Airline Finance News - North America.Dec 31, 2006 The US airline industry is in the midst Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?" midmost of a recovery after years of losses stemming from weak demand following the September 11, 2001, attacks. Resurgent re·sur·gent adj. 1. Experiencing or tending to bring about renewal or revival. 2. Sweeping or surging back again. Adj. 1. demand and removing planes from service have helped carriers increase ticket prices and post profits in recent quarters. Dec 28, 2006 Air Canada Air Canada Pilots Fail To Block Aeroplan Payout. ACE Aviation moved ahead with distributing CAD$856 million (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. $738 million) of trust units in Air Canada's frequent flier program on Thursday after the airline's pilots failed to persuade a judge to block the payout. Dec 28, 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. Air Canada and Air Canada Jazz flew a combined 3.3 billion RPMs in November, a 4.6% increase over the year-ago month. Capacity climbed 3.8% to 4.31 billion ASMs and load factor rose 0.6 point to 76.7%. Dec 18, 2006 Alaska Airlines Alaska Air Group told the US Securities and Exchange Commission Friday that the company expects breakeven results in the fourth quarter, which will compare favorably to a $33 million deficit in the final quarter of 2005. Its forecast for the current three-month period includes a 4% rise in Alaska Airlines capacity to 5.8 billion ASMs and unit costs of 7.9-8 cents, which would represent a 0-1% drop from the year-ago period. Horizon Air 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 increase 8% to 14.8-14.9 cents, which AAG AAG Association of American Geographers (Washington, DC) AAG Assistant Attorney General AAG Asociación Argentina de Golf AAG Anti-Aircraft Gun AAG Assistant Adjutant General AAG Australian Association of Gerontology attributed to a jump in maintenance expenses. Dec 26, 2006 Alaska Airlines Alaska Airlines flew 1.4 billion RPMs in November, a 2.5% increase over the year-ago month. Capacity climbed 3.5% to 1.88 billion ASMs, dropping load factor 0.7 point to 74.5%. Dec 21, 2006 Aloha Airlines Aloha Airlines suffered a $9.9 million loss in the third quarter ended Sept. 30, more than four times greater than its $2.2 million deficit in the year-ago quarter, according to a Bureau of Transportation Statistics The Bureau of Transportation Statistics (BTS), as part of the United States Department of Transportation, compiles, analyzes, and makes accessible information on the nation's transportation systems; collects information on intermodal transportation and other areas as needed; and filing cited by press reports. The privately held carrier's nine-month loss was $33 million. "During the third quarter Aloha faced a new inter-island competitor [go!] who priced its product below its operating cost. Even though we have a lower operating cost per seat than the competition, our earnings were negatively impacted as we remained price competitive...In addition, our fuel costs were higher in the third quarter," 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. David Banmiller said in a statement. According to Honolulu's Star Bulletin, Aloha's third-quarter revenue fell 13% to $99.8 million against a 3% rise in expenses to $110.4 million. 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. was $10.6 million compared to $7.4 million in the year-ago quarter. Dec 21, 2006 American Airlines American Airlines said it expects fourth-quarter 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 to increase 3.8%-4.8% year over year, with consolidated unit revenues rising 3.6%-4.6%. It is anticipating fourth-quarter mainline unit costs of 10.98 cents and full-year CASM of 10.92 cents. Excluding fuel, the numbers will be 7.80 and 7.58 cents, respectively. Dec 26, 2006 Comair, Delta Air Lines Comair, Pilots Extend Talks. Delta Air Lines unit Comair and its pilots agreed to a deal that would give the two sides until February 2 to negotiate a new contract, the bankrupt carrier and its pilots' union said on Friday. Dec 29, 2006 Comair, Delta Air Lines Comair, Pilots' Union Try To Buy More Time. Delta Air Lines unit Comair and its pilots' union have reached a deal that, if approved, would give the two sides more time to negotiate a new contract, the airline said on Thursday. Dec 29, 2006 Delta Air Lines Delta Loses USD$49 Mln In November. Delta Air Lines said on Friday it narrowed its loss in November to USD$49 million, keeping it on track to exit bankruptcy as a stand-alone company stand-alone company An independent operating firm. For example, a large diversified firm may consider spinning off a subsidiary because, as a stand-alone company, the subsidiary would command a higher price-earnings ratio than the parent. in the spring. Dec 29, 2006 Delta Air Lines Delta Sets Hearing On 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 set a February 7 hearing to begin seeking approval from creditors to exit bankruptcy as a stand-alone carrier, according to a court document. Dec 29, 2006 Delta Air Lines Delta Air Lines announced that it expects to recall all remaining furloughed pilots in 2007 and is accepting applications for new hires. It expects to add 200 pilots next year through recalls and new hires. Dec 26, 2006 Delta Air Lines Delta Air Lines should "consider methodically, proactively and fairly strategic alternatives to its standalone Chapter 11 plan," a group of "unofficial" unsecured creditors said last week in a statement. The group of 17 creditors unaligned un·a·ligned adj. Nonaligned: unaligned nations. with the official creditors committee said it "appreciates" the DL standalone plan but that all options, ostensibly os·ten·si·ble adj. Represented or appearing as such; ostensive: His ostensible purpose was charity, but his real goal was popularity. including the US Airways takeover offer, should be explored. Dec 26, 2006 Delta Air Lines Delta Air Lines creditors have until Jan. 10 to file objections, with the court expected to rule on Jan. 18. The carrier originally planned to launch transatlantic service from the new terminal, but traffic downturns following the 9/11 attacks and Massport's unwillingness to construct customs facilities there forced it to cancel those plans. Dec 23, 2006 Delta Air Lines Delta Air Lines is obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to repay the $497.8 million in bonds for Boston airport[sup.1]s Terminal A that were sold through Massport. Under the new agreement filed in US 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. on Dec. 15, DL would be absolved of that obligation. Any rent Massport collects from airlines and reserve funds will go toward repaying the bonds; the remainder will be covered by Ambac Assurance Corp., a Wall Street bond insurance company the airline hired to repay the bonds in the event of bankruptcy. Dec 21, 2006 Delta Air Lines Delta Air Lines' Official Creditors' Committee creditors' committee A group of lenders who seek to protect their interests in connection with a borrower that experiences financial difficulties. declined to give a swift thumbs-up to the airline's proposed Plan of Reorganization and accompanying Disclosure Statement released Tuesday. While stating that it supports the company's decision to file the reorganization plan, the Committee yesterday said it "will continue to consider potential alternatives in order to maximize the ultimate recoveries" for unsecured creditors. Dec 21, 2006 Delta Air Lines Delta Air Lines flew 8.91 billion system RPMs in November, down 1.8% from the year-ago month. Capacity fell 6.5% to 11.51 billion ASMs and load factor rose 3.7 points to 77.5%. Domestic RPMs dropped 8.4% to 6.47 billion, ASMs declined 13.8% to 8.29 billion and load factor rose 4.6 points to 78.1%. International traffic climbed 21.2% to 2.44 billion RPMs against a 19.7% rise in ASMs to 3.22 billion, lifting load factor 1 point to 75.9%. Dec 18, 2006 FL Group, American Airlines FL Group Buys Stake In American Air Parent. Iceland's FL Group said on Tuesday it had bought a 5.98 percent stake in 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. , making it the third-largest shareholder of the American Airlines parent. Investment company FL Group, which owns 23 percent of Finnish flag carrier Finnair and has made a string of investments in the airline industry, said it had been building the stake in the world's largest airline over a considerable period of time and had spent over USD$400 million. Other top shareholders in AMR include Tontine An organization of individuals who enter into an agreement to pool sums of money or something of value other than money, permitting the last survivor of the group to take everything. Associates, which holds 7.85 percent, and PRIMECAP Management, which holds 7.72 percent. Dec 28, 2006 Hawaiian Airlines Hawaiian Airlines flew 609.3 million RPMs in November, up 7.8% from the year-ago month. Capacity rose 13.4% to 716.8 million ASMs and load factor fell 4.4 points to 85%. Dec 26, 2006 Mesaba Airlines Mesaba Airlines has been in bankruptcy since October 2005. "The discussions are at a very preliminary stage, so they don't merit specific comment at this point," MAIR's Jon Austin said yesterday. At the same time, he said the company will continue "working with Mesaba on restructuring and any opportunity it presents." Northwest currently owns about 20% of MAIR MAIR Malfunction/Accident/Incident Report MAIR Motion Adaptive Intra Refresh (MPEG) stock. Northwest Airlines officials indicated the deal to acquire Mesaba would be a noncash transaction subject to approval by the bankruptcy court. Dec 22, 2006 Mesaba Airlines Mesaba Airlines spokesperson Liz Costello told that employees were informed of the talks Wednesday but would not say which party initiated the discussions. Mesaba operates a fleet of 46 Saab 340s as a Northwest Airlink partner. Dec 22, 2006 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,. Midwest Air Group flew 333.4 million system RPMs in November, a 13.2% increase from the year-ago month, against a 6.7% rise in ASKs to 450.7 million. Load factor gained 4.2 points to 74%. Dec 26, 2006 Northwest Airlines Northwest Airlines reached an agreement with Pinnacle Airlines that opens the door for the regional to operate larger jets and seek additional business partners. Until now, Pinnacle has had an exclusive agreement with 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 that prohibited the Memphis-based regional from working with other carriers or operating aircraft with more than 50 seats. Dec 26, 2006 Northwest Airlines Northwest Airlines issued a filing to the US Securities and Exchange Commission saying it expects to report a $230-$270 million pre-tax profit in 2006 excluding reorganization and unusual items. The pool available under its profit-sharing plan Profit-Sharing Plan 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". will be $23-$27 million. Dec 22, 2006 Northwest Airlines Northwest Airlines flew 6.13 billion system RPMs in November, up 3.2% from the year-ago month. Capacity grew 1.7% to 7.51 billion ASMs, bumping load factor up 1.3 points to 81.7%. Domestic traffic rose 5.2% to 3.32 billion RPMs against a 2.9% increase in capacity to 4.12 billion ASMs and load factor improved 1.8 points to 80.6%. International RPMs rose 3.6% to 2.4 billion and ASMs were up 3.1% to 2.83 billion, raising load factor 0.4 point to 85%. Dec 18, 2006 Northwest Airlines, Mesaba Airlines Northwest in talks to acquire Mesaba Airlines. A spokesperson for MAIR Holdings, parent of bankrupt Mesaba Airlines, confirmed to that the company is in discussions with Northwest Airlines about a possible acquisition. Dec 22, 2006 Northwest Airlines, Pinnacle Airlines The new Northwest Airlines and Pinnacle Airlines service agreement will go into effect Jan. 1. It stipulates that Pinnacle will receive an unsecured claim of $337.5 million as part of NWA's bankruptcy proceedings bankruptcy proceedings n. the bankruptcy procedure is: a) filing a petition (voluntary or involuntary) to declare a debtor person or business bankrupt, or, under Chapter 11 or 13, to allow reorganization or refinancing under a plan to meet the debts of the party that settles all claims it may have against its mainline partner. It will continue to operate its 124 50-seat CRJs, along with 15 CRJs previously removed as part of NWA's restructuring, plus two additional CRJs. The first three of the additional aircraft will join the fleet next month, Reed said. Dec 26, 2006 Pinnacle Airlines Pinnacle Airlines reported a third-quarter profit of $15.8 million, a reversal from a $21.4 million loss in the year-ago quarter when it was hit hard by the NWA bankruptcy. Dec 26, 2006 Star Alliance US Dept. of Transportation yesterday issued a tentative ruling allowing Swiss International Air Lines Swiss International Air Lines (short: Swiss) is the principal airline of Switzerland operating scheduled services in Europe and to North America, South America, Africa and Asia. Its main hub is Zurich Kloten Airport (ZRH). , LOT Polish Airlines LOT Polish Airlines (Polskie Linie Lotnicze LOT, short name PLL LOT) is the national airline/flag carrier of Poland, based in Warsaw. It operates scheduled passenger and cargo services. Domestic services link Warsaw with ten cities. and TAP Portugal to receive the same antitrust immunity already enjoyed by European Star Alliance members Lufthansa, SAS (1) (SAS Institute Inc., Cary, NC, www.sas.com) A software company that specializes in data warehousing and decision support software based on the SAS System. Founded in 1976, SAS is one of the world's largest privately held software companies. See SAS System. and Austrian Airlines. DOT also expanded the immunity between United Airlines and Air Canada to cover cooperation on all of the two carriers' international operations. The US has bilateral open skies agreements with the home nations of each of the carriers granted immunity, DOT noted, adding that it will be accepting comments for 21 days. Dec 21, 2006 US Airways US Airways reached agreement with the Transport Workers Union Transport Workers Union may refer to:
At the time of its integration into US Airways, the airline maintained two hubs, one at Phoenix Sky Harbor International and the former US Airways under one labor deal. US said the accord is another step toward receiving one FAA operating certificate next year that formally would merge the two carriers. Dec 26, 2006 US Airways 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. flew 4.97 billion combined RPMs in November, a 1% increase over the year-ago month. Capacity fell 2.3% to 6.39 billion ASMs and load factor climbed 2.6 points to 77.8%. Dec 19, 2006 US Airways, Delta Air Lines US Airways CEO Says Delta Offer Stands. US Airways has no immediate plans to boost or back off from its offer to buy Delta Air Lines, despite the bankrupt carrier's resistance, US Airways' chief executive said on Thursday. Dec 29, 2006 US Airways, Delta Air Lines US Airways Chairman and CEO Doug Parker said yesterday that the assumptions underlying Delta Air Lines' standalone reorganization plan are "out of whack" and that warnings of a US/DL merger being derailed by antitrust issues are "misleading" and "superficial.". In a wide-ranging conference call with analysts, Parker said US management felt it was necessary to respond strongly to US Airways's assertions that its standalone reorganization plan offered more value to creditors than US's $8 billion takeover proposal and that the US Dept. of Justice likely would reject a merger on antitrust grounds. Dec 22, 2006 WestJet WestJet flew 780.4 million RPMs in November, a 29% increase from the year-ago month. Capacity rose 27% to 1.06 billion ASMs and load factor climbed 1.5 points to 73.4%. Dec 21, 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 Dec 11, 2006 |
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