Airline Finance News - North America.May 14, 2007 Lower oil prices cause airline stocks to soar Easing oil prices have helped lift airline stocks, which showed improvement on the market Monday. Jet fuel is one of the top expenses for the airlines, making airline shares very sensitive to crude swings. May 8, 2007 Airlines support replacing outdated ATC ATC Air Traffic Control ATC Average Total Cost ATC Certified Athletic Trainer ATC At the Center (Hartford, Maine retreat center) ATC Applied Technology Council ATC All Things Considered funding system a system or scheme of finance or revenue by which provision is made for paying the interest or principal of a public debt. See also: Funding The airline industry supports a new cost-based funding mechanism for updating the nation's aging air traffic control system. "Our position is that we've got this funding system that made sense when it was designed in the '70s, when the industry was fully regulated, but doesn't make sense now," Air Transport Association 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. James C. May said. Today, corporate aviation and other private aircraft consume a greater percentage of the nation's air traffic control services than when the funding system was put in place. May 7, 2007 Major airlines were in danger Monday of losing ground on fare increases that they attempted over the past week, as the carriers tried to navigate through weakening demand for air travel. May 7, 2007 Aeroflot Aeroflot this week confirmed that it achieved a RUB7.98 billion ($309.4 million) profit in 2006, a figure nearly identical to a third revision reported last month and representing a 32.3% increase from 2005 earnings of RUB6.03 billion. "Reliability of annual financial statements is confirmed by the conclusions of the auditing commission and corporate auditor," SU said. Revenue rose 13.5% to RUB71.35 billion on an 8.7% gain in passenger numbers to 7.3 million. Pre-tax profit climbed 36.7% to RUB11.43 billion. May 11, 2007 Air Canada Air Canada adopts innovative approach to sell travel in bulk Air Canada now Canada Now (more formally CBC News: Canada Now) is the early-evening national news program aired on CBC Television, the main English television network of the Canadian Broadcasting Corporation, between 2000 and 2007. sells bulk travel at a fixed price. For example, one traveler paid the airline $6,858 for 20 flights between the U.S. and Canada, and the bulk purchase allows that passenger to book a trip just one hour before flight time. Observers note that U.S. carriers are reluctant to adopt Air Canada's approach because of the financial risks. May 7, 2007 AirTran Holdings AirTran Holdings (NYSE: AAI) is a Nevada corporation that operates as an airline holding company. Its primary asset is AirTran Airways. History After the large amount of negative publicity surrounding the Flight 592 incident, ValuJet Airlines suffered serious Midwest Defends AirTran Rejection, AirTran Vows to Close Deal The head of Midwest Air Group Midwest Air Group, Inc. AMEX: MEH is an airline holding company based in Oak Creek, Wisconsin now controlled by parent company, TPG Capital Texas Pacific Group. Northwest Airlines Inc,. Inc. on Wednesday defended its board of directors' decision to reject escalating bids from rival AirTran Holdings Inc., even as that company's president vowed to see a merger through. May 9, 2007 American Airlines American Airlines Major U.S. airline. American was created through a merger of several smaller U.S. airlines and incorporated in 1934. It continued to buy the routes of other airlines, becoming an international carrier in the 1970s; its routes include South America, the American Airlines Federal Credit Union (AA Credit Union) unveiled cent$ -- a new, quarterly, custom financial education and lifestyle magazine -- at an invitation-only launch event attended by several AA Credit Union Board and Supervisory Committee members and management staff from AA Credit Union, American Airlines and AAP AAP - Association of American Publishers Custom, a division of American Airlines Publishing. AA Credit Union has partnered with AAP Custom to publish the magazine. May 10, 2007 American Airlines American Airlines is reserved on the effect open skies  This article is written like a personal reflection or and may require .Please [ improve this article] by rewriting this article in an . will have on its US-EU traffic. Past applications were shelved after regulatory bodies, especially the European Commission European Commission, branch of the governing body of the European Union (EU) invested with executive and some legislative powers. Located in Brussels, Belgium, it was founded in 1967 when the three treaty organizations comprising what was then the European Community , asked for slot surrender at London Heathrow that both airlines considered too high a price. May 9, 2007 American Airlines American plans to recall up to 200 furloughed attendants American Airlines said it will recall up to 200 furloughed flight attendants. The attendants are scheduled to begin training in June, and then will receive assignments on the East Coast. The airline has conducted a series of recalls since 2001, the most recent of which occurred in 2004. May 8, 2007 American Airlines American Airlines pilots, represented by the Allied Pilots Assn., last week presented a proposal to management asking for a 30.5% pay rate increase on the date a new labor agreement is signed retroactive to May 1, 2008, a 15% signing bonus A signing bonus or sign-on bonus is a sum of money paid to a new employee by a company as an incentive to join that company. These are often given as a way of making a compensation package more attractive to the employee e.g. if the annual salary is lower than they desire. and 5% annual raises in following years. APA (All Points Addressable) Refers to an array (bitmapped screen, matrix, etc.) in which all bits or cells can be individually manipulated. APA - Application Portability Architecture President Ralph Hunter said other stakeholders "have already recovered their investment in our airline's turnaround. . .it is time for our pilots to begin doing the same." He pointed to "large bonuses" received by AA senior executives over the past two years and said management must "appropriately" pay pilots their fair share. Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. in a research note estimated the contract would add as much as $500 million a year to AA's operating budget Noun 1. operating budget - a budget for current expenses as distinct from financial transactions or permanent improvements budget items, operating cost, operating expense, overhead - the expense of maintaining property (e.g. , although this does not factor in possible productivity improvements. The signing bonus would add a further $400 million assuming ratification by May 1, 2008. May 7, 2007 American Airlines American says it needs flexibility for delayed flights American Airlines says it must maintain the flexibility to respond to lengthy delays that potentially can inconvenience travelers for extended periods. The airline had promised not to hold travelers in a grounded plane for more than four hours, but now says four hours is a guideline. A group of travelers is urging lawmakers to adopt a rule that would force carriers to limit the time passengers wait inside planes. May 7, 2007 Continental Airlines Continental Airlines flew 7.85 billion consolidated RPMs in April, up 4.8% on the year-ago month. Capacity rose 5% to 9.54 billion ASMs, dropping load factor 0.2 point to 82.3%. Domestic traffic grew 5.2% against a 5.8% climb in capacity that cut load factor 0.4 point to 85.5%. International RPMs lifted 6.3%, capacity was up 6.1% and load factor rose 0.1 point to 79.6%. CO said consolidated April 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 changed -0.5%-0.5% and mainline RASM rose 0.5%-1.5%. May 10, 2007 Continental Airlines Continental pension provision added to war spending bill A provision that could allow Continental Airlines to reduce its pension payments has been inserted into the wartime spending bill. The provision is a technical correction technical correction A temporary downturn in the price of a stock or in the market itself following a period of extensive price increases. A technical correction takes place in a generally increasing market when there is no particular reason that the to previous legislation, airline experts say. However, a Republican aide calls the provision too broad to be a technicality and says it could save the carrier $70 million in pension contributions in 2008. May 10, 2007 Delta Air Lines Delta's Grinstein remains humble in successful tenure: Delta Air Lines 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. helped steer the airline out of bankruptcy protection and emerge as a stronger competitor in the industry. Grinstein remains humble even as employees ask him for his autograph. "Everyone gets their Warholian 15 minutes of fame," he says. "I've been around the industry long enough to know that either one of two things happen: Either you get a turn of the barrel later or people are going to forget about it." May 11, 2007 Delta Air Lines An executive vice president of air carrier Delta Air Lines Inc. sold 9,349 shares of common stock, 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. a Securities and Exchange Commission filing. May 10, 2007 Delta Air Lines Delta launches post-bankruptcy campaign A new multimillion-dollar ad campaign launched by Delta Monday could help the company get out of post-bankruptcy doldrums. "Change" is the key word, and the key factor, in the new campaign, which will target major cities and magazines. May 8, 2007 Delta Air Lines, Pinnacle Airlines 9e redirects here. For the arrondissement in Paris, see IXe arrondissement. Pinnacle Airlines (NASDAQ: PNCL) (formerly Express Airlines I) is an American regional airline based in Memphis, Tennessee, USA, operating all of its flights under the name Airline shares down early; Delta Air falls 5%. Airline shares sank in early trading, including Pinnacle Airlines Corp. stock after it reported a smaller profit, as crude-oil futures crept higher. Shares of Delta Air Lines Inc. fell 5%. The Amex Airline Iwas last down 0.5% at 51.15 points. May 8, 2007 ExpressJet ExpressJet income decline 'reflects transitional year' ExpressJet Holdings Inc., in the process of rolling out new regional air service in multiple markets nationwide, reported a decline in net income in the first quarter, partly due to higher operational costs. May 9, 2007 ExpressJet ExpressJet Holdings said first-quarter net income dropped 57% to $10.2 million, or 18 cents a share, while revenue rose 1.5% to $412 million. The Houston airline said its operating margin Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: dropped to 3.5% from 9.2%, on being paid at a 2006 rate structure while in arbitration with Continental, higher-than-expected pilot training costs and expenses on its transition of 36 aircraft. Analysts polled by Thomson Financial Thomson Financial A major provider of information, analytical tools, and consulting services to the financial community. The firm, a division of Thomson Corporation, is best known to investors for its First Call segment, which publishes consensus earnings expected earnings of 21 cents a share. May 9, 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 Phoenix-based Mesa Air Group, which operates the go! interisland in·ter·is·land adj. Relating to, involving, or connecting two or more islands: interisland competition; interisland ferries. airline in Hawaii, reported a second quarter loss of $24 million. The airline said Thursday its operating revenues increased nearly 8 percent for the quarter to $336 million, the result of expanding its regional jet service. May 10, 2007 Mesa Air Group, 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". , Aloha Airlines Interisland competition hurts Hawaiian carriers' resultsIntense competition in Hawaii's interisland market hurt results at Mesa Air Group and the company's competitors, Hawaiian Airlines and Aloha Airlines. American City Business. May 11, 2007 Mesaba Airlines, Northwest Airlines Mesaba Airlines reported Tuesday that traffic for April was down significantly. The 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 Corp. , flew 71.2 million available seat miles Available seat miles (ASM) is a measure of an airline flight's passenger carrying capacity. It is equal to the number of seats available multiplied by the number of miles flown. This measures an airlines capacity for transporting passengers. in April, down 60.9 percent year over year. An available seat mile means one seat flown one mile, whether the seat is occupied or not. May 8, 2007 Northwest Airlines Northwest executives, pilots lobby to keep retirement age at 60 The CEO of Northwest Airlines and the head of the Air Line Pilots Association say they oppose a legislative proposal to change the current retirement age for commercial pilots. The proposal would raise the retirement age from 60 to 65. May 9, 2007 Northwest Airlines Unions reject plans for Northwest Airlines. The 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. proposed by Northwest Airlines has been rejected by the carrier's three biggest unions, who say the plan that gives executives nearly 5% of the company is too expensive. Objections were raised after Northwest announced plans to give CEO Doug Steenland $26.6 million in restricted stock shares and options. May 8, 2007 Northwest Airlines After coming off a bankruptcy, Northwest Airlines hopes to get back on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . The company will be listed as 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 and hopes to list its common stock in June. The carrier filed for bankruptcy on Sept. 14, 2005. May 8, 2007 Northwest Airlines Northwest CEO May Get Millions Of Dollars In Stock. Northwest Airlines Chief Executive Doug Steenland could get millions of dollars worth of restricted stock and stock options in the airline when it emerges from bankruptcy, according to a court document. Based on information from company filings, Northwest shares could be priced at about 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. $27. Steenland is expected to receive 729,091 shares of restricted stock as well as options on 486,061 shares, according to the court filing on Friday. May 7, 2007 Northwest Airlines Northwest Airlines flew 6.52 billion consolidated RPMs in April, a 0.1% decline from the year-ago month. Capacity rose 0.5% to 7.8 billion ASMs and load factor fell 0.5 point to 83.7%. Domestic traffic lifted 0.8%, capacity climbed 0.7% and load factor remained at 84.3%. International traffic grew 0.9%, capacity was up 2.8% and load factor was down 1.6 points to 84.3%. May 7, 2007 Northwest Airlines Unions Object to Northwest Chapter 11 Plan Because of Management Payout The three biggest unions at Northwest Airlines Corp. objected to its reorganization plan on Monday, saying its plan to give executives almost 5 percent of the company is too expensive. May 7, 2007 Northwest Airlines Northwest Airlines said Monday it has requested that its stock be listed on the New York Stock Exchange under the ticker NWA. May 7, 2007 Pinnacle Airlines Pinnacle Airlines, a wholly owned subsidiary of Pinnacle Airlines Corp, today released its passenger and traffic levels for April 2007 May 9, 2007 United Airlines United employees want higher payWorkers at United Airlines want higher pay, and employees at other carriers are raising similar concerns. United CEO Glenn Tilton said management is watching the issue closely. "We care very much about it," he said. "At the end of the day, we want to make this a sustainable enterprise." May 11, 2007 US Airways US Airways said consolidated passenger RASM fell in April. President Scott Kirby said the revenue environment "has weakened from the rapid growth rate seen in 2006." The timing of Easter also was an issue. US flew 5.45 billion consolidated RPMs in April, down 0.1% from the year-ago month. Capacity dipped 0.2% to 6.63 billion ASMs and load factor rose 0.1 point to 82.2%. May 9, 2007 ZZ Editorial eMail: edit@AirGuideOnline.com For Air Transport & Travel Business Experts contact our Director of Content Aram Gesar 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. May 7, 2007 |
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