Airline Finance News - North America.Oct 1, 2007 Airline stocks fell slightly Friday, echoing a decline in the broader market, as oil prices traded above $83 a barrel. The Amex Airline Index fell 0.4 percent to 43.90 in morning trading as light, sweet crude oil Sweet crude oil is a type of petroleum. Petroleum is considered "sweet" if it contains less than 0.5% sulfur[1], compared to a higher level of sulfur in sour crude oil. Sweet crude oil contains small amounts of hydrogen sulfide and carbon dioxide. for November delivery rose 33 cents to $83.21 a barrel on the New York Mercantile Exchange New York Mercantile Exchange (NYMEX) The world's largest physical commodity futures exchange. . Sep 28, 2007 Lawmakers introduce bill to boost inbound travel to U.S.. Reps. Sam Farr Samuel "Sam" Farr (born July 4 1941), American politician, has been a Democratic member of the United States House of Representatives since 1993, representing the 17th District of California (map). , D-Calif., and Jon Porter Jonathan Christopher "Jon" Porter (born May 16 1955), an American politician, has been a Republican member of the United States House of Representatives since 2003, the first representative elected from the new 3rd Congressional district of Nevada, which includes much of suburban , R-Nev., have introduced a bill in the House that would earmark earmark taking a piece out of the edge or center of the ear with a punch as an identification mark. The shape of the mark may be registerable under local legislation. $50 million of the State Department's budget for grants to increase inbound visitors to the U.S. Farr said security measures Noun 1. security measures - measures taken as a precaution against theft or espionage or sabotage etc.; "military security has been stepped up since the recent uprising" security have created a sense that the U.S. does not welcome foreigners and the funding is needed to alter that image. Sep 27, 2007 US officials will study the concept of charging airlines more to use crowded airports at the busiest times of the day. Recommendations are due in December. The Transportation Department has already proposed congestion The condition of a network when there is not enough bandwidth to support the current traffic load. congestion - When the offered load of a data communication path exceeds the capacity. pricing pilot programs at 15 airports as part of legislation to modernize the air traffic system. Airlines oppose congestion pricing, saying it will only raise fares as extra costs are passed along to consumers. Sep 27, 2007 Passenger rights legislation fair and balanced "Fair and Balanced" is a trademarked slogan used by American news broadcaster Fox News Channel. The slogan was originally used in conjunction with the phrase "Real Journalism. . Rep. James Oberstar, D-Minn., chairman of the House Committee on Transportation and Infrastructure, and Rep. Jerry Costello Jerry Francis Costello (born September 25 1949), American politician, has been a Democratic member of the United States House of Representatives since 1988, representing Illinois's At-large congressional district (map). He was born in East St. , D-Ill., chairman of the House Subcommittee on Aviation, say recently passed passenger rights legislation protects passengers without overly burdening airlines and airport ground control and in drafting the legislation. "We determined that one size could not fit all," the lawmakers write. "Air traffic controllers, for example, told us that a firm deadline to force a plane's return to the terminal after a given number of hours could produce chaos on the ground at many airports." Sep 26, 2007 Investors took recent lows in the airline sector as a buying opportunity Wednesday as oil prices slipped further. The Amex Airline Index rose 1.2 percent to 44.05 in midday trading. Sep 26, 2007 Although low-cost carriers haven't signed up for any newly emerging distribution plans, it is a definite possibility. The new model includes participation in global distribution systems without any cost to the airline and streamlined booking for non-interline connections between the budget carriers. Sep 24, 2007 The Senate Finance Committee voted on sept. 21 to increase corporate jet fuel taxes by $280 million with a fuel-tax increase to 36 cents a gallon from the current 21.8 cents. Airlines and their passengers would also pay more through an increase in the international passenger arrival and departure tax to $16.65 from $15.10. Sen. Jay Rockefeller John Davison Rockefeller IV (born June 18, 1937), generally known as Jay Rockefeller, has served as a Democratic U.S. Senator from West Virginia since 1985. He was Governor of West Virginia from 1977 to 1985. As a great-grandson of oil tycoon John D. , D-W.Va. said he won't agree to let the FAA bill reach the Senate floor until "a more equitable" 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 is worked out. Sep 24, 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 Airways pilots, represented by the National Pilots Assn., voted 788-496 to reject a tentative labor agreement that NPA's board had negotiated with management and endorsed last month. AirTran said it will resume negotiations with NPA (1) (Numbering Plan Area) The Bellcore/Telcordia telephone area code system in use in the U.S., Canada, Alaska, Hawaii and islands in the Caribbean. See NPA code. (2) (Network Professional Association, San Diego, CA, www.npanet. in an effort to reach a new accord. Sep 25, 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 Airlines' traffic grew 5.4% in August to 1.81 billion RPMs on a 2.3% increase in capacity to 2.18 billion ASMs, producing a load factor of 83.3%, up 2.5 points. Sep 26, 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' shares could rise 50 percent or more in the next year 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 Barron's report that cited factors such as a potential unit spin-off and an improving balance sheet. Sep 28, 2007 American Airlines American Airlines has floated a proposal to let its pilots fly more regularly scheduled hours, and to let pilots volunteer to fly another 15 hours per month over that. "This provides voluntary opportunities for pilots to increase their earnings," said a spokeswoman for the carrier. "And it gives us the ability to boost our efficiency and be more competitive." Sep 27, 2007 American Airlines Senator wants to lengthen recall time for American's flight attendants. Sen. Claire McCaskill, D-Mo., wants to add to the FAA reauthorization bill language to extend the recall time for American Airlines flight attendants from five to 10 years. Susan Gordon, a spokeswoman for American Airlines, said the airline was bound by its union contract to keep the attendants on the furlough fur·lough n. 1. a. A leave of absence or vacation, especially one granted to a member of the armed forces. b. A usually temporary layoff from work. c. list for five years. "We are open to discussing with the APFA APFA American Professional Football Association (now National Football League) APFA Association of Professional Flight Attendants APFA Abortion Providers' Federation of Australasia APFA American Pipe Fittings Association, Inc. the legislation and any potential impact it might have on their members," she said. Sep 27, 2007 American Airlines American Airlines parent AMR (1) (Adaptive Multi-Rate) A variable rate speech codec selected by the 3GPP for the 3G evolution of the GSM cellphone system (WCDMA). Using the Algebraic CELP (ACELP) compression technology, AMR provides toll quality sound at transmission rates from 4.75 to 12. Corp. projected in a regulatory filing that third-quarter unit revenue will increase 3.7%-4.7%, surprising Wall Street analysts who had predicted growth of more than 5% and causing AMR's stock price to fall more than 14% yesterday. It marked the company's largest single-day share price drop since 2003. Sep 25, 2007 American Airlines American Airlines parent AMR had expected to post third-quarter unit revenue growth of 5.2 percent. The weak figures, which come amid concerns that American consumers will rein in spending as the US economy slows, dragged down other airline shares. Delta Air Lines dropped about 6 percent, while US Airways fell over 8 percent. The Amex airline index was down 4.25 percent. On top of the prospects for softer demand, oil prices, which affect the cost of jet fuel, have recently reached record levels. In the filing with the US Securities and Exchange Commission, AMR said it expects third-quarter cargo and other revenue to be "nearly flat" with the second quarter. It also expects unit costs, or the cost of flying a seat one mile, to be higher than previously forecast because of programs to spruce up its cabins and due to weather-related cancellations. Sep 25, 2007 American Airlines American Airlines parent AMR's shares fell over 14 percent on Monday, its biggest one-day loss in more than four years, after it issued a disappointing revenue forecast, stoking concerns of slowing demand and rising costs. In a regulatory filing after the market close on Friday, AMR said it expects passenger revenue from its mainline and regional operations to rise 3.7 percent to 4.7 percent in the third quarter. The pace of growth is slower than its rivals, according to recent data. Continental Airlines earlier this month said passenger revenue per available seat mile, or unit revenue, rose 6.5 percent to 7.5 percent in August. Sep 25, 2007 American Airlines, British Airways, OneWorld Oneworld partners British Airways and American Airlines will not file for antitrust immunity under the new U.S.-European Union open skies deal, British Airways 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. Willie Walsh said. "We're not doing anything to pursue antitrust with American," Walsh said. "We don't see that the agreement has changed [the situation] to a degree that would give us confidence that applying for antitrust immunity would be successful." Sep 27, 2007 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. , SkyWest Atlantic Southeast Airlines, a 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 SkyWest, reached a tentative labor contract agreement with the Air Line Pilots Association (ALPA ALPA abbr. Air Line Pilots Association ) that represents ASA's nearly 1,700 pilots. Sep 28, 2007 Continental Airlines Continental Airlines' consolidated traffic increased 8.1% in August to 9.1 billion RPMs on a 4.4% rise in capacity to 10.6 billion ASMs, producing a load factor of 85.3%, up 2.9 points. Sep 26, 2007 Delta Air Lines Investors used Monday's sell-off in airline shares as a buying opportunity on Tuesday, as oil prices dropped sharply and Delta Air Lines got approval for a route between the U.S. and China. Sep 26, 2007 Delta Air Lines, 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 Delta Air Lines CEO Anderson said the company was prepared to make an "appropriate investment" to upgrade its terminals at New York JFK airport. The new routes include out-of-the-way destinations such as Lagos, Amman, Dakar, Panama City, Guatemala City and Liberia. Delta said its strategy of picking under-served international destinations has paid off; every international route launched last year has been profitable. "This is profitable and sustainable flying," said CEO Anderson. Sep 27, 2007 ExpressJet Regional airlines exploring growth opportunities. Investors are taking a closer look at regional airlines, which are exploring new income streams now that contracts with major carriers are becoming less generous. Of particular interest is ExpressJet's move to fly under its own brand, rather than just offering contract service to larger airlines. Sep 28, 2007 Frontier Airlines Frontier Airlines' traffic grew 23.6% in August to 955.6 million RPMs on a 11.9% lift in capacity to 1.1 billion ASMs, producing a load factor of 87%, up 8.2 points. Sep 27, 2007 Hawaiian Airlines, Mesa Airlines Hawaiian Airlines has accused Mesa Airlines of misusing documents obtained when it considered investing in the carrier three years ago. Mesa has since started up its own inter-island operation, Go. Peter Murnane, Mesa's chief financial officer, is on paid administrative leave while Mesa looks into allegations that financial documents related to that potential investment were subsequently inappropriately used. Sep 24, 2007 Midwest Air, AirTran Airways Midwest Air, trying to hold off a takeover bid by AirTran, reached out to other potential investors in the months leading up to the offer from Northwest and 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 . "Over the course of the next several months, we contacted a number of potential strategic partners," Midwest said in SEC filings. The airline didn't name companies other than TPG and Northwest. Sep 28, 2007 Midwest Airlines Midwest Airlines' recent sale to investment firm TPG Capital will result in hefty payouts of stock and cash to carrier executives, the Associated Press reported. Chairman Tim Hoeksema reportedly will receive more than $10 million in cash and stock while VPs Carole Skornicka and David Reeve are in line for $1.6 million each. CFO See Chief Financial Officer. Curtis Sawyer and VP Scott Dickson will receive about $1 million each. Northwest Airlines is the largest shareholder in the TPG acquisition. Sep 26, 2007 Midwest Airlines The sale of Midwest Air to TPG Capital will trigger the immediate vesting of stock options worth millions of dollars for top executives and directors, the airline revealed in a recent regulatory filing. Rank and file employees may benefit as well: In 2002, all Midwest employees received stock options at about $2 per share. Those options can now be exercised at $17 per share. Sep 24, 2007 Northwest Airlines, KLM KLM Kaiserliche Marine (Enigma: Rising Tide game) KLM Koninklijke Luchtvaart Maatschappij (Royal Dutch Airlines) KLM Klub Langer Menschen (German: Tall Person Club) Royal Dutch Airlines Northwest extends reach by forging alliances with other carriers. For 10 years, Northwest Airlines has reaped benefits from a partnership and profit-splitting deal with KLM Royal Dutch Airlines. Now the carrier is reaching out to other airlines in a bid to expand its reach without trying to do the work alone. "We are comfortable knowing that we are never going to fly our own airplanes to every single place around the globe that our people want to go," said Nathaniel Pieper, Northwest's vice president of alliances. Sep 28, 2007 Southwest Airlines Southwest Airlines said in an investor update yesterday that third-quarter unit costs will rise 4%-5% owing mainly to a $25 million charge related to its voluntary employee buyout program. The cost increase is more than double its projected growth in quarterly unit revenue and caused analysts to project lower-than-expected earnings for the LCC (Leadless Chip Carrier, Leaded Chip Carrier) See leadless chip carrier, CLCC and PLCC. 1. LCC - Language for Conversational Computing. Written at CMU in the 1960's. in the quarter. JP Morgan's SWA adv. 1. So. third-quarter earnings estimate was lowered to 20 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. from 23 cents previously. Sep 26, 2007 US Airways US Airways was granted a single operating certificate by the FAA, reflecting the merger of the the former US Airways and America West. "This is a very important milestone, reflecting two years of hard work combining and refining two sets of policies, procedures, manuals, checklists and computer systems for virtually every area of the airline," said US Airways Chairman and CEO Doug Parker. A single FAA operating certificate, officially cementing as one entity the carrier created in September 2005 when America West Airlines America West Airlines was one of the United States' ten major airlines. The airline was based in Tempe, Arizona, and is now a part of US Airways Group. At the time of its integration into US Airways, the airline maintained two hubs, one at Phoenix Sky Harbor International acquired the assets of the former US Airways, which was enduring its second bankruptcy in three years. Sep 28, 2007 US Airways A group of US Airways pilots says it's close to having enough votes to ask the National Mediation Board The National Mediation Board is a three-person board created in 1934 by an act amending the Railway Labor Act (45 U.S.C.A. §§ 151–158, 160–162, 1181–1188) to resolve disputes in the railroad and airline industries that could disrupt travel or imperil the to force a referendum on the Air Line Pilots Association, which currently represents the pilots. The pilots, from the pre-merger US Airways, recently walked away from contract negotiations with the airline over pay and ALPA-negotiated seniority issues. If ALPA is decertified as their representative, contract negotiations will have to begin again with a new union. Sep 24, 2007 US Airways US Airways in no hurry to use integrated seniority list: US Airways CEO Doug Parker says he wants to negotiate a new pilots contract but is in no hurry to adopt the seniority ruling approved this week by the Air Line Pilots Association. "I don't believe we're going to get a contract ratified that has that list go into effect immediately," Parker says. "There's no way." Sep 24, 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. All rights reserved. |
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