Airline Finance News - North America.Apr 23, 2007 Rep. Barney Frank Barnett "Barney" Frank (born March 31, 1940) is an American politician and a member of the United States House of Representatives. He is a Democrat and has represented Massachusetts's At-large congressional district since 1981. (D-Mass.) has proposed legislation that would require public companies to include in their annual proxies a nonbinding advisory shareholder vote on executive pay plans. "It would put some transparency in the process, give shareholders a voice in executive compensation," Little explained. "We don't begrudge be·grudge tr.v. be·grudged, be·grudg·ing, be·grudg·es 1. To envy the possession or enjoyment of: She begrudged him his youth. See Synonyms at envy. 2. what they obtain for a salary based on what they are doing. But it's not fair and equitable for other employees who work for them." Apr 18, 2007 Rising fuel costs continue to challenge carriers U.S. airlines continue to feel pressure from rising fuel costs. Higher crude prices have prompted some airlines to raise estimates for what they expect to pay for jet fuel in 2007. Apr 18, 2007 Airlines expected to report small Q1 profits Airlines are expected to post a small profit in the first quarter, 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. Wall Street analysts. Most airlines generated positive cash flows in February and March. JPMorgan analyst Jamie Baker
Jamie Baker (born August 31, 1966 in Nepean, Ontario) is a Canadian former hockey player, having played for the Quebec Nordiques, Ottawa Senators, San Jose Sharks and says the industry's outlook remains positive into 2008. Apr 17, 2007 Airline travelers pay bulk of taxes for air transit system: Even the most seasoned traveler may not understand all the taxes involved with air travel. Most of the federal excise taxes excise taxes, governmental levies on specific goods produced and consumed inside a country. They differ from tariffs, which usually apply only to foreign-made goods, and from sales taxes, which typically apply to all commodities other than those specifically exempted. used to finance the nation's air transit system are paid by airline passengers. Apr 16, 2007 Aeroflot Aeroflot transported 604,500 passengers in March, up 23.4% from the year-ago month. Traffic grew 20.5% to 1.86 billion RPKs and load factor was 67.2%. Apr 20, 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 posts Q1 profit of $81M American Airlines on Wednesday reported a first-quarter profit of $81 million. A year ago, the company lost $92 million. The airline said its international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. posted strong results during the quarter. "While we must continue to improve our financial performance, we believe our results show that we have started 2007 on the right track," 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. Gerard Arpey Gerard J. Arpey is the Chairman, President, and Chief Executive Officer (CEO) of AMR Corporation, parent company to American Airlines, the world's largest airline. External links
American Airlines 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. reported first-quarter net income of $81 million, reversed from a net loss of $92 million in the year-ago period, marking its fourth consecutive profitable quarter and its first opening quarter in the black since 2000. Apr 19, 2007 American Airlines American Posts Profitable First Quarter. American Airlines parent AMR today reported a first-quarter profit of $81 million on the wings of high load factors and growing passenger revenue. Apr 18, 2007 American Airlines Airlines face higher labor costs as they prepare to negotiate contractsAirline workers hope to regain some of the $10 billion in annual concessions they have made since 2002. Contracts at American Airlines will reopen in 2008, and the agreement that covers pilots at the former America West will reopen in June. One analyst noted that by the end of the decade, labor costs will have increased by $5 billion each year. Apr 18, 2007 American Airlines In written testimony sent to the House Judiciary subcommittee on commercial and administrative law administrative law, law governing the powers and processes of administrative agencies. The term is sometimes used also of law (i.e., rules, regulations) developed by agencies in the course of their operation. , United Airlines flight attendant Antoinette Muoneke said, "I cannot escape the conclusion that executives used the bankruptcy laws to enrich themselves at the expense of workers like me." Meanwhile, American Airlines cabin staff will carry out informational picketing today at 18 airports to protest executive bonuses and stock awards. "In 2003, all American employees stepped up to the plate and wouldn't take bankruptcy for an answer," Assn. of Professional Flight Attendants President Tommie Hutto-Blake said. "Now we are asking our company to make good on their promise to share the rewards of our labor that flight attendants and all employees have worked so hard to gain." According to APFA APFA American Professional Football Association (now National Football League) APFA Association of Professional Flight Attendants APFA Abortion Providers' Federation of Australasia APFA American Pipe Fittings Association, Inc. , a group of some 874 "elite executives" at American Airlines parent AMR Corp. received an estimated $200 million in stock awards. Apr 18, 2007 American Airlines American cuts costs without resorting to bankruptcy. American Airlines has managed to lower its costs without filing for bankruptcy protection. The airline negotiated large pay cuts, changes to work rules and reduced benefits with three union groups. Other airlines weren't able to negotiate cuts and filed for bankruptcy protection. Apr 17, 2007 American Airlines, United Airlines, 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. Flight attendants from American Airlines, United Airlines and Southwest Airlines are joining forces to protest executive compensation they consider unfair when measured against the benefits and wages lost by front-line employees over the past few years. While the pay packages of airline CEOs have made headlines, employee groups are coming forward to ask Congress to bring more transparency to executive compensation, according to James Little, international president of the Transport Workers Union Transport Workers Union may refer to:
Continental Airlines Continental posts $22 million profit in first quarter Continental Airlines reported a first-quarter profit of $22 million, exceeding analysts' expectations. The airline said severe winter storms reduced its quarterly revenue by $10 million. Apr 20, 2007 Continental Airlines Continental Airlines reported first-quarter net income of $22 million, reversed from a net loss of $66 million in the year-ago quarter, on a 7.9% lift in revenue to $3.18 billion. Apr 20, 2007 Continental Airlines Continental Airlines on Thursday posted a higher than expected first-quarter profit helped by fuller planes, higher fares and a slight decline in fuel prices. Apr 19, 2007 Delta Air Lines Creditors overwhelmingly approve Delta reorganization. Delta Air Lines' 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. received overwhelming support from creditors, according to official results. Delta will ask a court to approve the plan on April 25, and it plans to leave bankruptcy protection at the end of this month. Apr 20, 2007 Delta Air Lines Travelers will benefit as Delta exits bankruptcy Delta Air Lines' exit from bankruptcy protection is good news for travelers and for the airline industry, the Daytona Beach Daytona Beach (dātō`nə), city (1990 pop. 61,921), Volusia co., NE Fla., on the Atlantic coast and Halifax River (a lagoon); inc. 1876. Center of a rapidly urbanizing area, in a region settled by Spanish Franciscans in the 17th cent. News-Journal editorial board writes. "Give outgoing CEO 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. credit for much of the turnaround -- and for taking a massive cut in his own pay and refusing 'golden parachutes' even as he was asking Delta employees to accept reduced compensation packages," the board writes. "The payoff for his stewardship: an airline that survived, against heavy odds, and now faces a chance to start anew." Apr 18, 2007 Delta Air Lines Delta Air Lines said yesterday that more than 95% of its creditors cast ballots in favor of its Plan of Reorganization. It is eyeing emergence from bankruptcy on April 30. The results are unofficial, with the final tally to be filed later this week with 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. . DL will ask the court to confirm and approve its reorganization plan at an April 25 hearing, which is widely expected given the overwhelming support from creditors. Apr 17, 2007 Delta Air Lines Delta creditors approve reorganization Unofficial voting results show Delta Air Lines creditors have approved the carrier's reorganization plan. Approval will allow the airline to emerge from bankruptcy protection April 30. Creditors also approved Comair's reorganization plan. "We appreciate our creditors' strong vote of confidence in our plan, which we believe both maximizes their recovery and builds a foundation for Delta's long-term success," Chief Financial Officer Ed Bastian said Monday. Apr 17, 2007 Delta Air Lines Delta Air Lines pilots, represented by the Air Line Pilots Assn., opted to cash in most of their $2.1 billion unsecured claim against the carrier, with members accounting for 92% of the claim voting to take 60.05 cents on the dollar rather than stock in the reorganized airline. A total of $1.16 billion will be distributed to those pilots "shortly after" DL emerges from bankruptcy this quarter, MEC MEC Ministério da Educação (Ministry of Education) MEC Ministerio de Educación y Ciencia (Spain: Ministry for Education and Science) MEC Mountain Equipment Co-Op Chairman Lee Moak wrote in a letter last week. Apr 16, 2007 Delta Air Lines Delta board to select next chief executive. The new board of Delta Air Lines will decide who will serve as the airline's next chief executive officer after the carrier exits bankruptcy protection. Outgoing CEO Gerald Grinstein will step down once the board selects his replacement, and he declined to put a timetable on the selection. "It's better to be right than to be fast," Grinstein said. Apr 16, 2007 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". Hawaiian Airlines flew 679 million scheduled-service RPMs in March, a 22.1% increase from the year-ago month. Capacity climbed 17.2% to 745.4 million ASMs, lifting load factor 3.6 points to 91.1%. Apr 16, 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 airlines flew 630.2 million RPMs in March, up 3.4% from the year-ago month. Capacity rose 2.3% to 801.3 million ASMs and load factor climbed 0.9 point to 78.7%. Apr 20, 2007 Mesa Air Group Mesa growing despite potential labor shortage A Labor shortage is an economic condition in which there are insufficient qualified candidates (employees) to fill the market-place demands for employment at any price. This condition is sometimes referred to by Economists as "an insufficiency in the labor force. Mesa Air Group Chairman and CEO 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 17, 2007 Midwest Airlines Midwest Airlines and Midwest Connect flew 403.8 million RPMs in March, up 8.1% on the year-ago month. Capacity rose 6.3% to 494.1 million ASMs and load factor increased 1.4 points to 81.7%. Apr 19, 2007 Northwest Airlines Northwest Airlines flight attendants, represented by the Assn. of Flight Attendants-CWA, suffered what the union called a "shocking and swiping blow" last Friday when a US Bankruptcy Court judge upheld a Circuit Court ruling that the airline had a right to reject its collective bargaining agreement The contractual agreement between an employer and a Labor Union that governs wages, hours, and working conditions for employees and which can be enforced against both the employer and the union for failure to comply with its terms. with cabin staff despite its economic recovery, as well as NWA's effort to deny AFA's two proofs of claim worth $1.2 billion. The former "has no basis in law," Judge Allan Gropper wrote, and the claim is invalid as NWA's abrogation The destruction or annulling of a former law by an act of the legislative power, by constitutional authority, or by usage. It stands opposed to rogation; and is distinguished from derogation, which implies the taking away of only some part of a law; from Subrogation, of the CBA See Capital Builder Account. was lawful. Apr 17, 2007 Pinnacle Airlines Pinnacle Airlines flew 386.8 million RPMs in March, up 8.5% on the year-ago month. Capacity rose 9.2% to 508.3 million ASMs and load factor fell 0.5 point to 76.1%. Apr 19, 2007 SkyWest Airlines, Atlantic Southeast Airlines For the defunct low-fare airline, see . Atlantic Southeast Airlines (ASA) is a fully certificated American airline based in Atlanta, Georgia, USA flying to 144 destinations as a Delta Connection carrier. It is a wholly owned subsidiary of SkyWest, Inc. SkyWest Airlines and Atlantic Southeast Airlines flew a combined 1.53 billion RPMs in March, up 10.9% on the year-ago month. Capacity rose 13% to 1.91 billion ASMs and load factor fell 1.6 points to 79.8%. Apr 16, 2007 ZZ 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 16, 2007 |
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