Low Cost Airline News - North America.Dec 18, 2006 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 revealed the $290 million deal Wednesday, saying the two carriers are compatible and together could become a "national low-cost, high-quality airline" generating $3 billion in pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma revenue next year. Despite the rosy scenario painted by its suitor SUITOR. One who is a party to a suit or action in court. One who is a party to an action. In its ancient sense, suitor meant one Who was bound to attend the county court, also, one who formed part of the secta. (q.v.) , Midwest demurred, saying it prefers to go it alone as it has done since it began flying out of its Milwaukee hub in 1984. "We are successful because we provide customers with an exceptional travel experience," 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. Tim Hoeksema said yesterday, reiterating the company's rejection. "Our product and service are unique and are not readily compatible with another carrier." Dec 15, 2006 AirTran Airways AirTran Airways parent 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 said it was bidding to take over Midwest Air for almost 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. $300 million. Dec 14, 2006 AirTran Airways AirTran believes a merger would generate in excess of $60 million in annual synergies and approximately $3 billion in pro forma revenue next year. The route networks contain little overlap and would offer the combined carrier access to markets throughout the US Southeast, Midwest and East with major hubs in Atlanta and Milwaukee and secondary hubs at Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Chicago Midway, Baltimore/Washington International and Orlando International, creating more than $40 million in synergies. The other $20 million would come from cost reductions, much of which would be achieved by replacing Midwest's MD-80s with AirTran's new 737-700s. Dec 14, 2006 AirTran Airways AirTran maintains urge to merge despite Midwest's rejection. AirTran Airways revealed yesterday that it continues to be willing to wager approximately $290 million on the notion that opposites do indeed attract, as the prototypical low-cost carrier A low-cost carrier or low-cost airline (also known as a no-frills or discount carrier / airline) is an airline that offers generally low fares in exchange for eliminating many traditional passenger services. said it intends to forge ahead in its bid to acquire Midwest Airlines
Midwest Airlines is an American scheduled passenger airline based in Milwaukee, Wisconsin, operating from General Mitchell International Airport. despite the Milwaukee-based full-service carrier's rejection of its initial overture. Dec 14, 2006 AirTran Airways AirTran nine-month revenues of $1.4 billion and a fleet of 123 aircraft comprising 87 717s and 36 737-700s, 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 Ascend CASE database, AirTran is considerably larger than Midwest, which operates 25 717s and 11 MD-80s, according to CASE, and had nine-month revenues of just under $500 million. Together the two account for around 2.2% of US RPKs. Dec 14, 2006 AirTran Airways AirTran responded Wednesday with a press release, presentation and letter from Chairman and CEO Joseph Leonard telling Hoeksema that a merger "better positions the combined company to compete against our larger rivals." But in a counter-statement, Hoeksema reiterated that Midwest wants to stay independent and said, "We view AirTran's offer at only about $5 per share, because it includes approximately $6 per share in cash that already belongs to our shareholders." Dec 14, 2006 AirTran Airways AirTran said it will continue to pursue the acquisition, with Leonard saying that "similar cultures, compatible low-cost business models, complementary networks and fleet commonality" make the carriers "as close to a perfect fit as anyone can imagine." Dec 14, 2006 AirTran Airways AirTran's first offer of $11.25 in cash and stock per 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,. share, which it said represented a 37% premium on the average closing price for the preceding 30-day period, was presented on Oct. 20 and rejected by Midwest Chairman, CEO and President Timothy Hoeksema in a letter dated Dec. 6 that said in part, "The company's strategic plan and remaining independent hold the best promise for continued growth and increased shareholder value going forward." Dec 14, 2006 AirTran Airways AirTran makes another offer to Midwest. AirTran said today it has made a buyout offer to rival carrier Midwest. According to AirTran's chief executive, Joe Leonard For the baseball player, see . Joe Leonard (born August 4, 1932, San Diego, California), is a retired American motorcycle racer and racecar driver. Leonard won the first AMA Grand National Championship Series in 1954 and won it again in 1956 and 1957. , his company originally outlined a merger proposal to Midwest in October, but Midwest rebuffed that proposal. Leonard today sent another letter to the Midwest board saying Airtran would continue to pursue a deal. AirTran Holdings, parent of AirTran Airways, wants investors in Midwest Air to persuade that carrier's management to reconsider a USD$290 million takeover bid, AirTran's chief executive said on Wednesday. Dec 13, 2006 JetBlue Airways JetBlue Airways flew 1.91 billion RPMs in November, an 11.7% increase over the year-ago month. Capacity rose 13.2% to 2.36 billion ASMs and load factor dropped 1.1 points to 80.8%. Dec 18, 2006 JetBlue Airways JetBlue may post profit in 2007. JetBlue's decision to slow its growth will help it return to profitability in 2007, an analyst predicts. The company hopes to earn more per passenger while keeping its airliners full. In late trading Late trading Late trading of mutual fund shares occurs when investors placing trades after 4 PM receive the 4 PM price. These late traders can use the information revealed after 4 PM to guide their trades: buying funds when their current value is greater than their 4 PM value and Monday, shares rose 3.6%, or 50 cents, to $14.30. Dec 12, 2006 Southwest Airlines Southwest Airlines flew 5.59 billion RPMs in November, an 11.9% increase over the year-ago month. Capacity grew 10.5% to 7.79 billion ASMs and load factor improved 0.9 point to 71.8%. Dec 14, 2006 Southwest Airlines US Transportation Security Administration named Mike Golden assistant administrator-operational process and technology, making him the agency's chief technology officer. Golden joins TSA TSA See tax-sheltered annuity (TSA). from Southwest Airlines, where he served as senior director-airport security technologies. Dec 12, 2006 Z Editor: Aram Gesar, eMail: edit@AirGuideOnline.com For more global news, reviews, features and analysis, please go to: http://www.airguideonline.com/onlinenews.htm To Subscribe to our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com Dec 11, 2006 |
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