Airline Finance News - North America.Sep 17, 2007 Airlines working to attract good workers as hiring picks up. The airline industry is experiencing a hiring surge, with most of the major carriers bringing on new employees. The task is not as simple as it was before 2001. Now, carriers have to work harder to attract needed workers for relatively low-paid positions, often by stressing perks like free travel. Sep 13, 2007 OPEC OPEC: see Organization of Petroleum Exporting Countries. OPEC in full Organization of the Petroleum Exporting Countries Multinational organization established in 1960 to coordinate the petroleum production and export policies of its sought to reassure jittery oil markets by agreeing to boost crude production by 500,000 barrels a day - a move the cartel conceded was prompted partly by "clouds on the horizon" from the U.S. housing slump. The Organization of Petroleum Exporting Countries Organization of Petroleum Exporting Countries (OPEC), multinational organization (est. 1960, formally constituted 1961) that coordinates petroleum policies and economic aid among oil-producing nations. said Tuesday the higher output would begin Nov. 1. It pledged to "vigilantly monitor" the other factors buffeting crude markets, including worries that supplies might not keep pace with higher demand later this year as it becomes winter in the Northern Hemisphere. Significantly - and surprisingly - the 12-nation cartel said the increase would be based on current production, meaning it will add real oil to the market. Sep 12, 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. , Hawaiian Vacations Alaska Airlines invests in Hawaiian Vacations. Alaska Airlines has bought part of Hawaiian Vacations, a travel agency in Anchorage, Alaska, for an undisclosed price. The carrier purchased the travel agency's bookings, brand and Web site. The purchase coincides with the Alaska Airline's May announcement that it will begin flying between Anchorage and Hawaii in December. Sep 13, 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 , United Airlines Sept. 11 Hijacked Airliners Cockpit Tapes will Heard. Tapes of the final moments before one of the hijacked airliners in the September 11 attacks September 11 attacks Series of airline hijackings and suicide bombings against U.S. targets perpetrated by 19 militants associated with the Islamic extremist group al-Qaeda. crashed into the ground in Pennsylvania may be played at the first case over damages from the attacks to go to trial, a judge has ruled. The last four minutes of the recording of United Airlines Flight 93 with sounds of passengers trying to force entry into the cockpit and to retake re·take tr.v. re·took , re·tak·en , re·tak·ing, re·takes 1. To take back or again. 2. To recapture. 3. To photograph, film, or record again. n. 1. the plane in 2001, was ruled admissible by US District Judge Alvin Hellerstein Judge Alvin K. Hellerstein is a judge for the U.S. District Court for the Southern District of New York and has been involved in several high-profile cases. He was nominated by President William J. Clinton on May 15, 1998, to a seat vacated by Louis L. . The first of 41 cases left filed by September 11 victims who sued airlines and their security contractors for wrongful death The taking of the life of an individual resulting from the willful or negligent act of another person or persons. If a person is killed because of the wrongful conduct of a person or persons, the decedent's heirs and other beneficiaries may file a wrongful death action is set to begin September 24. That case was filed by the wife of Patrick Driscoll, 70, who died aboard United Flight 93. The recordings have not been released publicly but were played in court at the trial of convicted September 11 conspirator conspirator n. a person or entity who enters into a plot with one or more other people or entities to commit illegal acts, legal acts with an illegal object, or using illegal methods, to the harm of others. Zacarias Moussaoui Zacarias Moussaoui (Arabic: زكريا موسوي) (born May 30, 1968 in St Jean de Luz[2]) is a French citizen of Moroccan descent who was convicted of conspiring to kill Americans as part of the September 11, 2001, in 2006. Sep 13, 2007 American Airlines, United Airlines US District Judge Alvin Hellerstein, in a bid to encourage further settlements for the September 11 victims, the judge ruled in July that the first trials would only address damages and a second separate trial would address liability. The plaintiff's lawyer, Donald Migliori, said the recordings that will be played, which will also include the voice of one or two of the hijackers saying they have a bomb on board, was the most important evidence at the trial. He said most of the plaintiffs were "glad the process is starting" but frustrated the issue of damages will be decided before liability, which decides who is responsible. Sep 13, 2007 Continental Airlines Airline shares up, Continental offers rosy 3Q outlook. The Amex Airlines index closed 2.4% higher, and two brokerages upgraded their views of Continental Airlines' stock and earnings potential after the airline updated its outlook for the third quarter. Continental is the first of the major carriers to give an update on its third-quarter outlook. The airline sees capacity rising 3.5% from last year, in line with the increase it predicted in July. Sep 12, 2007 Continental Airlines Continental continues pension payments ahead of schedule. Continental Airlines has contributed another $50 million to its defined-benefit pension plans defined-benefit pension plan A pension plan in which retirement benefits rather than contributions into the plan are specified. Thus, a retired employee who has reached a certain age with a given number of years of service and has earned a certain income is , for total payments this year of $261 million. The airline expects to contribute more than $325 million to pension plans this year, far more than its minimum funding requirement The Minimum Funding Requirement (MFR) was a part of United Kingdom legislation in the Pensions Act 1995, and was introduced on 6 April 1997. The Pensions Act 2004 abolishes the MFR replaces it with new "scheme funding objective"; this came into force on 30 December, 2005 for all of $187 million. Sep 12, 2007 Delta Air Lines US Airlines Begin Scaling Back Fare Increase. US airlines have begun to withdraw a revenue-boosting fare increase initiated last week by Delta Air Lines, but it is too soon to say whether the bulk of the increase will last, a fare tracker said on Monday. Sep 10, 2007 Frontier Airlines Frontier Airlines Holdings Frontier Airlines Holdings, Inc. (NASDAQ: FRNT), is a United States based airline holding company. The company has headquarters in Denver, Colorado. Airline Holdings Certificated airline divisions and operations JetBlue Airways JetBlue Airways added the title of president to COO Russ Chew, who joined the carrier from US FAA in the wake of the February operational difficulties at 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 JFK. "Since Russ joined our team, we have established the right foundation for continuous improvement," 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. Dave Barger said. Sep 13, 2007 JetBlue Airways JetBlue Airways said August 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 increased 15% year-over-year as it flew 2.51 billion RPMs, a 13.4% gain over the year-ago month. Capacity rose 9.8% to 2.91 billion ASMs and load factor improved 2.7 points to 86.4%. Sep 10, 2007 Northwest Airlines Northwest Airlines is committing $213.3 million for its part in TPG TPG Texas Pacific Group TPG Tapping TPG Transports Publics Genevois (Geneva, Switzerland public transportation) TPG Test Pattern Generator TPG TNT Post Group TPG Trésorier Payeur Général Capital's buyout 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,. , a level of investment that would give Northwest a 47 percent stake in the Oak Creek carrier. Sep 13, 2007 Northwest Airlines Northwest's bankruptcy lawyers won't get bonuses. A judge has ruled that Northwest Airlines' bankruptcy lawyers will not get a requested $4.2 million in bonuses, noting they were fairly compensated at average rates of about $500 per hour. To qualify for the bonus, the legal team would have to show that its work produced a remarkable result beyond what should be expected from lawyers working for their regular fees. Objecting parties noted that the airline's stock has dropped 22% since leaving court protection, hardly a remarkable result. Sep 12, 2007 Pinnacle Airlines Pinnacle Airlines flew 904,145 passengers in August, up from 801,090, or 12.9 percent, a year ago. Wholly-owned subsidiary Pinnacle Airlines Inc., which flies as Northwest Airlink for Northwest Airlines, operated 139 aircraft during the month compared to 124 aircraft in August 2006. The airline said it flew 422.4 million revenue passenger miles in August, an increase of 11.4 percent compared to a year ago. Each revenue passenger mile represents one paying passenger flown for one mile. Pinnacle's 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. increased by 7.5 percent to 531 million available seat miles. Each available seat mile represents a mile flown by a seat, whether it was occupied or not. The airline's load factor -- a measure of how full planes were for the month -- increased to 79.5 percent, an increase of 2.7 points from a year ago. Sep 11, 2007 Southwest Airlines Southwest Airlines says 609 employees accepted buyouts. Southwest Airlines says 7% of eligible employees have accepted a buyout offer that includes a $25,000 cash payment plus health and dental benefits. The offer had been extended to 8,500 workers as part of a larger company effort to cut costs. The airline said the program's intention was to lower costs by encouraging senior high-paid employees to take voluntarily leave. It said staff totals will stay relatively static as it plans to replace nearly all of the bought-out workers with younger employees earning lower wages. The majority of the departing employees (395) worked in reservations. Pilots and mechanics were not offered buyouts. The workers who have decided to participate in the program will leave their jobs between Sept. 30 and April 30, 2008. Sep 12, 2007 Star Alliance, United Airlines and BMI BMI body mass index. BMI abbr. body mass index Body mass index (BMI) A measurement that has replaced weight as the preferred determinant of obesity. British Midland Airways Star Alliance granted anti-trust immunity. The DOT granted on Sept. 13 United Airlines and British Midland Airways antitrust immunity with other trans-Atlantic Star Alliance partners. The immunity goes into effect at the same time as the Open Skies treaty between the U.S. and EU in 2008. The DOT said the immunized group will include United, BMI, Air Canada, Austrian, Lufthansa, LOT, SAS (1) (SAS Institute Inc., Cary, NC, www.sas.com) A software company that specializes in data warehousing and decision support software based on the SAS System. Founded in 1976, SAS is one of the world's largest privately held software companies. See SAS System. , Swiss, and TAP. Sep 13, 2007 United Airlines United Airlines executive on short list for FAA chief of operations. United Airlines executive Henry "Hank" Krakowski is a strong candidate for the FAA's chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. post. FAA Administrator Marion Blakey is expected to appoint a new operations chief before she steps down on Thursday. A Boeing 737 captain at United, Krakowski has served as vice president in charge of flight operations since August, 2006. He's been with the airline since 1978. Sep 12, 2007 US Airways, FMR FMR Former (government official title) FMR Fair Market Rents (HUD) FMR Financial Management Regulation FMR Friends of the Mississippi River (watershed conservancy) Corp Fidelity Investment parent FMR Corp. increased its stake in US Airways to 13.8 million shares, or 15%, from the previous 8.6%, the airline said in a filing with the US Securities and Exchange Commission. Sep 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 real-time service that keeps travelers informed on flight and airport status, delays, security wait times 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. |
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