Airline Finance News - North America.Jun 11, 2007 US Senators Seek Airline Pension Data. Two US senators sought employee pension data on Wednesday from 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 and Continental Airlines, angry about new changes in pension law that exclusively benefit the carriers. Finance Committee Chairman Max Baucus Max Sieben Baucus (born December 11 1941) is the senior United States Senator from Montana and is a member of the Democratic Party. Baucus is currently chairman of the United States Senate Committee on Finance and 10th Longest-serving current Senator. , Democrat of Montana, and the panel's top Republican, Charles Grassley of Iowa, are angry about the last-minute provision inserted in military spending legislation approved by Congress two weeks ago. Subtle changes to last year's pension law overhaul are aimed at reducing cash contributions American, Continental and a handful of smaller airlines would be required to make to their employee pension funds over time. The break is estimated at roughly 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. $2 billion. Jun 7, 2007 American and Continental had sought interest rate and other changes since Congress overhauled corporate pension funding rules nearly a year ago. The airlines contended that breaks given to Northwest Airlines and Delta Air Lines, which leveraged their bankruptcies last year to sway lawmakers, put them at a competitive disadvantage and effectively penalized pe·nal·ize tr.v. pe·nal·ized, pe·nal·iz·ing, pe·nal·iz·es 1. To subject to a penalty, especially for infringement of a law or official regulation. See Synonyms at punish. 2. them for restructuring their businesses outside of Chapter 11. It is unclear if Baucus and Grassley would seek to overturn the most recent changes, but Baucus said he would investigate to see whether they were fair. Jun 7, 2007 US airlines are leaner and healthier after years of cost cutting, but with massive reorganizations complete and competition at least as fierce as it was in 2001, carriers are struggling to find fat to trim. Airlines that have slashed debt and labor costs in bankruptcy, such as Northwest Airlines, Delta Air Lines and United Airlines, must now dig deeper into operations to find elusive savings. It is a simple and permanent fact of life for embattled airlines, experts say. Jun 6, 2007 Airlines Healthier But More Work Needed. International airline executives were told on Monday their industry is on course to post a USD$5 billion profit this year, but after years of heavy losses it was too little to shout about. Jun 4, 2007 International Air Transport Association (IATA IATA International Air Transport Association, which sets the rules for air transport, including those concerning air transport of animals. ) has gathered together for the 63rd time, the venue Vancouver, which also happens to be the home city of the oneworld alliance. Jun 4, 2007 Air Canada Air Canada said the load factor on its mainline system climbed 0.6 percentage points from the year-earlier month to 83.8 percent. Capacity for the month, measured in 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. , fell 1 percent to 4.48 billion. Air Canada sold 3.75 billion seat miles to paying customers, a 0.2 percent fall from May, 2006. Jun 7, 2007 Air Canada Jazz Jazz Air LP (Air Canada Jazz) is a Canadian regional airline based in the Halifax Regional Municipality, at the Halifax Stanfield International Airport in Enfield, Nova Scotia. Air Canada released traffic figures for its regional affiliate, Jazz. That airline's load factor for May rose 1.8 percentage points to 74.6 percent, even as it boosted capacity 16.9 percent from May 2006, to 495 million available seat miles. Jun 7, 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 Air Group reported May passenger traffic for its subsidiaries, Alaska Airlines and Horizon Air. Jun 6, 2007 American Airlines US Senators Seek Airline Pension Data. Two US senators sought employee pension data on Wednesday from American Airlines and Continental Airlines, angry about new changes in pension law that exclusively benefit the carriers. Jun 7, 2007 ATA Airlines ATA Airlines, Inc., formerly known as American Trans Air, is an American low-cost scheduled service and charter airline based in Indianapolis, Indiana. ATA operates scheduled passenger flights throughout the US mainland and Hawaii, as well as military and commercial charter ATA Airlines reported Thursday that it flew 88.2 percent full in May, up from 75.9 percent in May 2006. Jun 7, 2007 Continental Airlines Airline Shares Down After Continental Revenue Data. US airline stocks were broadly weaker on Monday after last week's monthly revenue estimates from Continental Airlines underscored challenges for the industry heading into the peak summer travel season. Continental estimated that its May revenue per available seat mile slipped between 0.5 percent and 1.5 percent, compared with an increase in May 2006 of as much as 1 percent. The number 4 US airline is the only major carrier to publish monthly revenue estimates, so the data serve as a proxy for the industry. JP Morgan 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 said in a research note that the data may trigger downward revisions for second-half airline performance. Jun 5, 2007 Delta Air Lines Delta Air Lines flew 10.08 billion system RPMs in May, up 5.9% from the year-ago month, as domestic traffic rose 2.9% and international climbed 12.8%. Capacity was up 0.6% to 12.48 billion ASMs on a 4.8% domestic decline and a 13.1% international increase. Load factor grew 4.1 points to 80.8%, climbing 6.1 points to 81.9% domestically and dipping 0.2 point to 78.5% internationally. Jun 7, 2007 Delta Air Lines Delta Air Lines promoted VPs Robert Cortelyou to senior VP-network planning, Pam Elledge to senior VP-global sales and distribution and Gail Grimmett to senior VP-revenue management. Jun 4, 2007 Northwest Airlines Northwest Airlines announced the following executive changes: Executive VP-International, Alliances & Information Technology and Chairman-NWA Cargo Phil Haan resigned effective July 31; Executive VP and CFO See Chief Financial Officer. Neal Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. was named executive VP-strategy and international and CEO-regional airlines; Senior VP-Finance and Controller Dave Davis will succeed Cohen; CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. Theresa Wise was promoted to senior VP and CIO. Jun 6, 2007 Northwest Airlines Having just emerged from bankruptcy Northwest Airlines could be the first new US airline to move into Heathrow following the bilateral agreement between America and the EU. Northwest currently serves both Detroit and Minneapolis from Gatwick. Leo Leo, in astronomy Leo [Lat.,=the lion], northern constellation lying S of Ursa Major and on the ecliptic (apparent path of the sun through the heavens) between Cancer and Virgo; it is one of the constellations of the zodiac. van Wijk, ceo KLM KLM Kaiserliche Marine (Enigma: Rising Tide game) KLM Koninklijke Luchtvaart Maatschappij (Royal Dutch Airlines) KLM Klub Langer Menschen (German: Tall Person Club) and vice chairman of the 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. Board of Directors, confirmed at the IATA airline gathering in Vancouver that his airline was in advanced discussions to convert some of his airline's Holland slots at Heathrow to transatlantic. The KLM/Northwest arrangement is a code share splitting costs and passengers might fly on a KLM or Northwest aircraft. Jun 5, 2007 United Airlines United Airlines today reported its preliminary traffic results for May 2007. The company reported its highest-ever May passenger load factor of 84.6 percent. Total scheduled revenue passenger miles Revenue passenger miles (RPMs) is a measure of a passenger traffic for an airline flight, bus, or train calculated by multiplying the total number of revenue-paying passengers aboard the vehicle by the distance traveled measured in miles. (RPMs) increased in May by 0.5 percent on a capacity decrease of 0.5 percent in scheduled available seat miles (ASMs) compared with the same period in 2006. Jun 5, 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. reported May and year-to-date results for 2007. Revenue passenger miles (RPMs) for the month were 5.6 billion, up 0.1 percent from May 2006. Capacity was 6.8 billion available seat miles (ASMs), down 1.8 percent from May 2006. The passenger load factor for May was a record 81.5 percent versus 79.9 percent in May 2006. Jun 6, 2007 WestJet At Calgary-based WestJet, the monthly load factor rose 3.1 percentage points in May from the year-earlier month, to 80 percent. WestJet's revenue passenger miles climbed 20 percent to 945.6 million. The carrier's available seat miles for the month rose 15 percent to 1.18 billion from 1.02 billion in May 2006. Year to date, WestJet's load factor is up 2.5 percentage points to 81.2 percent. Air Canada's five month cumulative load factor gained 1.2 percentage points to 81.9 percent. Jun 7, 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 Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com AirGuideFlightTracker is a new service that keeps travelers informed on 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. Jun 4, 2007 |
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