Airline Finance News - North America.Jun 18, 2007 Last week, Northwest exited bankruptcy having cut its costs by 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. $2.4 billion. Northwest emerged from Chapter 11 behind rivals Delta, which left bankruptcy in April, and United, which exited bankruptcy last year. Even airlines that did not opt for Chapter 11, such as American Airlines, have wrung wrung v. Past tense and past participle of wring. wrung Verb the past of wring wrung wring substantial savings from employees by renegotiating contracts. But despite their best efforts, long-term survival is not guaranteed for the big airlines. Jun 11, 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 Jazz said a Federal Court judge reversed a previous order denying the carrier the right to appeal its eviction The removal of a tenant from possession of premises in which he or she resides or has a property interest done by a landlord either by reentry upon the premises or through a court action. from Toronto City Centre Airport Toronto/City Centre Airport, (IATA: YTZ, ICAO: CYTZ), in Toronto, Ontario, Canada is a regional airport located on the Toronto Islands. Opened in 1939 as the Port George VI Airfield, it became generally known as the Island Airport. last year . Porter Airlines now is operating from the airport. Jazz said it was "gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. that the case will be heard based on the merits on the merits adj. referring to a judgment, decision or ruling of a court based upon the facts presented in evidence and the law applied to that evidence. A judge decides a case "on the merits" when he/she bases the decision on the fundamental issues and considers and will proceed with this action expeditiously ex·pe·di·tious adj. Acting or done with speed and efficiency. See Synonyms at fast1. ex . Jun 14, 2007 AirTran Airways, Midwest Air AirTran extended its takeover offer of USD$15 a share for Midwest Air until August 10 and said on Monday it was dismayed that Midwest's board continued to oppose such a deal. AirTran, parent of low-cost airline AirTran Airways, in April increased its hostile offer for Midwest to USD$15 per Midwest share from an original USD$11.25. Midwest remained steadfast in its opposition to AirTran's bid and said it would continue to oppose the takeover regardless of the outcome of AirTran's tender offer. Midwest believes it can boost annual revenue by more than USD$200 million through measures such as a larger fleet and a new code-share agreement with Northwest Airlines. Jun 13, 2007 American Airlines American Airlines flew 11.89 billion system RPMs in May, down 2.9% from the year-ago month. Domestic traffic fell 2.5% and international was down 3.7%. Capacity dropped 4% to 14.55 billion ASMs on a 4.0% domestic decline and a 4.1% international decrease. Load factor rose 1 point to 81.7%--domestic was up 1.2 points to 84.2% and international 0.3 point to 77.2%. American Eagle Airlines American Eagle Airlines is a regional airline based in Fort Worth, Texas[1]. It is a airline partner of American Airlines[2] (both wholly owned by the AMR Corporation holding company), operating over 1,800 flights a day, serving 159 cities across the USA, flew 802.6 million RPMs, down 0.9%, against a 1.3% rise in capacity to 1.06 billion ASMs, dropping load factor 1.7 point to 75.5%. Jun 12, 2007 Continental Airlines Continental Airlines estimated that May consolidated 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 fell 0.5%-1.5% year-over-year, although mainline unit revenue is estimated to have risen up to 1%. CO flew 8.14 billion consolidated RPMs during the month, up 6.4% from the year-ago month, as domestic traffic rose 8.9% and international grew 7.3%. Capacity climbed 5.8% to 9.98 billion ASMs on a 8.2% domestic rise and a 6.2% international increase. Consolidated load factor was up 0.5 point to 81.5%. Domestic lifted 0.5 point to 84.4% and international was ahead 0.8 point to 78.7%. Jun 11, 2007 Delta Air Lines Delta Air Lines announced an amendment to its Visa/MasterCard processing agreement that will eliminate the previously required $1.1 billion holdback hold·back n. 1. a. The act of holding back. b. Something held back. 2. A device that retains or restrains. 3. comprising an $800 million cash reserve and a $300 million letter of credit. The cash was returned to DL and the LOC LOC - lines of code was terminated, with no future holdback required "except in limited circumstances," the airline said. It will end the current quarter with $4.2 billion in liquidity, including a $1 billion revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. . Jun 14, 2007 Delta Air Lines Delta Air Lines announced today it has amended its Visa/MasterCard processing agreement to eliminate the $1.1 billion holdback previously required. This holdback consisted of an $800 million cash reserve and a related $300 million letter of credit. Pursuant to the amendment, the entire amount of the cash reserve was returned to Delta and the letter of credit was terminated. No future holdback or cash reserve is required except in limited circumstances. As a result of these changes, Delta expects to end the quarter with $4.2 billion in liquidity, including a fully available, $1 billion revolving line of credit. Jun 13, 2007 Hawaiian Airlines Hawaiian Airlines flew 672.7 million RPMs in May, up 19.6% from the year-ago month, on a 19.8% lift in capacity to 776.6 million ASMs. Load factor dipped 0.2 point to 86.6%. Jun 15, 2007 Mesaba Airlines Mesaba Airlines, a regional carrier for Northwest Airlines, said Wednesday its May traffic fell 64 percent on a 58.6 percent decline in capacity. Jun 13, 2007 Northwest Airlines Northwest Airlines flew 6.71 billion consolidated RPMs in May, level with the year-ago month, as domestic traffic rose 1.1% and international remained static. Regional traffic fell 8.1%. Capacity grew 1.9% to 7.96 billion ASMs on a 1.4% domestic increase, a 4.5% international gain and a 7.1% fall in regional. Consolidated load factor dipped 1.6 points to 84.3%. Jun 12, 2007 Northwest Airlines Northwest Airlines late last month emerged from 20 months of 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. protection, representing a new era of solvency for the domestic airline industry. Northwest is the fourth and final major domestic airline to reorganize and exit from Chapter 11 since US Airways filed in August 2002. Jun 11, 2007 Pinnacle Airlines The president and chief executive of regional carrier Pinnacle Airlines exercised options for 32,266 shares of common stock, according to a Securities and Exchange Commission filing. Jun 12, 2007 Republic Airlines 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. reached a five-year labor agreement with more than 60 dispatchers represented by the Transport Workers Union Transport Workers Union may refer to:
United Airlines United Airlines flew 10.21 billion RPMs in May, a 0.5% lift from the year-ago month. Capacity fell 0.5% to 12.07 billion ASMs and load factor was up 0.8 point to 84.6%. Jun 11, 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 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. |
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