Airline Finance News - North America.Mar 26, 2007 Carriers employ fewer workers in January Fewer people worked for U.S. airlines in January compared with the same month in 2006, 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. government statistics. The carriers employed 403,300 workers in January, down from 405,500 last year. The decline is the smallest since December 2004. Mar 21, 2007 US airlines' capacity is expected to grow 2.8% and traffic 3.4% in 2007, FAA forecasts. Mainline domestic capacity is expected to increase 2.1% in 2007 and 3.6% in 2008. Mar 19, 2007 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 said in a filing with the US Securities and Exchange Commission that first-quarter mainline passenger 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 will increase 3.5%-4.5% year-over-year and consolidated unit revenue will rise 2.7%-3.7% from last year's 10.26 cents. Consolidated unit cost, which was 11.46 cents in January and 11.84 cents in February, is expected to come in at 11.52 cents for the quarter and 11.51 cents for the year, up from 10.90 cents in 2006. Consolidated 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 fuel is forecast at 8.42 cents for the first quarter and 8.19 cents for the year, up from 7.82 cents in 2006. Mainline CASM is forecast at 10.91 cents for the quarter and 10.90 cents for the year, or 7.89 cents and 7.67 cents excluding fuel. The increase in nonfuel CASM from previous forecasts was "mostly attributable" to this quarter's weather-related cancellations, AA said. Mar 21, 2007 American Airlines AA flew 9.73 billion system RPMs in February, down 1.3% from the year-ago month. Capacity dropped 3.2% to 12.72 billion ASMs and load factor rose 1.5 points to 76.5%. Domestic RPMs declined 2.6% to 6.47 billion against a 3.8% fall in ASMs to 8.18 billion, raising load factor 1 point to 79%. International traffic rose 1.2% to 3.26 billion RPMs, capacity fell 2.2% to 4.54 billion ASMs and load factor climbed 2.4 points to 71.8%. Mar 21, 2007 Continental Airlines US legacy airlines do not plan to ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale capacity this year despite posting their best full-year financial results since 2000. "I think you'll continue to see very modest capacity growth, particularly domestically," Continental Airlines 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. Larry Kellner Lawrence W. "Larry" Kellner (born 1959) has been CEO of Continental Airlines since December 2004, when former CEO Gordon Bethune retired. He previously served as a vice president, chief financial officer and chief operations officer for the airline[1]. told the JP Morgan Aviation and Transportation Conference, available via webcast, this week. Mar 23, 2007 Continental Airlines Continental has no plans to merge, CEO says Continental Airlines has no plans to merge with another airline as long as the industry remains in its current state, CEO Larry Kellner said Wednesday. "My general belief is that if the industry stays as it is, we don't see huge benefits in consolidation for us," Kellner said. "We are very well-positioned competitively." Mar 22, 2007 Delta Air Lines Delta Air Lines flew 7.94 billion system RPMs in February, a 2.6% increase over the year-ago month. Capacity rose 2.8% to 10.71 billion ASMs and load factor dipped 0.2 point to 74.1%. Domestic RPMs fell 5% to 5.65 billion against a 5% decline in ASMs to 7.46 billion, leaving load factor at 75.8%. International traffic rose 27.7% to 2.89 billion RPMs, capacity grew 27% to 3.26 billion ASMs and load factor was up 0.4 point to 70.3%. Mar 23, 2007 Delta Air Lines No windfall for CEO when Delta exits bankrupcty The CEO of Delta Air Lines will not receive stock, severance or incentive payments when the company leaves bankruptcy protection. Gerald Grinstein Gerald Grinstein is the former CEO of Delta Air Lines, Inc. of Atlanta, Georgia, the world's second largest airline. Grinstein came to the position in 2004, after CEO Leo F. is expected to retire when Delta's board selects a new CEO. Delta plans to distribute about $995 million to nonunionized employees and managers within 12 to 14 months of leaving bankruptcy. Mar 20, 2007 Delta Air Lines Delta Plans 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. $720 Mln Staff Payout Delta Air Lines plans to reward employees and managers, but not its chief executive, with about USD$720 million in cash and stock when it exits bankruptcy in the coming weeks, the airline said. Mar 20, 2007 Delta Air Lines Delta Air Lines said last week that it filed its election to obtain the benefit of the pension funding relief provided in the Pension Protection Act for the defined benefit retirement plan covering ground employees and flight attendants and that it made a voluntary $50 million contribution to the plan. It expects to contribute an additional $50 million this year as part of the funding schedule mandated by the new federal law. Mar 19, 2007 Menzies Aviation Menzies Aviation parent John Menzies John Menzies plc is a Scottish business established in 1833. It has two main divisions: Menzies Distribution and Menzies Aviation. Menzies Distribution is a major distributor of newspapers and magazines throughout the United Kingdom. plc yesterday announced the resignation of CEO Patrick Macdonald while reporting a 9% year-over-year drop in its full-year profit to [pounds sterling]35.8 million ($69.6 million). Menzies Aviation was the company's best-performing unit, posting a 25% rise in profit to [pounds sterling]16.6 million. It did not announce a successor. Mar 21, 2007 Mesa Air Group Mesa Air Group (NASDAQ: MESA) is a Nevada Corporation[1] commercial aviation holding company with headquarters in Phoenix, Arizona. The company operates three regional airline subsidiaries: Mesa Airlines, Freedom Airlines, and Air Midwest, and five supporting US District Court in Hawaii denied a request by Mesa Air Group to dismiss a complaint filed by its inter-island competitor, Aloha Airlines Aloha Airlines is an American airline headquartered in Honolulu, Hawaii USA. It operates extensive scheduled services within the Hawaiian Islands, and between Hawaii and the West Coast of the United States. , which accused Mesa of predatory pricing Predatory pricing (also known as destroyer pricing) is the practice of a firm selling a product at very low price with the intent of driving competitors out of the market, or create a barrier to entry into the market for potential new competitors. and fraud. Aloha and rival Hawaiian Airlines Hawaiian Airlines is the 11th largest commercial airline in the United States. It is the largest airline based in the State of Hawai'i and is commonly referred to by the acronym "HAL". each allege that Mesa illegally used proprietary information acquired when considering acquiring or investing in the bankrupt island carriers for last summer's launch of its low-cost go! subsidiary. "Aloha is not challenging the prices, per se, but rather it is challenging the means by which Mesa was able to determine those prices, i.e., through breaching its contract and implied covenant of good faith and fair dealing implied covenant of good faith and fair dealing n. a general assumption of the law of contracts, that people will act in good faith and deal fairly without breaking their word, using shifty means to avoid obligations, or denying what the other party obviously with Aloha," Judge David Ezra wrote. Mar 23, 2007 Northwest Airlines Judge postpones ruling on Northwest pay dispute A bankruptcy judge on Wednesday delayed ruling on whether Northwest Airlines flight attendants should receive a claim of $1.1 billion and whether their pay cuts should be reduced. The judge said he has to consider whether the company's rejection of the workers' contract violated non-bankruptcy labor laws. Mar 22, 2007 Northwest Airlines Agreements may allow Northwest attendants to recover losses A profit-sharing program, company performance-incentive program and a bankruptcy claim may allow Northwest Airlines flight attendants to recover some of the pay cuts they took during the carrier's bankruptcy filing, a Northwest executive said Tuesday. The union representing the workers will argue today in court that the workers should receive a $1.1 billion bankruptcy claim. Mar 21, 2007 Northwest Airlines Northwest attendants urge carrier to disclose executive compensation Northwest Airlines flight attendants want the company to disclose how much executives and directors will be paid when the airline leaves bankruptcy protection. The airline disclosed financial details in a filing on Feb. 15 but did not include details on executive pay. Mar 20, 2007 Southwest Airlines This article is about the American airline. For the former Japanese airline, see Japan Transocean Air. For the British airline, see Air Southwest. Southwest Airlines Co. Southwest Airlines authorized a new share repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. program to buy back $300 million worth of common stock, or an estimated 20.2 million shares. CEO Gary Kelly
Gary Kelly (born 9 July 1974 in Drogheda) is a retired Irish professional footballer who played his whole career for Leeds United. said WN has repurchased 62.1 million shares worth $1 billion since the beginning of 2006. Mar 19, 2007 United Airlines Airline still supports industry consolidation United Airlines is still a proponent of airline industry consolidation, Chief Financial Officer Jake Brace said today. However, he said it remains to be seen whether any U.S. airlines will move to merge as early as this year. Mar 21, 2007 United Airlines United CEO supports proposed open skies agreement The Open Skies Agreement is a recently negotiated treaty between the United States and the European Union. The agreement will allow any European or U.S. airline to fly any route between any city in the EU and any city in the United States. United Airlines' CEO says the company supports the proposed open skies agreement. Glenn Tilton Glenn Tilton (born April 1948 in Washington, DC) is the Chairman, President, and CEO of UAL Corporation, the parent company of United Airlines. He has held this role since September 2002, 3 months before UAL Corp. filed for Chapter 11 bankruptcy protection. says the agreement will benefit consumers in the U.S. and the EU. If approved, the agreement will open London's Heathrow airport to competition from more airlines. United operates flights out of Heathrow Mar 20, 2007 United Airlines United Boss Supports 'Open Skies' The head of United Airlines voiced support for a transatlantic air travel pact even though the company will have to confront the same prospect of new competition as British Airways British Airways in full British Airways PLC International passenger airline based in London. In 1936 British Airways Ltd. was founded through the merger of three smaller airlines. and Virgin Atlantic. Mar 20, 2007 US Airways The 11 largest US carriers (including America West Airlines America West Airlines was one of the United States' ten major airlines. The airline was based in Tempe, Arizona, and is now a part of US Airways Group. At the time of its integration into US Airways, the airline maintained two hubs, one at Phoenix Sky Harbor International , part 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. ) reported a 1% decrease in domestic capacity in 2006. American Airlines Chairman and CEO Gerard Arpey agreed that capacity growth again will be minimal, revealing that AA plans a 1% domestic capacity reduction in 2007. "We're filling a greater number of seats than ever before and we're doing it without giving away the store," he said, noting AA's 80% load factor. "We've reached some hard truths about what customers are willing to pay for." Mar 23, 2007 US Airways US Airways Q1 Severe weather on the East Coast and issues in merging its reservation systems will hurt US Airways first-quarter results, President Scott Kirby said Wednesday. Kirby said the airline has resolved most of the problems that stemmed from changing over from US Airways' reservation system to one used by America West. Mar 22, 2007 Z Editor: Aram Gesar, eMail: edit@AirGuideOnline.com For Air Transport & Travel Business Experts contact eMail: bizintel@AirGuideOnline.com For more global news, reviews, features and analysis, please subscribe to our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com AirGuideFlightTracker is a new, free service that aims to keep travelers informed flight and airport status via the Web. For more go to http://www.airguideonline.com/airline_tracker.htm Copyright [c] 2007 Air Travel Media / Pyramid Media Group. All rights reserved. Mar 19, 2007 |
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