Airline Finance News - North America.Apr 2, 2007 Air Canada Air Canada and Jazz flew a combined 3.59 billion RPMs in February, a 5.6% increase from the year-ago month. Capacity climbed 3.7% to 4.51 billion ASMs and load factor was up 1.4 points to 79.6%. Mar 26, 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 parent 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. Corp. is planning to invest up to $100 million into its Maintenance Services group in an effort to bolster third-party business. It said the funding will be used to update facilities, invest in new technology and increase efficiencies. "In the past three years, we have worked with our [Transport Workers Union Transport Workers Union may refer to:
named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. MRO MRO In currencies, this is the abbreviation for the Mauritanian Ouguiya. 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. provider." AMR and the TWU TWU Texas Woman's University TWU Transport Workers Union TWU Trinity Western University TWU Two Worlds United TWU Texas Wesleyan University TWU Transport Workers Union of America TWU Telecommunications Workers Union , who shared ATW's Labor Management Relations Award this year, announced a goal last month of obtaining $175 million in customer revenue by year end. In 2006, AMR generated nearly $95 million in third-party revenue. Mar 29, 2007 American Airlines American contract negotiations continue amid stock payouts Stock payments to American Airlines executives may affect the company's contract negotiations with its pilots. The pilots agreed to pay cuts four years ago and hope to boost their pay in the next contract. Mar 27, 2007 Delta Air Lines Delta Air Lines consolidated passenger unit revenue rose 1.4% year-over-year. The airline said its length-of-haul adjusted PRASM was 95.5% of the US industry's average and it met the average on its domestic network. It said this week that "closing the 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 gap" was a key component of its restructuring. February unit cost fell 4.5% as operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. dropped 1.8% and capacity rose 2.8%. Mainline nonfuel 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 of 7.61 cents was down 7.6% Mar 29, 2007 Delta Air Lines Unit revenue improvements driving DL's surge to emergence, profitability In touting its restructuring at yesterday's Investor Day in Atlanta, Delta Air Lines said it expects to be profitable in its first year following emergence from bankruptcy protection, that it has succeeded in delivering on the "three pillars" of its transformation plan and that it remains interested in selling certain assets, including regional subsidiary Comair. Mar 28, 2007 Delta Air Lines Delta Air Lines posted net earnings of $55 million in February compared to a loss of $209 million in the year-ago month, which Executive VP and CFO See Chief Financial Officer. Edward Bastian said "demonstrate[s] the significant momentum we have created with our restructuring." However, DL recorded a $43 million loss excluding reorganization items, narrowed from a $138 million deficit in February 2006, and reported a $5 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. owing to owing to prep. Because of; on account of: I couldn't attend, owing to illness. owing to prep → debido a, por causa de a negative impact of fuel hedges. Mar 28, 2007 Delta Air Lines Delta expected to submit list of directors soon Delta Air Lines is expected to submit a proposed list of directors as soon as Friday. Naming the members of the board is a last step before Delta's 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. is approved. A new chairman for the board has been selected, and the board also includes several directors with chief executive experience, 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. media reports. Mar 27, 2007 Delta Air Lines Delta aims to return to profitability after bankruptcy Delta Air Lines plans to improve customer service and sell assets to increase shareholder value once it emerges from bankruptcy on April 30, the company said at an investor conference today. 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. 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. insisted now is not the time for major airline mergers, although that may come in several years. Mar 27, 2007 Delta Air Lines Delta expected to submit list of directors soon Delta Air Lines is expected to submit a proposed list of directors as soon as Friday. Naming the members of the board is a last step before Delta's reorganization plan is approved. A new chairman for the board has been selected, and the board also includes several directors with chief executive experience, according to media reports. Mar 27, 2007 Delta Air Lines Delta Air Lines, which plans to exit bankruptcy on April 30, said on Thursday it swung to a $55 million profit in February on reorganization-related gains but posted a loss on an operating basis. Delta expects $816M pretax income pretax income Reported income before the deduction of income taxes. Pretax income is sometimes considered a better measure of a firm's performance than aftertax income because taxes in one period may be influenced by activities in earlier periods. , exluding special, reorg items. Mar 27, 2007 Hawaiian Airlines Hawaiian Airlines told the US Securities and Exchange Commission yesterday that it expects first-quarter yield to fall 11%-12% from the 11.66 cents reported in the first quarter of 2006 owing to "intensified price competition" on services to the US mainland and the "continuing impact of increased industry capacity" on inter-island routes since Mesa Air Group's go! launched service last June . First-quarter capacity will rise 13.8% and load factor is expected to fall 0.6 point to 87%. Unit cost excluding fuel will drop 2.5%-3.5% from the 8.05 cents reported in the year-ago quarter. Mar 28, 2007 Hawaiian Airlines Hawaiian Airlines to outsource call center Mar 27, 2007 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 predicts Q1 loss, sees profit for full year Midwest Air Group expects to post a first-quarter loss but continues to predict a profit for the full year. CEO Timothy Hoeksema says demand for travel was weak in January and February. Mar 29, 2007 Northwest Airlines Northwest Flight Attendants Blocked From Striking. Flight attendants at Northwest Airlines may not strike, a federal appeals court ruled on Thursday, affirming a lower court ruling and lifting a cloud hanging over the bankrupt carrier. Mar 29, 2007 Northwest Airlines US DOJ (Department Of Justice) The legal arm of the U.S. government that represents the public interest of the United States. It is headed by the Attorney General. subpoenas Northwest in cargo probe. The DOJ has subpoenaed Northwest Airlines in an air-cargo price-fixing probe, the carrier said Wednesday. More than a dozen airlines have also been included in the investigation. An airline spokesman said the carrier is cooperating with the investigation. Mar 29, 2007 Northwest Airlines Northwest Airlines announced the withdrawal of a $129 million salaried employee unsecured claim from its reorganization plan. Under a new salaried equity plan covering 5,200 salaried and management employees, those below director level will receive cash and restricted stock worth $77.4 million. "This salaried equity plan will help ensure that Northwest retains a team of experienced salaried employees, and ties the interests of that team to the financial performance of our company," President and CEO Doug Steenland said. Mar 29, 2007 Northwest Airlines Northwest seeks creditors' vote on existing bankruptcy A bankruptcy judge ruled Monday that Northwest Airlines may start seeking approval of its plan to leave bankruptcy protection from its creditors. The plan values Northwest at about $7 billion. Mar 27, 2007 Northwest Airlines Northwest withdraws unsecured claim of $129M for salaried workers. Mar 27, 2007 Northwest Airlines Court approves Northwest disclosure statement; June emergence targeted Northwest Airlines' disclosure statement was approved by a 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. yesterday, clearing the way for the company to seek approval from creditors for its plan to emerge from Chapter 11 by the end of the second quarter with an anticipated equity value of $6.5-$7.7 billion. Mar 27, 2007 Northwest Airlines Pension agency wants Northwest to disclose liability The Pension Benefit Guaranty Corp. wants Northwest Airlines to disclose that it will remain responsible for pension liabilities Pension liabilities Future liabilities resulting from pension commitments made by a corporation. Accounting for pension liabilities varies widely by country. if it exits bankruptcy protection under its current plan. In a court filing, the agency said the disclosure is "critically important" to unsecured creditors. Northwest was not available for comment. Mar 26, 2007 United Airlines, Denver United will hire up to 100 Denver workers. United Airlines says adding more ramp workers and gate agents at its Denver hub will help it operate more efficiently. "We're trying to increase support for our customers," general manager Mike Scanlan says. "This will strengthen what we can provide during peak operational hours." Mar 29, 2007 US Airways US Airways completes debt refinancing. Mar 27, 2007 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. yesterday completed a $1.6 billion, seven-year debt refinancing transaction arranged by Citigroup Global Markets and Morgan Stanley Senior Funding that it said will improve "liquidity over the next seven years by reducing principal payments and lowering near-term interest expense." Upon finalization of the refinancing, US extinguished a $1.25 billion senior secured credit facility and a $325 million unsecured debt Unsecured debt Debt that does not identify specific assets that the debtholder is entitled to in case of default. facility. The additional $25 million made available by the loan will be used for "general corporate purposes." The refinancing will reduce the company's debt amortization by approximately $92 million annually in 2008-10 and $1.234 billion in 2011. In addition, interest expenses will be lowered by approximately $14 million in 2007 and $13 million in 2008. Senior VP and CFO Derek Kerr said the refinanced loan allows the carrier to "meet our primary objectives of reducing borrowing costs, deferring debt maturities and reducing our covenant package." Mar 27, 2007 US Airways US Airways executives position carrier for future Executives at US Airways are working to move US Airways and America West to a single operating certificate. Their goals also include replacing older planes, negotiating new labor agreements, improving service and adding foreign destinations. Mar 26, 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 26, 2007 |
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