Company Watch - Northwest Airlines.May 14, 2007 Mesaba Airlines Mesaba Airlines is an American regional airline based in Eagan, Minnesota. The airline operates under Mesaba Aviation, Inc. a wholly owned subsidiary of Northwest Airlines. All of its flights are operated under the name Northwest Airlink for Northwest Airlines. reported Tuesday that traffic for April was down significantly. The 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 Northwest Airlines Corp. , flew 71.2 million 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. in April, down 60.9 percent year over year. An available seat mile means one seat flown one mile, whether the seat is occupied or not. May 8, 2007 Northwest Airlines said yesterday that preliminary results indicate 96.9% of its creditors, comprising 98.4% of the dollar value of claims, voted to approve its plan of reorganization, clearing the way for the carrier's emergence from bankruptcy next month. Final voting results will be filed this week with the US 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. , which will hold a confirmation hearing May 16. May 10, 2007 Northwest executives, pilots lobby to keep retirement age at 60 The 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. of Northwest Airlines and the head of the Air Line Pilots Association say they oppose a legislative proposal to change the current retirement age for commercial pilots. The proposal would raise the retirement age from 60 to 65. May 9, 2007 Northwest Airlines said Wednesday that its plan of reorganization has been approved by creditors, 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. the results of a preliminary tally. The unofficial tally indicates that 96.9% of the airline's creditors who voted, representing 98.4% of the dollar amount of the claims that voted, approved the Northwest plan, the Eagan, Minn.-based carrier said. The final voting results will be filed late this week with the U.S. Bankruptcy Court for the Southern District of 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 , the court overseeing Northwest's restructuring, the company said. A confirmation hearing on the airline's plan of reorganization is scheduled to begin on May 16. May 9, 2007 Unions reject plans for Northwest Airlines. The reorganization plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. proposed by Northwest Airlines has been rejected by the carrier's three biggest unions, who say the plan that gives executives nearly 5% of the company is too expensive. Objections were raised after Northwest announced plans to give CEO Doug Steenland $26.6 million in restricted stock shares and options. May 8, 2007 After coming off a bankruptcy, Northwest Airlines hopes to get back on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . The company will be listed as 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 and hopes to list its common stock in June. The carrier filed for bankruptcy on Sept. 14, 2005. May 8, 2007 Northwest CEO May Get Millions Of Dollars In Stock. Northwest Airlines Chief Executive Doug Steenland could get millions of dollars worth of restricted stock and stock options in the airline when it emerges from bankruptcy, according to a court document. Based on information from company filings, Northwest shares could be priced at about 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. $27. Steenland is expected to receive 729,091 shares of restricted stock as well as options on 486,061 shares, according to the court filing on Friday. May 7, 2007 Northwest Airlines flew 6.52 billion consolidated RPMs in April, a 0.1% decline from the year-ago month. Capacity rose 0.5% to 7.8 billion ASMs and load factor fell 0.5 point to 83.7%. Domestic traffic lifted 0.8%, capacity climbed 0.7% and load factor remained at 84.3%. International traffic grew 0.9%, capacity was up 2.8% and load factor was down 1.6 points to 84.3%. May 7, 2007 Airlines add fees for services that were complimentary Airlines often charge for services that were once complimentary, writes David Lazarus in the San Francisco Chronicle The San Francisco Chronicle was founded in 1865 as The Daily Dramatic Chronicle by teenage brothers Charles de Young and Michael H. de Young.[2] The paper grew along with San Francisco to become the largest circulation newspaper on the West Coast of the . Northwest Airlines, for example, charges travelers to reserve an aisle seat, and Delta Air Lines now charges coach travelers to watch movies. May 7, 2007 Unions Object to Northwest Chapter 11 Plan Because of Management Payout The three biggest unions at Northwest Airlines Corp. objected to its reorganization plan on Monday, saying its plan to give executives almost 5 percent of the company is too expensive. May 7, 2007 Northwest Airlines said Monday it has requested that its stock be listed on the New York Stock Exchange under the ticker NWA. May 7, 2007 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, free service that aims to keep travelers informed 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. May 7, 2007 |
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