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Airline Finance News - North America.

For more airline finance news, data and analysis, please go to: http://www.airguideonline.com/professional.htm Sep 11, 2006

Court ponders test case on unions, bankruptcy. Representatives of air carriers and their labor unions are watching and waiting this week as a U.S. District Court in New York ponders a decision that could have important ramifications for future restructuring efforts. A ruling would set a legal precedent with sweeping implications for any carrier or union involved in labor disputes during bankruptcy, airline consultant Robert Mann said. Sep 4, 2006

American Airlines

American says better maintenance productivity will save millions. American Airlines plans to reduce flight delays and save $95 million per year by improving productivity at maintenance facilities. The airline also says it will save money by simplifying operations at its hubs in Dallas and Chicago. Sep 8, 2006

American Airlines

American Airlines flew 12.48 billion system RPMs in August, a 1.4% decline from the year-ago month. Capacity dropped 1.9% to 15.21 billion ASMs and load factor rose 0.4 point to 81.9%. Domestic RPMs fell 4.1% against a 4.8% drop in capacity to 9.64 billion ASMs, lifting load factor 0.6 point to 82.4%. International traffic rose 3.7% to 4.52 billion RPMs, capacity grew at the same rate to 5.58 billion ASMs and load factor was steady at 81.1%. Sep 4, 2006

American Eagle

American Eagle flew 792.6 million RPMs, an increase of 9.3%, against a 3.8% lift in ASMs to 1.07 billion, raising load factor 3.7 points to 74.3%. Sep 4, 2006

Continental Airlines

Continental Airlines reported a 9.6% year-over-year increase in July consolidated RASM and anticipated August growth of 6.5%-7.5%. It flew 8.4 billion system RPMs in August, an increase of 9.3% over the year-ago month. Capacity rose 8.5% to 10.19 billion ASMs and load factor grew 0.6 point to 82.4%. Domestic traffic climbed 7.1% to 3.98 billion RPMs, capacity was up 5.5% to 4.65 billion ASMs and load factor rose 1.2 points to 85.5%. International RPMs increased 11% to 3.46 billion against an 11.3% lift in ASMs to 4.31 billion, dropping load factor 0.2 point to 80.3%. Sep 6, 2006

Continental Airlines, United Airlines

Analysts speculate on Continental-United merger. Some industry analysts say a merger of United Airlines and Continental Airlines makes sense because the airlines' route structures complement each other. Other observers say the potential for labor problems makes the combination unlikely. Neither carrier would comment on the merger speculation.

Sep 7, 2006

Delta Air Lines

Delta Air Lines yesterday received permission from the US Bankruptcy Court to terminate its pilot defined benefit pension plan. The carrier established Sept. 2 as the effective termination date but still must obtain approval from the US Pension Benefit Guaranty Corp. Termination had been opposed by a group of 100 retired pilots, but that organization removed its objection over the weekend. DL will pay the group some $500,000 to cover legal fees and other expenses. "Unfortunately, the Airline Relief Act provisions provide no relief from the unaffordable costs resulting from the pilot plan's lump sum feature, expected to exceed more than $1 billion in the near term alone, that would confront Delta upon emergence from bankruptcy and beyond," Executive VP and CFO Edward Bastian said. Sep 6, 2006

Delta Air Lines

Delta to charge Amadeus clients $3.50-per-segment fee. Friday morning, Delta notified agencies that use Amadeus that it would begin charging a $3.50-per-segment fee on all Amadeus bookings. The changes went into effect at noon EST on Friday. Sep 5, 2006

Delta Air Lines

Delta may push back deadline for regional flying bids: Delta Air Lines may relax a Sept. 18 deadline for bidding on its regional routes because of the ongoing crash investigation at Comair. Delta last week said it would take bids on its regional routes, a move that put more pressure on Comair to secure cost-cutting labor contracts. Sep 4, 2006

Northwest Airlines

Northwest recalling all furloughed flight attendants. Northwest Airlines says it will recall to work all 1,131 flight attendants on voluntary and involuntary furloughs. In a memo to the workers, which was confirmed by the company, Northwest says it will also recall an undisclosed number of pilots. Sep 7, 2006

Northwest Airlines

Northwest sees high level of sick leave among attendants: Northwest Airlines says an unusually high number of flight attendants are taking sick leave. The airline and the union representing the workers are waiting for a judge to rule whether the workers may strike. A union representative says the union has not authorized any work action. Sep 7, 2006

Northwest Airlines

Flight attendants, represented by the Assn. of Flight Attendants-CWA, were awaiting a ruling late Friday from US District Judge Victor Marrero on whether work actions can go ahead. Marrero granted NWA's request for a temporary injunction on Aug. 25 but did not say when he would issue a final decision. The union said last week that it was not interested in returning to the negotiating table if it was denied the right to self-help. Sep 4, 2006

Northwest Airlines

Northwest Airlines reported a net profit of $101 million in July in a filing to the US Securities and Exchange Commission. Operating revenues totaled $1.2 billion and expenses came to $1.02 billion, resulting in a $180 million operating profit. It recorded $39 million in reorganization costs. Sep 4, 2006

United Airlines

United Airlines flew 10.6 billion system RPMs in August, a 1.5% increase over the year-ago month. Capacity climbed 3.2% to 12.69 billion ASMs, dropping load factor 1.3 points to 83.5%. Sep 7, 2006

US Airways

After years of losses, airlines recovering from Sept. 11. After years of losses and several bankruptcies, the airline industry is finally bouncing back from the Sept. 11, 2001, terror attacks. "Five years later, what we have is a much different industry, and I think a stronger one in some sense," says US Airways CEO Douglas Parker. Sep 5, 2006
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Publication:Airguide Online
Date:Sep 11, 2006
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