formed an unofficial committee to represent their interests, as the bankrupt carrier faces a takeover bid, according to court filings on Thursday. Dec 8, 2006 Delta Air Lines Delta Air Lines said it would provide more guidance on fleet plans in its 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. to be filed later this month. Delta said it has booked USD$400 million in fleet savings out of a projected USD$450 million. Delta agreed in December of 2005 to sell 10 Boeing planes to CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. Group after delivery, due to start in 2007. Dec 7, 2006 Delta Air Lines Delta Air Lines said its new fleet plans will enable it to expand internationally and fly new routes. The transactions are subject to 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. approval. The company reiterated that it plans to emerge from bankruptcy in the first half of 2007 as an independent carrier. US Airways is trying to buy the company. Dec 7, 2006 Delta Air Lines Airlines Press Congress On Merger Bid. Chief executives of Delta Air Lines and US Airways pressed Congress on Wednesday on their opposing views on merging their companies, congressional officials said. Dec 7, 2006 Delta Air Lines Some Delta Creditors Form Separate Group. A group of nine unsecured creditors of Delta Air Lines have formed an unofficial committee to represent their interests, as the bankrupt carrier faces a takeover bid, according to court filings on Thursday. Dec 7, 2006 Delta Air Lines Delta Air Lines announced a "comprehensive settlement agreement" with the US Pension Benefit Guaranty Corp. that will "resolve all issues" related to the termination of its pilots' defined benefit pension plan. Under the terms, PBGC PBGC See: Pension Benefit Guaranty Corporation will be allowed a pre-petition unsecured claim against the airline of $2.2 billion and the debtors' reorganization plan will provide for the distribution of $225 million in senior unsecured notes to the agency. The deal is subject to both PBGC accepting its staff's recommendation that the plan meets the criteria for "distress termination" and approval by the US Bankruptcy Court. Retired DL pilots will receive $800 million in allowed claims while active pilots are covered by a 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 negotiated with the Air Line Pilots Assn. Dec 5, 2006 Island Air, Go! Island Air plans cuts in response to competition from go! Island Air, mired mire n. 1. An area of wet, soggy, muddy ground; a bog. 2. Deep slimy soil or mud. 3. A disadvantageous or difficult condition or situation: the mire of poverty. v. in the battle for regional airline supremacy in Hawaii, announced a restructuring that includes cutting 65 employees, reducing its fleet by two aircraft and cutting five routes from its network. Dec 5, 2006 Northwest Airlines Northwest Airlines reported a $37 million consolidated October profit on $1.03 billion in revenues. Year-ago figures were not available, but the airline did lose $346 million in the six weeks following its entry into bankruptcy on Sept. 14, 2005. NWA's October expenses came to $980 million and its 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. was $52 million. It has forecast a "modest profit" for 2006 excluding reorganization items. Dec 4, 2006 United Airlines United Airlines named MD Sales-US West Region Dave Myrick as VP Sales-Americas. Dec 5, 2006 US Airways, Delta Air Lines US Airways emphasizes commitment to Delta merger, calls for due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. . US Airways 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. Doug Parker yesterday reiterated his company's commitment to its proposed $8 billion takeover of bankrupt Delta Air Lines, calling on DL's board and creditors' committee creditors' committee A group of lenders who seek to protect their interests in connection with a borrower that experiences financial difficulties. to begin due diligence on the merger offer. Dec 7, 2006 US Airways, Delta Air Lines US Carriers Pulling For US Airways. US airline industry executives are looking forward to the benefits of consolidation as US Airways attempts to take over larger, bankrupt rival Delta Air Lines. Dec 7, 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 Nov 13, 2006 |
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