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Airline Finance News - North America.

Mar 1, 2009

US Dept. of Transportation said its proposed FY10 budget includes $800 million for the Next Generation Air Transportation System and a $55 million increase in subsidies for air service to small communities. Feb 27, 2009

Airline stocks were mixed on Tuesday. The Amex Airline Index rose by a fraction of a percentage point to 16.56. In the last 52 weeks, the benchmark index has moved between 35.77 and 12.66 points. Leading the way for gainers were shares of Delta Air Lines (DAL), up 4.4% to $5.96. American parent AMR Corp. (AMR) gained 1.4% to $4.44, United parent UAL Corp. (UAUA) rose 1.9% to $6.60, and Southwest (LUV) added nearly 1% to $6.49. Feb 24, 2009

President Barack Obama's likely third pick for Commerce secretary is former Washington Gov. Gary Locke, a senior administration official said Monday. Locke was the nation's first Chinese-American governor when he served two terms, ending in 2005. Feb 24, 2009

US airlines expected to limp through 2009. Plunging airline stocks suggest investors worry a few carriers may wind up in bankruptcy, victims of the U.S. financial crisis. Analysts say there is no immediate danger of that for any major carriers, although it could be the fate of one or two by this time next year if credit markets stay tight or the economy weakens further. Feb 23, 2009

Air Canada

The global financial crisis is forcing airlines to examine all expenditures carefully to determine which are sustainable and which are not. For Air Canada, funding its defined benefit pension plans is becoming a serious problem. The carrier is lobbying the Canadian government to alter the country's strict regulations on such benefits and warning that current laws put it at a distinct disadvantage to its competitors in the US. Feb 23, 2009

Allegiant Airlines

Allegiant Airlines is adding new routes. Most traditional U.S. airlines, including low-fare carriers, posted losses in 2008 and are reducing their flights, but not Allegiant, a unit of Las Vegas-based Allegiant Travel Co. Based on its 11.1% operating margin, it was the most profitable U.S. airline last year. And on Wednesday, it plans to announce it will add Los Angeles to its roster of holiday destinations that can be reached nonstop from small U.S. cities. Feb 24, 2009

Delta Air Lines

A small group of investors Tuesday asked for a full-panel review by a federal appeals court of a bankruptcy settlement between Delta Air Lines, the Kenton County Airport Board, and the trustee overseeing bonds issued in 1992 for the construction and expansion of Terminal 3 at the Cincinnati/Northern Kentucky International Airport. Feb 24, 2009

Frontier Airlines

Frontier Airlines Holdings, which is operating under bankruptcy protection, said it posted a $27.9 million net loss in January and a $2.8 million operating profit. Net result would have been a $2.8 million loss excluding reorganization items and mark-to-market fuel hedge transactions. January reorganization costs reached $28.3 million. Mainline unit revenue rose 4.4% year-over-year while unit cost fell 20.1%. President and CEO Sean Menke said the company is "now focused on securing the necessary financing to facilitate our emergence from bankruptcy later this year." Feb 27, 2009

Hawaii Island Air. Mesa Air Group

Mesa, Island Air reach tentative accord. The parent company of go! airlines says it has reached a tentative code-sharing agreement with Hawaii Island Air. Mesa Air Group said Thursday that go! will market Island Air flights between Kahului, Maui, Lihue, Kauai, and Hilo. Phoenix-based Mesa says it expects to extend the number of code-sharing routes operated by Island Air once Mesa's contract with Mokulele Airlines expires April 28. In 2007, Mokulele agreed to fly aircraft to Kapalua, Maui, Molokai and Lanai under the name go! Express. Mokulele has since developed a partnership with Indianapolis-based Republic Airways Holdings Inc. Feb 24, 2009

Hawaiian Airlines

Hawaii stocks were mostly up Tuesday as Wall Street rallied on news that Federal Reserve Chairman Ben Bernanke said the recession could end this year. Hawaii stocks seeing gains: Hawaiian Holdings, parent company of Hawaiian Airlines, up 1.6 percent to $3.62. Feb 24, 2009

Mokulele Airlines

Mokulele Airlines scraped together a $300,000 payment to Republic Airways Holdings and prevented default on an $8 million loan, according to The Honolulu Advertiser. Last week, Republic CEO Bryan Bedford said he was prepared to assume control of the Hawaiian regional if the payment was not made. Mokulele CEO Bill Boyer told the Advertiser that employees decided to defer paychecks for a week so the company could make the payment. He also said he was in discussions with potential investors and could hold a private placement in order to attract new capital. Mokulele began inter-island flying in 1998 and currently operates 85 daily flights. Feb 23, 2009

United Airlines

United Airlines will begin accepting credit and debit cards for onboard purchases on all flights on March 23 and said it will move to a cashless cabin on domestic and North/Central American flights "after a brief transition period." Feb 27, 2009

United Airlines

United Airlines parent UAL Corp. named General Motors VP-Global Strategy and Operations Tony Cervone as senior VP-corporate communications and chief communications officer. Feb 26, 2009

United Airlines

United Airlines parent UAL Corp. jumped 20 percent, leading gains among big U.S. carriers as most stocks fell, after a Calyon Securities analyst said now is the time to buy. UAL added $1.06 to close at $6.48. "Only the bravest investor buys into a steep market slide as is currently occurring, but this is the time when profits can be made," Calyon's Ray Neidl in New York wrote Monday in a note to investors. Feb 24, 2009

US Airways

US Airways will return complimentary beverage service to the coach cabin on all mainline and US Airways Express flights beginning March 1. The airline has been charging for nonalcoholic beverages ($2 for soda/juice, $1 for coffee/tea) as part of its transition to a more a la carte business since last August. Chairman and CEO Doug Parker said the company remains "firmly committed" to a la carte pricing but that it was at a "disadvantage" as the only large network carrier in the US to charge for drinks. It still expects to generate $400-$500 million in 2009 from other a la carte items such as checked-bag fees and seat upgrades. Feb 24, 2009

Virgin America

Virgin America might be the most endangered airline in the USA, its planes are packed with travelers who love its affordable, hip service. Virgin America lost $227 million in its first 12 months of operation, far more than expected, thanks largely to last year's historic run-up in fuel prices. And now, the U.S. hedge funds that own 75% of the airline could be reaching for the rip cord on British billionaire Richard Branson's foray into the U.S. domestic market. Feb 25, 2009

Virgin Vacations

Virgin Vacations Announces Net-Rate 'Travel Stimulus'. Virgin Vacations, USA, Inc. (a division of Virgin Atlantic/Virgin Group) today announced a 2009 travel stimulus program for the travel agent community, offering agents net-rated packages.. Feb 24, 2009

WestJet Airlines

WestJet Airlines co-founder Clive Beddoe loves aviation, but sailing comes a close second. In late 2007, he took part in the Atlantic Rally for Cruisers, just two months after he stepped down as WestJet CEO and passed the torch to Sean Durfy, who had succeeded him as president a year earlier. Leaving Mr. Durfy in charge of the airline, Mr. Beddoe and his yacht crew made their way across the Atlantic Ocean from Spain to St. Lucia over 17 days. Feb 24, 2009

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Publication:AirGuide Business
Date:Mar 2, 2009
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