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Airline Finance News - North America.

Oct 23, 2006

US legacy carriers have made substantial progress in becoming more competitive but still trail low-cost carriers in a number of areas related to labor efficiency, a new analysis by the US Dept. of Transportation's Bureau of Transportation Statistics confirms. The analysis, based on Form 41 data filed by seven network carriers and seven budget airlines, reveals that LCCs reduced the number of full-time-equivalent employees per aircraft by 16%, from 92 in the first quarter of 2001 to 77 in the first quarter of 2006, while the network carriers reduced their FTEs per aircraft by 23% but still averaged 99 at the end of the study period, 28.6% higher than the LCC group. Oct 16, 2006

Air Canada

ACE launches Air Canada IPO. ACE Aviation Holdings, which was created during the bankruptcy reorganization of Air Canada, yesterday unveiled its previously announced plans for the flotation of the airline unit. Oct 17, 2006

Aloha Airlines, Hawaiian Airlines

Aloha Airlines, following in the wake of Hawaiian Airlines, filed suit against Mesa Air Group in an effort to thwart go!, the inter-island startup that launched June 9. Aloha, like Hawaiian, claims Mesa used confidential information obtained when it was considering an acquisition of the airline. Both carriers recently emerged from bankruptcy. "Mesa came to Hawaii under false pretenses, making false promises," Aloha CEO and President David Banmiller contended. "Aloha is seeking damages and an injunction against go!" A similar request from Hawaiian was denied this month by the US Bankruptcy Court, although it said the case posed "questions serious enough to require litigation". Oct 17, 2006

American Airlines, AMR

AMR Corp. posts $114 million third-quarter profit excluding noncash charge. American Airlines parent AMR Corp. kicked off the fall financial reporting season yesterday with its announcement that it earned a net profit of $15 million in the third quarter, a reversal from a $153 million loss in the year-ago quarter but a figure reduced substantially by a $99 million noncash charge that reduced the book value of specific outstanding fuel hedge contracts. Oct 19, 2006

American Airlines, AMR

American Airlines Parent Posts Quarterly Profit. American Airlines' parent company AMR on Wednesday reported a quarterly profit, reversing a year-ago loss, as the airline flew fuller planes and charged higher fares. Oct 18, 2006

Comair

Comair files claim seeking distribution of blame, financial burden in Lexington crash. Comair announced Friday that it has filed suit against the US government, FAA and airport authorities as part of an effort to ensure that compensation owed to victims' families as a result of the CRJ200 accident that killed 49 people at Lexington Blue Grass Airport in August is "shared fairly and reasonably among all parties who share responsibility," according to Comair President Don Bornhorst. Oct 16, 2006

Continental Airlines

Continental Airlines said its ramp, operations and cargo agents rejected representation by the Transport Workers Union. "We are pleased that our employees recognized the value of our direct working relationship," CO Senior VP-Airport Services Bill Meehan said. Oct 16, 2006

Continental Airlines, Hawaiian Airlines

Copa sale helps Continental nearly quadruple third-quarter profit. Rising yields, record load factors and a significant gain resulting from the sale of a portion of its stake in Panama's Copa Airlines helped Continental Airlines post a $237 million third-quarter profit, nearly four times the $61 million earned in the three months ended Sept. 30, 2005. Oct 19, 2006

Mesaba Airlines

Mesaba Airlines got a reprieve of sorts late Tuesday when US Bankruptcy Court Judge Gregory Kishel delayed his decision on whether to allow employees to strike and deferred the permission he had granted the carrier the day before to impose new terms on its union workforce. Oct 19, 2006

Mesaba Airlines

Mesaba hangs in balance as employees threaten strike. Pilots and other union employees at Mesaba Airlines were prepared to walk off the job just after midnight last night if the airline rejected its current negotiated agreements and imposed another round of pay cuts. Oct 18, 2006

Northwest Airlines

Northwest To Pay JPMorgan USD$23 Mln To End Dispute. Northwest Airlines agreed to pay JPMorgan Chase and other lenders more than USD$23 million to resolve a dispute over a USD$975 million loan. Oct 22, 2006

United Airlines

United Airlines flew 9.25 billion system RPMs in September, an increase of 1.3% over the year-ago month. Capacity climbed 2.3% to 11.64 billion ASMs and load factor dropped 0.7 point to 79.5%. Oct 16, 2006

United Airlines

United Airlines showed the largest gain as FTEs dropped 27.5% from 160 to 116. US Airways (which was counted in the network group, while America West Airlines was included in the LCC group) and Northwest Airlines had the fewest employees per aircraft at the end of the first quarter with 82. Oct 16, 2006

US Airways

US Airways said Executive VP-Operations Al Crellin has resigned effective Nov. 15. Oct 17, 2006

Z

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Oct 16, 2006
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Date:Oct 23, 2006
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