Airline Finance News - North America.Aug 13, 2007 Airline stocks mostly fell Friday afternoon, amid a volatile market plagued by credit woes. The Amex Airline Index fell 0.66 points to close at 45.99, as light, sweet crude fell 77 cents to $71.38 per barrel on the New York Mercantile Exchange New York Mercantile Exchange (NYMEX) The world's largest physical commodity futures exchange. . Aug 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 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 announced that 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,. shareholder support has increased in support of our plan to merge and create a truly national low-cost, high quality airline. Aug 10, 2007 AirTran Airways AirTran Holdings Inc. urged the board of Midwest Air Group to agree to a merger Friday, after the number of shareholders supporting the takeover increased by 3.2 percentage points to 62.7 percent. Aug 10, 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 spent nearly $2.3 million in the first half of 2007 to lobby the federal government, 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 disclosure form. Aug 10, 2007 Delta Air Lines Delta Air Lines reported a record main system load factor of 87.6 percent for July, while its international passenger traffic increased substantially over last year because of its recent route expansion. Overall, Delta boarded 10.4 million passengers in July, up 3.5 percent from July 2006. The number of international, Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and regional passengers increased 14.6 percent, 24 percent and 9 percent, respectively. The increase in international traffic was based on a 14.5 percent increase in capacity. The Atlanta-based company has added more than 60 new international routes in the last year. Delta is the second-largest carrier at Orlando International Airport “KMCO” redirects here. For other uses, see KMCO (disambiguation). “MCO” redirects here. For other uses, see MCO (disambiguation). Orlando International Airport (IATA: MCO, ICAO: KMCO, FAA LID: MCO)[2] after 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. . Aug 6, 2007 ExpressJet ExpressJet Holdings, which provides regional air service for Continental Airlines, on Wednesday reported a quarterly loss that widely missed estimates, burdened by costs from starting up its own scheduled service. ExpressJet, which began flying under its own brand in April, said it had lost 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. $26.4 million, compared with a year-earlier profit of USD$23.3 million. Operating revenue operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. fell 5.8 percent to USD$395.2 million. Aug 9, 2007 ExpressJet ExpressJet was forced to find new ventures for 69 planes, or about a quarter of its fleet, after Continental canceled a capacity purchase agreement last year. Its largest, and perhaps riskiest venture, is to fly its own scheduled service with about 42 of its 50-seat aircraft, connecting secondary cities such as Oklahoma City Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm and San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. . The company also flies corporate air charters and has reached agreements with Delta Air Lines to provide the carrier with regional service. Aug 9, 2007 ExpressJet ExpressJet, which was in a fee dispute with former parent Continental over 2007 rates, said a panel had decided that the rates originally presented by ExpressJet should be reduced by USD$14.2 million. The decision resulted in a USD$6.5 million decrease in the second-quarter's operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. , ExpressJet said. Aug 9, 2007 ExpressJet ExpressJet Reports Second-Quarter Loss ExpressJet Holdings, which provides regional air service for Continental Airlines, on Wednesday reported a quarterly loss that widely missed estimates, burdened by costs from starting up its own scheduled service. Aug 8, 2007 Frontier Airlines This article is about Frontier Airlines that was founded in 1994. For the company known as Frontier Airlines from 1950 to 1986, see Frontier Airlines (1950-1986). For the similarly named Frontier Flying Service see Frontier Flying Service. Frontier Airlines 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. Jeff Potter, who joined the carrier in 1995 as VP-marketing and assumed his current position in April 2002, will step down on Sept. 6 in order "to accept a new position outside of the airline industry," the Denver-based carrier announced last week, adding that the board already has launched its search for a successor. Potter will remain on the board. He left Frontier in May 2000 to become president and CEO of Vanguard Airlines Vanguard Airlines was an airline based out of Kansas City, Missouri. For a time, Vanguard also had significant operations at Chicago Midway International Airport in Chicago, Illinois, until late 2000. It ceased operations on July 29, 2002, after filing for bankruptcy. , spending a year with the now-defunct carrier before returning to Frontier as COO. "I am proud that I am leaving a very healthy company at the dawn of what I firmly believe will be the most exciting phase of its growth," he said. Aug 6, 2007 JetBlue Airways For the Jet Blue database used in Exchange Server and Active Directory, see Extensible Storage Engine. JetBlue Airways is a major American low-cost airline owned by JetBlue Airways Corporation (NASDAQ: JBLU). A discrimination lawsuit charges federal officials and JetBlue Airways with racial profiling The consideration of race, ethnicity, or national origin by an officer of the law in deciding when and how to intervene in an enforcement capacity. Police officers often profile certain types of individuals who are more likely to perpetrate crimes. for refusing to let a passenger board an August 2006 flight at Kennedy International Airport Noun 1. Kennedy International Airport - a large airport on Long Island to the east of New York City Kennedy Interrnational, Kennedy Long Island - an island in southeastern New York; Brooklyn and Queens are on its western end because he wore a T-shirt inscribed in·scribe tr.v. in·scribed, in·scrib·ing, in·scribes 1. a. To write, print, carve, or engrave (words or letters) on or in a surface. b. To mark or engrave (a surface) with words or letters. with an Arabic phrase. Aug 10, 2007 JetBlue Airways JetBlue Airways flew 2.5 billion RPMs in July, up 13.4% from the year-ago month. Capacity rose 9.5% to 2.87 billion ASMs, lifting load factor 3 points to 86.9%. Aug 9, 2007 JetBlue, American Airlines, Virgin America Virgin America is a U.S. based low-cost airline that began service on 8 August 2007. The airline's stated aim is to provide low-fare, high-quality service for "long-haul point-to-point service between major metropolitan cities on the Eastern and West Coast seaboards". JetBlue, American Airlines and other rivals are competing on price, but JetBlue has no first-class seating and bigger airlines risk irritating frequent fliers, who relish upgrades, by filling their premium seats, especially at a discount. Some industry experts believe Virgin America will capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. unprecedented customer dissatisfaction and trigger a service war, rather than a fare war. Virgin America will automatically have an advantage on transcontinental flights simply because it is based in San Francisco. Aug 9, 2007 Midwest Air Group Midwest has four potential buyers. Midwest Air Group announced on Friday that four possible buyers have expressed interest in the airline. The carrier has signed confidentiality agreements with all four, meaning that they can look over Midwest's books while the airline considers its next move. None of the interested parties were named, although AirTran Holdings has long expressed a desire to merge with Midwest. Aug 6, 2007 Northwest Airlines Northwest Airlines will serve as the charter airline for the Super Bowl XLI Super Bowl XLI was the 41st championship game of the modern National Football League (NFL). The American football game was played on February 4 2007 at Dolphin Stadium in Miami Gardens, Florida, a suburb of Miami, following the 2006 regular season. Kickoff was at 6:27 p.m. champion Indianapolis Colts for the upcoming National Football League season. Aug 9, 2007 Northwest Airlines Northwest Airlines' Air Line Pilots Assn. 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 ratified the new work rules agreement reached with management last week as part of the carrier's effort to reduce high levels of flight cancellations it has attributed in part to "pilot absenteeism". 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 said the agreement is "economically neutral," with the premium pay it has agreed to reinstate for pilots flying more than 80 hr. per month "offset by the value of work rule changes and grievance settlement." Aug 8, 2007 Northwest Airlines Northwest Airlines told travel agents that it will suspend its Detroit-Brussels service in mid-month, citing "operational challenges" with the cockpit crew of the Boeing 757-200s that operate the route. NWA launched the service in early May. It previously said it would drop its second Detroit-Frankfurt frequency in order to free up 757 pilots. Aug 7, 2007 Northwest Airlines Northwest Airline said the new pact was "economically neutral" with the premium-pay costs offset by the work rule changes and the grievance settlement. Northwest suffered the high cancellation rates at the end of the last two months, blaming the problem on "pilot absenteeism." The Air Line Pilots Association, however, said absenteeism is not the problem. Rather, it said, the cancellations resulted from the airline having too few pilots to work the hectic summer flying schedule. Work rules the pilots agreed to during the carrier's 20 month bankruptcy, which ended in May, often required pilots to spend more time in the air. Aug 6, 2007 Northwest Airlines Northwest Airlines' Pilot Union Approves Deal. The union representing pilots at Northwest Airlines approved a deal that seeks to prevent late-month spikes in the airline's flight cancellations such as those seen in June and July. Saturday's vote by Northwest Airline Pilots Association confirms the tentative accord reached on August 1, said Northwest and its pilot union. The agreement makes contractual changes on several work rules pertaining to international flying and settles an outstanding grievance. In exchange, Northwest will reinstate premium pay of 50 percent for all pilots flying more than 80 hours a month. Aug 6, 2007 Northwest Airlines Northwest Airlines pilots, whose absenteeism caused the fifth-largest US carrier to cancel thousands of flights, has approved a contract that pays them overtime and a $1,000 bonus for perfect attendance through Sept. 3. The Airline Pilots Association on Saturday ratified an agreement that will give its members overtime pay of 50 percent for flying more than 80 hours a month as of Aug. 1, as well as the attendance incentive of 15 percent of earnings up to as much as $1,000, the company said. Aug 6, 2007 Pinnacle Airlines Pinnacle Airlines board authorized a share repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. program worth up to $30 million in outstanding common stock, two-third of which is contingent upon the "completion of certain financings," the company said. It reacquired more than 1.6 million shares in a similar $30 million repurchase last month. Aug 10, 2007 Pinnacle Airlines Pinnacle Airlines repurchases about 2 million shares. Pinnacle Airlines will buy back about 2 million of its own shares for approximately $30 million. The company acquired 1.6 million shares of its outstanding stock last month. Aug 10, 2007 Pinnacle Airlines Pinnacle Airlines Corp. will repurchase about 2 million of its own shares, about $30 million of the company's outstanding common stock. Aug 9, 2007 RegionsAir RegionsAir Inc. is suing the U.S. government, alleging the commuter airline illegally was shut down in a dispute over pilot training and certification procedures Aug 7, 2007 RegionsAir RegionsAir may file suit against FAA. Industry observers say RegionsAir may file a lawsuit against the FAA claiming that the federal agency entered an agreement with the carrier "in bad faith," eventually forcing the airline to cease operations. RegionsAir is seeking $10 million in damages, plus interest and attorney's fees. Aug 7, 2007 SkyWest SkyWest Inc. on Friday announced a quarterly cash dividend of 3 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . The St. George, Utah-based company will pay the dividend Oct. 5 to shareholders of record Sept. 28. Aug 10, 2007 SkyWest Airlines SkyWest Airlines operating revenue climbed 8.2% to $855 million while operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. were up 9.3% to $766.2 million, dropping operating income 0.9% to $88.9 million. Key factors in the result were a 14.5% year-over-year increase in capacity to 5.8 billion ASMs offset by a 5.7% decline in yield to 18.2 cents, plus increased fuel cost reimbursements from major partners, the company said. SkyWest and 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 fly for Delta Air Lines, United Airlines and Midwest Airlines. Aug 10, 2007 SkyWest Airlines SkyWest Airlines and 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. parent SkyWest Inc. reported second quarter net income of $40.6 million, a modest 3.4% increase over earnings of $39.3 million in the year-ago period. Aug 10, 2007 SkyWorks SkyWorks is well-known in North America for its advisory work on behalf of American Airlines during its out-of-court financial restructuring and on behalf of lenders during Air Canada's restructuring. It also helped to arrange interim DIP and exit financing for ATA Airlines, represented unsecured creditors in the Atlas Air reorganization, and advised AirTran Airways in connection with its 100-aircraft deal in 2003. Aug 10, 2007 US Airways US Airways fires baggage handlers accused of falsifying fal·si·fy v. fal·si·fied, fal·si·fy·ing, fal·si·fies v.tr. 1. To state untruthfully; misrepresent. 2. a. overtime data. US Airways has fired 15 employees at Philadelphia International Airport and is interviewing up to 150 additional employees after a scheme to overcharge the airline for overtime was discovered, a company spokeswoman said. Some employees altered their records in the carrier's computerized timekeeping system, using a manager's password to access the system. Aug 10, 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. flew 6.15 billion consolidated RPMs in July, up 1.2% on the year-ago month. Capacity fell 1.4% to 7.17 billion ASMs, lifting load factor 2.2 points to 85.8%. The company said July passenger 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 rose 4% year-over-year. Aug 6, 2007 Virgin America Virgin America spent nearly two years under regulatory scrutiny and won approval to operate from the US Transportation Department only after promising to restructure its ownership and board and distance itself from Branson's Virgin Group, which runs Virgin Atlantic Airways. Several US-based carriers and unions opposed Virgin America's entrance on grounds that Branson would control the company in violation of a US law that limits control of airlines to US citizens. Virgin Group holds a minority stake in the company, which the law permits. Transportation authorities also worried that Virgin America Chief Executive Fred Reid, a veteran US and international airline executive, was too close to Branson and overseas interests and insisted he be replaced within months after Virgin America's inaugural flight. Reid did not make it to the JFK launch party before the flight because of the bad weather. Aug 9, 2007 Virgin America Virgin America, the low-cost airline partly backed and fully branded by British entrepreneur Richard Branson, launched on Wednesday with a splash of publicity -- but found its first flight delayed by a midsummer New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of storm. The delay was a timely reminder for the new airline -- which offers leather seats, mood lighting, entertainment systems, first-class seating and low fares on point-to-point flights -- that the US domestic market is fraught with difficulties. Unfortunately for Branson, Virgin America's first flight to San Francisco missed its departure time after a downpour hit New York, flooding subways and stopping traffic. Aug 9, 2007 Virgin America Analysts say Virgin America not a threat to other airlines. Virgin America's entry into the crowded aviation market has already forced some airlines with directly competing flights to lower prices. But overall, some analysts expect the impact of the new player to be mild. The routes served by Virgin America are in such high demand, and available seats so limited, that a few more daily flights aren't likely to hurt carriers already in those markets. Aug 8, 2007 Virgin America, JetBlue Airways Like JetBlue Airways seven years ago, San Francisco-based Virgin America is accenting hip customer service on flights aboard new Airbus A320 aircraft in an attempt to build loyalty in an industry with sharply deteriorating reliability and customer satisfaction. Dave Barger, chief executive of New York-based JetBlue, told analysts two weeks ago that Virgin America overlaps on 10 percent of JetBlue's routes. "We're not going to take it lightly," he added. Aug 9, 2007 WestJet Airlines WestJet Airlines said on Tuesday its planes were more crowded in July, the seventh straight month of gains, as passenger loads climbed even as capacity increased. WestJet said its load factor rose to 82.6 percent last month, an increase of 1.1 percentage points from July 2006. The airline's capacity 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. grew 16 percent to 1.27 billion from July 2006. Revenue passenger miles climbed 17 percent to 1.05 billion. Aug 8, 2007 WestJet Airlines WestJet's bigger competitor, Air Canada, said on Monday its load factor fell last month to 82.5 percent, a drop of 1.1 percentage points from July 2006. Year-to-date, WestJet's load factor rose 2.4 percentage points to 81.3 percent, as a 21 percent gain in revenue passenger miles to 6.67 billion for the first seven months of the year outstripped a 17 percent rise to 8.21 billion in available seat miles. Aug 8, 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 Pyramid Media Group / Air Travel Media. All rights reserved. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion