Printer Friendly

Airline Finance News - North America.

Apr 16, 2007

Air Canada

Air Canada said that an arbitrator awarded approximately 6,000 flight attendants represented by the Canadian Union of Public Employees a 2% wage increase effective July 2006, another 1.75% increase effective in July 2007 and an additional 1.75% in July 2008. "With receipt of this decision, the wage review process agreed to with all labor groups in 2003 has concluded," Air Canada said. Apr 12, 2007

Air Canada

Air Canada flew 3.94 billion RPMs in March, up 5% on the year-ago month. Capacity rose 2% to 4.7 billion ASMs, lifting load factor 2.4 points to 83.8% Apr 10, 2007

AirTran Airways, Midwest

AirTran faces strike three, calls Midwest 'delusional' The board of Midwest Air Group reviewed and unanimously rejected AirTran Holdings' third merger proposal last week, prompting the Atlanta-based carrier to label its target "irresponsible" and "delusional" in a Friday statement. Apr 13, 2007

Alaska Airlines

Alaska Airlines flew 1.53 billion RPMs in March, a 0.5% increase from the year-ago month. Capacity was up 2.3% to 1.99 billion ASMs and load factor dropped 1.4 points to 76.8%. Apr 11, 2007

American Airlines

American reminds unions of labor laws Plans by unions to protest executive bonuses prompted American Airlines to send letters to the unions reminding them of labor laws. Federal laws forbid employees from disrupting carriers' operations. "We expect the unions will respect the law, and they're free to express their opinions as they see fit within the law itself," an American spokeswoman says. Apr 12, 2007

American Airlines

American may benefit from open-skies agreement Four U.S. carriers have announced routes they hope to fly from London's Heathrow Airport. Meanwhile, American Airlines hasn't indicated any new plans, and observers say it could be hurt by the increased competition. However, American officials say American could benefit from the new open-skies agreement because the agreement allows code-sharing flights. Apr 10, 2007

American Airlines

American Airlines faces labor relations challenges Some employees at American Airlines are criticizing bonuses paid to executives. However, officials at the airline say its level of executive compensation is similar to other airline and non-airline companies. American is also on track to make profit-sharing payments to employees this year. Apr 9, 2007

Continental Airlines

Continental Airlines contributed an additional $30 million in cash to its defined benefit pension plans, bringing its year-to-date contribution to $136 million. It expects to put in $320 million this year. Apr 12, 2007

Continental Airlines

Continental Airlines announced the sale of $1.15 billion worth of pass-through certificates, issued in three separate series, that will be used to finance its purchase of 30 Boeing 737-800s and 737-900ERs scheduled for delivery in the January 2008-March 2009 timeframe. The proceeds initially will be held in escrow by an unidentified depository institution. The escrowed funds will be used to acquire equipment notes issued by CO to finance the aircraft. The three classes have coupons of 5.983%, 6.903% and 7.339% per annum. Apr 11, 2007

Delta Air Lines

Delta completes renovation of Atlanta lobby: Delta Air Lines has finished the $26 million renovation of its lobby at the Atlanta airport. The lobby now features 12,500 square feet of open space, several baggage drop areas and multilingual signs. Apr 12, 2007

Delta Air Lines

Creditors object to Delta's restructuring plan More than a dozen Delta Air Lines creditors have filed objections to the airline's restructuring plan. The airline says procedural objections are common and that Delta executives remain confident the carrier will exit bankruptcy this month. Apr 11, 2007

Delta Air Lines

Republic Airways Holdings announced the sale of its $91 million pre-petition unsecured creditor claim in Delta Air Lines' bankruptcy for $44.6 million. The transaction will close April 11. Republic subsidiaries Chautauqua Airlines and Shuttle America operate as Delta Connection. Apr 10, 2007

Delta Air Lines

Republic Sells Delta Bankruptcy Claim Republic Airways said on Monday it has sold a USD$91 million unsecured creditor claim in Delta Air Lines' bankruptcy case to an unidentified buyer for USD$44.59 million. Apr 10, 2007

Delta Air Lines

Delta prepares to leave bankruptcy protection this month Creditors are expected to approve Delta Air Lines' restructuring plan, but the real challenge for the airline will arrive when it emerges from bankruptcy protection at the end of this month. Higher fuel prices and stiff competition could affect the airline's progress. "You get out of bankruptcy, and it's easy to get fat," Chief Operating Officer James Whitehurst says. "We have to continue to think [about] the 100 things we didn't do" during bankruptcy protection. Apr 9, 2007

Delta Air Lines

Delta Air Lines will take over Atlantic Southeast Airlines' customer service and ground operations in Atlanta from June 1. It took over for Chautauqua Airlines, Shuttle America and Freedom Airlines last year. "Our customers expect and deserve a convenient, reliable travel experience onboard all Delta and Delta Connection flights," Executive VP-Operations Joe Kolshak said. ASA had the second-worst ontime arrival rate (66.9%) of the 20 reporting carriers in the US Bureau or Transportation Statistics' January report. Apr 9, 2007

Delta Air Lines

Delta prepares to leave bankruptcy protection this month Creditors are expected to approve Delta Air Lines' restructuring plan, but the real challenge for the airline will arrive when it emerges from bankruptcy protection at the end of this month. Higher fuel prices and stiff competition could affect the airline's progress. "You get out of bankruptcy, and it's easy to get fat," Chief Operating Officer James Whitehurst says. "We have to continue to think [about] the 100 things we didn't do" during bankruptcy protection. Apr 9, 2007

Delta Air Lines, Air France-KLM

Air France Denies Interest In US Partners Air France-KLM denied on Thursday a report it may acquire minority stakes in US partner carriers Delta Air Lines and Northwest Airlines. Apr 12, 2007

Hawaiian Airlines

Hawaiian Airlines led US carriers with a 93.8% ontime percentage in March, according to data compiled by FlightStats. Among continental carriers, Horizon Air (86.8%) and Southwest Airlines (84.4%) were the most punctual of the 39 measured. Worst ontime rates belonged to Midwest Connect (13.3%) and US Airways (56.6%). Sun Country Airlines was the only carrier not to cancel a single flight, while Midwest Connect cancelled 8.7% and Northwest Airlink 4.9%. Apr 11, 2007

Mesa Air Group

Mesa Air Group Chairman and CEO Jonathan Ornstein said hiring enough employees to keep pace with growth, much of which is within his own company, will be one of the most significant challenges facing regional airlines this year. Apr 13, 2007

Mesa Air Group

Shenzhen, Mesa to challenge HNA Group's new regional with Kunpeng Airlines The regional joint venture between Shenzhen Airlines and Mesa Air Group, announced last December, will be called Kunpeng Airlines and will launch operations in Xi'an with three CRJ200s at year end. Apr 11, 2007

Mesa Air Group

Mesa Air Group named Freedom Airlines President and Senior VP-West Coast Operations Mike Ferverda as COO of its JV with Shenzhen Airlines, Bombardier Flexjet VP-Marketing Tom Bacon as VP-planning, VP-East Coast Operations Jorn Bates as Freedom COO, Director-MRO Services Gary Appling as VP-technical services and purchasing, Director-Corporate Development Jeff Bethune as VP-financial planning and analysis and Adam Wilensky as director-planning. Apr 9, 2007

Mesaba Airlines

Court confirms Mesaba's reorganization plan Mesaba Airlines said Tuesday a bankruptcy court has confirmed its reorganization plan. The airline expects to leave bankruptcy protection later this month. "Today's confirmation of our plan by the bankruptcy court validates 18 months of work to make Mesaba a sustainable regional carrier, positioned to become a wholly owned subsidiary of Northwest Airlines," President John Spanjers said. Apr 11, 2007

Northern Lights Airlines

Northern Lights Airlines is the name of a new charter carrier being established in Canada, led by majority investor ICBS Ltd., which will own 50%. ICBS said the airline will launch in October and "exploit a gap in the long-haul international travel market that exists in low-cost, high-comfort and high-quality service originating in Montreal and Toronto." It said the market remains underserved despite the presence of Skyservice Airlines, Zoom Airlines and Air Transat. No information was provided regarding equipment. Apr 11, 2007

Northwest Airlines

Judge appoints new examiner in Northwest case A judge has appointed a new examiner to investigate the Northwest Airlines bankruptcy case. The first examiner resigned one day after the judge approved his appointment. The examiner will determine whether Northwest properly valued its assets. Apr 12, 2007

Northwest Airlines

Senators blast airlines, push passenger rights legislation US Sen. Barbara Boxer (D-Calif.), a leading advocate for legislation that would establish a federal "Passenger Bill of Rights," told Air Transport Assn. President and CEO James May during a Senate hearing yesterday that he was "living in a dream world" and blasted airlines that have not "lived up" to voluntary customer service rules they claimed to adopt in 1999 after 4,000 passengers were stranded on Northwest Airlines' aircraft for up to 8 hr. during a Detroit snowstorm. Apr 12, 2007

Northwest Airlines

Delta, Northwest Shares Poised To Be At Head Of Pack Delta Air Lines and Northwest Airlines are set to emerge from bankruptcy as two of the highest valued airlines in the United States, but softening travel demand and rampant competition could send them crashing down again. Apr 10, 2007

Northwest Airlines

Judge may rule this week on Northwest union dispute A federal bankruptcy judge may rule this week on a request by Northwest Airlines flight attendants that their contract be put back in place. The judge allowed Northwest to terminate the contract in June. In a court filing, Northwest said the flight attendants' "redress is in the bargaining room," not the courts. Apr 9, 2007

Northwest Airlines

Northwest Airlines flew 7.02 billion consolidated RPMs in March, a 1.3% rise from the year-ago month, as domestic traffic climbed 3.1% and international rose 1.4%. Regional traffic declined 12.9%. Capacity was up 1.8% to 8.19 billion ASMs on a 2.6% domestic increase and a 3.7% rise in international ASMs. Load factor fell 0.4 point to 85.7%. Domestic loads rose 0.4 point to 84.9% and international dropped 2.1 points to 89%. Apr 9, 2007

Republic Airlines

Republic Airlines flew 671.3 million RPMs in March, up 24.2% on the year-ago month. Capacity rose 24.5% to 885.8 million ASMs and load factor fell 0.1 point to 75.8%. Apr 11, 2007

Texas Pacific Group

Texas Pacific Group reportedly is considering raising its bid for Iberia from [logical not]3.60 per share to[logical not]4.03, which would lift its valuation of the Spanish carrier to [logical not]3.8 billion, according to airline sources cited by El Mundo. The IB board is scheduled to decide this week on TPG's approach and request for information Apr 11, 2007

US Airways

US Airways stays on profit track despite first-quarter disruptions Despite a rough winter in the US Northeast and glitches related to last month's reservation system migration, US Airways Group still expects to report a first-quarter profit. Apr 10, 2007

US Airways, Delta Air Lines, AirTran Airways

US consolidation begins with ATA acquisition of World Air Airline consolidation in the US began last week on a smaller scale than the failed mega-merger between US Airways and Delta Air Lines and AirTran Airways' contentious pursuit of Midwest Air Group as ATA Airlines parent ATA Holdings bought out World Air Holdings, parent of World Airways and North American Airlines, for $315 million in cash or $12.50 per share. Apr 9, 2007

Z

Editor: Aram Gesar, eMail: edit@AirGuideOnline.com For Air Transport & Travel Business Experts contact 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.

Apr 9, 2007
COPYRIGHT 2007 Pyramid Media Group, Inc
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Airguide Online
Date:Apr 16, 2007
Words:2043
Previous Article:Airline Finance News - Latin America / Caribbean.
Next Article:Airport News - Asia / Pacific.
Topics:


Related Articles
Airline Finance News - North America.
Airline Finance News.
Airline Finance News.
Company Watch - Virgin Group.
Airline Finance News.
Company Watch - Southwest Airlines.
Aircraft News - North America.
Company Watch - Boeing.
Company Watch - Virgin Group.
Company Watch - Virgin Group.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters