Airline Finance News - North America.Apr 16, 2007 Air Canada Air Canada said that an arbitrator awarded approximately 6,000 flight attendants represented by the Canadian Union of Public Employees The Canadian Union of Public Employees (CUPE, French: Syndicat canadien de la fonction publique) is a Canadian trade union serving the public sector - although it has in recent years organized workplaces in the non-profit and para-public sector as well. a 2% wage increase effective July 2006, another 1.75% increase effective in July 2007 and an additional 1.75% in July 2008. "With receipt of this decision, the wage review process agreed to with all labor groups in 2003 has concluded," Air Canada said. Apr 12, 2007 Air Canada Air Canada flew 3.94 billion RPMs in March, up 5% on the year-ago month. Capacity rose 2% to 4.7 billion ASMs, lifting load factor 2.4 points to 83.8% Apr 10, 2007 AirTran Airways AirTran Airways is a low-cost airline that is a Delaware corporation with headquarters in Orlando, Florida, USA and is a subsidiary of AirTran Holdings. AirTran operates over 750 daily flights throughout the eastern USA and the Midwest, including over 270 daily departures from , Midwest AirTran faces strike three, calls Midwest 'delusional' The board of 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,. reviewed and unanimously rejected AirTran Holdings' third merger proposal last week, prompting the Atlanta-based carrier to label its target "irresponsible" and "delusional" in a Friday statement. Apr 13, 2007 Alaska Airlines Alaska Airlines, (NYSE: ALK) is an airline based in Seattle, Washington, United States. It operates hubs at Seattle-Tacoma International Airport, Ted Stevens Anchorage International Airport, Los Angeles International Airport, and Portland International Airport. Alaska Airlines flew 1.53 billion RPMs in March, a 0.5% increase from the year-ago month. Capacity was up 2.3% to 1.99 billion ASMs and load factor dropped 1.4 points to 76.8%. Apr 11, 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 reminds unions of labor laws Plans by unions to protest executive bonuses prompted American Airlines to send letters to the unions reminding them of labor laws. Federal laws forbid employees from disrupting carriers' operations. "We expect the unions will respect the law, and they're free to express their opinions as they see fit within the law itself," an American spokeswoman says. Apr 12, 2007 American Airlines American may benefit from open-skies agreement Four U.S. carriers have announced routes they hope to fly from London's Heathrow Airport. Meanwhile, American Airlines hasn't indicated any new plans, and observers say it could be hurt by the increased competition. However, American officials say American could benefit from the new open-skies agreement because the agreement allows code-sharing flights. Apr 10, 2007 American Airlines American Airlines faces labor relations challenges Some employees at American Airlines are criticizing bonuses paid to executives. However, officials at the airline say its level of executive compensation is similar to other airline and non-airline companies. American is also on track to make profit-sharing payments to employees this year. Apr 9, 2007 Continental Airlines Continental Airlines contributed an additional $30 million in cash to its defined benefit pension plans, bringing its year-to-date contribution to $136 million. It expects to put in $320 million this year. Apr 12, 2007 Continental Airlines Continental Airlines announced the sale of $1.15 billion worth of pass-through certificates Pass-Through Certificates (PTCs) are instruments that evidence the ownership of two or more Equipment Trust Certificates. In other words, Equipment Trust Certificates may be bundled into a pass-through structure as a means of diversifying the asset pool and/or increasing the size , issued in three separate series, that will be used to finance its purchase of 30 Boeing 737-800s and 737-900ERs scheduled for delivery in the January 2008-March 2009 timeframe. The proceeds initially will be held in escrow by an unidentified depository institution Depository institution A financial institution that obtains its funds mainly through deposits from the public. This includes commercial banks, savings and loan associations, savings banks and credit unions. . The escrowed funds will be used to acquire equipment notes issued by CO to finance the aircraft. The three classes have coupons of 5.983%, 6.903% and 7.339% per annum Per annum Yearly. . Apr 11, 2007 Delta Air Lines Delta completes renovation of Atlanta lobby: Delta Air Lines has finished the $26 million renovation of its lobby at the Atlanta airport. The lobby now features 12,500 square feet of open space, several baggage drop areas and multilingual signs. Apr 12, 2007 Delta Air Lines Creditors object to Delta's restructuring plan More than a dozen Delta Air Lines creditors have filed objections to the airline's restructuring plan. The airline says procedural objections are common and that Delta executives remain confident the carrier will exit bankruptcy this month. Apr 11, 2007 Delta Air Lines Republic Airways Holdings Republic Airways Holdings, Inc. (NASDAQ: RJET) is an aviation holding corporation based in Indianapolis, Indiana, which owns three regional airlines operating in the United States: Chautauqua Airlines, Republic Airlines and Shuttle America. announced the sale of its $91 million pre-petition unsecured creditor Unsecured Creditor An individual or institution that lends money without obtaining specified assets as collateral. This poses a higher risk to the creditor because they have nothing to fall back on should the borrower default on the loan. A debenture holder is an unsecured creditor. claim in Delta Air Lines' bankruptcy for $44.6 million. The transaction will close April 11. Republic subsidiaries Chautauqua Airlines Chautauqua Airlines is an airline based in Indianapolis, Indiana, USA. It operates scheduled passenger services on more than 670 flights daily to cities in 30 states, Canada and the Bahamas, through feeder services under the names Delta Connection for Delta Air Lines, and Shuttle America Shuttle America is a major airline based in Indianapolis, Indiana, USA. It feeds United Airlines flights at Chicago, Denver, and Washington as United Express, and feeds Delta Air Lines flights at Atlanta and New York as Delta Connection. operate as Delta Connection. Apr 10, 2007 Delta Air Lines Republic Sells Delta Bankruptcy Claim Republic Airways said on Monday it has sold 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. $91 million unsecured creditor claim in Delta Air Lines' bankruptcy case to an unidentified buyer for USD$44.59 million. Apr 10, 2007 Delta Air Lines Delta prepares to leave bankruptcy protection this month Creditors are expected to approve Delta Air Lines' restructuring plan, but the real challenge for the airline will arrive when it emerges from bankruptcy protection at the end of this month. Higher fuel prices and stiff competition could affect the airline's progress. "You get out of bankruptcy, and it's easy to get fat," Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. James Whitehurst says. "We have to continue to think [about] the 100 things we didn't do" during bankruptcy protection. Apr 9, 2007 Delta Air Lines Delta Air Lines will take over Atlantic Southeast Airlines' customer service and ground operations in Atlanta from June 1. It took over for Chautauqua Airlines, Shuttle America and Freedom Airlines last year. "Our customers expect and deserve a convenient, reliable travel experience onboard all Delta and Delta Connection flights," Executive VP-Operations Joe Kolshak said. 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 had the second-worst ontime arrival rate (66.9%) of the 20 reporting carriers in the US Bureau or Transportation Statistics' January report. Apr 9, 2007 Delta Air Lines Delta prepares to leave bankruptcy protection this month Creditors are expected to approve Delta Air Lines' restructuring plan, but the real challenge for the airline will arrive when it emerges from bankruptcy protection at the end of this month. Higher fuel prices and stiff competition could affect the airline's progress. "You get out of bankruptcy, and it's easy to get fat," Chief Operating Officer James Whitehurst says. "We have to continue to think [about] the 100 things we didn't do" during bankruptcy protection. Apr 9, 2007 Delta Air Lines, Air France-KLM Air France-KLM (Euronext Paris: AF, NYSE: AKH) is an airline company incorporated under French law with its headquarters at Roissy-Charles de Gaulle Airport near Paris, France. Air France Air France in full Compagnie Internationale Air France French passenger and cargo airline with more than 200 destinations in some 80 countries. It introduced supersonic Concorde service in 1976, but financial loss led the company to cease its Concorde Denies Interest In US Partners Air France-KLM denied on Thursday a report it may acquire minority stakes in US partner carriers Delta Air Lines and Northwest Airlines. Apr 12, 2007 Hawaiian Airlines Hawaiian Airlines led US carriers with a 93.8% ontime percentage in March, according to data compiled by FlightStats. Among continental carriers, Horizon Air (86.8%) and Southwest Airlines (84.4%) were the most punctual punc·tu·al adj. 1. Acting or arriving exactly at the time appointed; prompt. 2. Paid or accomplished at or by the appointed time. 3. Precise; exact. 4. of the 39 measured. Worst ontime rates belonged to Midwest Connect (13.3%) and US Airways (56.6%). Sun Country Airlines was the only carrier not to cancel a single flight, while Midwest Connect cancelled 8.7% and Northwest Airlink 4.9%. Apr 11, 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 Mesa Air Group 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. Jonathan Ornstein said hiring enough employees to keep pace with growth, much of which is within his own company, will be one of the most significant challenges facing regional airlines this year. Apr 13, 2007 Mesa Air Group Shenzhen, Mesa to challenge HNA HNA Hereditary Neuralgic Amyotrophy HNA Hawaii Nurses Association HNA High North Alliance HNA Morioka, Japan - Hanamaki (Airport Code) HNA Hospice Nurses Association (now Hospice and Palliative Nurses Association) Group's new regional with Kunpeng Airlines The regional joint venture between Shenzhen Airlines and Mesa Air Group, announced last December, will be called Kunpeng Airlines and will launch operations in Xi'an with three CRJ CRJ Canadair Regional Jet CRJ Chiropractic Research Journal CRJ Commission for Racial Justice CRJ Cylinder Reduction Jumper 200s at year end. Apr 11, 2007 Mesa Air Group Mesa Air Group named Freedom Airlines President and Senior VP-West Coast Operations Mike Ferverda as COO of its JV with Shenzhen Airlines, Bombardier Flexjet VP-Marketing Tom Bacon as VP-planning, VP-East Coast Operations Jorn Bates Bates , Katherine Lee 1859-1929. American educator and writer best known for her poem "America the Beautiful," written in 1893 and revised in 1904 and 1911. as Freedom COO, Director-MRO Services Gary Appling as VP-technical services and purchasing, Director-Corporate Development Jeff Bethune as VP-financial planning and analysis and Adam Wilensky as director-planning. Apr 9, 2007 Mesaba Airlines Court confirms Mesaba'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. Mesaba Airlines said Tuesday 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. has confirmed its reorganization plan. The airline expects to leave bankruptcy protection later this month. "Today's confirmation of our plan by the bankruptcy court validates 18 months of work to make Mesaba a sustainable regional carrier, positioned to become a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Northwest Airlines," President John Spanjers said. Apr 11, 2007 Northern Lights Airlines Northern Lights Airlines is the name of a new charter carrier being established in Canada, led by majority investor ICBS ICBS International Committee of the Blue Shield ICBS Incorporated Church Building Society ICBS International Conference of Banking Supervisors ICBS International Cigar Band Society ICBS Inter-Connected Business System Ltd., which will own 50%. ICBS said the airline will launch in October and "exploit a gap in the long-haul international travel market that exists in low-cost, high-comfort and high-quality service originating in Montreal and Toronto." It said the market remains underserved despite the presence of Skyservice Airlines, Zoom Airlines and Air Transat. No information was provided regarding equipment. Apr 11, 2007 Northwest Airlines Judge appoints new examiner in Northwest case A judge has appointed a new examiner to investigate the Northwest Airlines bankruptcy case. The first examiner resigned one day after the judge approved his appointment. The examiner will determine whether Northwest properly valued its assets. Apr 12, 2007 Northwest Airlines Senators blast airlines, push passenger rights legislation US Sen. Barbara Boxer (D-Calif.), a leading advocate for legislation that would establish a federal "Passenger Bill of Rights," told Air Transport Assn. President and CEO James May during a Senate hearing yesterday that he was "living in a dream world" and blasted airlines that have not "lived up" to voluntary customer service rules they claimed to adopt in 1999 after 4,000 passengers were stranded on Northwest Airlines' aircraft for up to 8 hr. during a Detroit snowstorm. Apr 12, 2007 Northwest Airlines Delta, Northwest Shares Poised To Be At Head Of Pack Delta Air Lines and Northwest Airlines are set to emerge from bankruptcy as two of the highest valued airlines in the United States, but softening travel demand and rampant competition could send them crashing down again. Apr 10, 2007 Northwest Airlines Judge may rule this week on Northwest union dispute A federal bankruptcy judge may rule this week on a request by Northwest Airlines flight attendants that their contract be put back in place. The judge allowed Northwest to terminate the contract in June. In a court filing, Northwest said the flight attendants' "redress is in the bargaining room," not the courts. Apr 9, 2007 Northwest Airlines Northwest Airlines flew 7.02 billion consolidated RPMs in March, a 1.3% rise from the year-ago month, as domestic traffic climbed 3.1% and international rose 1.4%. Regional traffic declined 12.9%. Capacity was up 1.8% to 8.19 billion ASMs on a 2.6% domestic increase and a 3.7% rise in international ASMs. Load factor fell 0.4 point to 85.7%. Domestic loads rose 0.4 point to 84.9% and international dropped 2.1 points to 89%. Apr 9, 2007 Republic Airlines Republic Airlines flew 671.3 million RPMs in March, up 24.2% on the year-ago month. Capacity rose 24.5% to 885.8 million ASMs and load factor fell 0.1 point to 75.8%. Apr 11, 2007 Texas Pacific Group Texas Pacific Group reportedly is considering raising its bid for Iberia from [logical not]3.60 per share to[logical not]4.03, which would lift its valuation of the Spanish carrier to [logical not]3.8 billion, according to airline sources cited by El Mundo. The IB board is scheduled to decide this week on TPG's approach and request for information Apr 11, 2007 US Airways US Airways stays on profit track despite first-quarter disruptions Despite a rough winter in the US Northeast and glitches related to last month's reservation system migration, 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. still expects to report a first-quarter profit. Apr 10, 2007 US Airways, Delta Air Lines, AirTran Airways US consolidation begins with ATA (1) (AT Attachment) The specification for IDE drives. See IDE. (2) See analog telephone adapter. ATA - Advanced Technology Attachment acquisition of World Air Airline consolidation in the US began last week on a smaller scale than the failed mega-merger between US Airways and Delta Air Lines and AirTran Airways' contentious pursuit of Midwest Air Group as ATA Airlines parent ATA Holdings bought out World Air Holdings, parent of World Airways and North American Airlines North American Airlines is an American airline based in New York City, USA. It operates scheduled international services from the USA to Africa and Guyana, as well as domestic and international charter services and wet lease services. Its main base is John F. , for $315 million in cash or $12.50 per share. Apr 9, 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. Apr 9, 2007 |
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