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UAL Corp. (UAUA)
Glenn F. Tilton, UAL Chairman, President and Chief Executive Officer of United Airlines, a wholly-owned subsidiary of UAL Corporation (Nasdaq: UAUA), has hinted at the benefits of renewing merger talks with Continental Airlines, saying the market had judged in favor of rival Delta’s takeover of Northwest Airlines, according to the Financial Times.
“The market capitalisation of Delta is approximately twice the combined market capitalisation of United and Continental,” said Tilton.
Jeff Smisek, President and COO of Continental, has since said that he was “very pleased” to remain independent but would review that position if Delta’s takeover of Northwest resulted in higher earnings and tougher competition.
“I think my counterpart [at Continental] has spoken and I think he’s been pretty clear,” Mr Tilton said. “So I accept that as their position and we’re taking full advantage of our partner relationship.”
Merger talks between United and Continental ended in April 2008. Continental then left the SkyTeam alliance headed by Delta and Air France, and joined United in the rival Star Alliance.
Feb 16 · 1:47:00 PM
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by Steve Wieczorek
SkyWest (SKYW)
SkyWest, Inc. (“SkyWest”) (NASDAQ: SKYW) reported operating revenues of $604.4 million for the quarter ended December 31, 2009, compared to $743.3 million for the same period last year. SkyWest also reported net income of $19.5 million or $0.34 per diluted share, for the quarter ended December 31, 2009, compared to $21.2 million of net income or $0.37 per diluted share, for the same period last year.
SkyWest also reported operating revenues of $2.61 billion for the year ended December 31, 2009, compared to $3.50 billion for the year ended December 31, 2008. SkyWest reported net income of $83.7 million or $1.47 per diluted share, for the year ended December 31, 2009, compared to $112.9 million of net income, or $1.93 per diluted share for the year ended December 31, 2008.
Total operating expense and interest per available seat mile (“ASM”) for the fourth quarter of 2009, excluding fuel expense of $59.2 million, or $0.011 per ASM, decreased 6.9% to $0.094 from $0.101 for the comparable quarter of 2008. The decrease is primarily due to the overall reduction in personnel (full-time equivalent basis) by approximately 8.1% for the quarter ended December 31, 2009, compared to the same period last year, while at the same time experiencing an increase in ASM production by approximately 7.5% for the comparable periods. The decrease was also partially attributable to flying more regional jets, with larger seating capacity, that typically generate more ASMs than smaller aircraft flying the same routes. Total operating expense and interest, excluding fuel expense, was $517.9 million for the quarter ended December 31, 2009, compared to $517.1 million for the quarter ended December 31, 2008.
Feb 16 · 12:18:00 PM
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by Steve Wieczorek
SkyWest (SKYW)
United Airlines is to add Minot, North Dakota, to its network with twice daily nonstop service to Denver beginning on June 9 with flights operated by its regional partner, SkyWest Airlines using 50-seat Bombardier CRJs Regional Jets, according to the Shephard Group.
“We are delighted to provide travellers in Minot with new, convenient nonstop service to Denver and access to our extensive network throughout the world,” remarked Greg Kaldahl, United’s vice-president of resource planning.
“Minot has had a run of good news when it comes to expanding flights, and the reason is western North Dakota is an economic powerhouse that needs access to frequent and affordable flights that go both east and west,” commented US Senator Byron Dorgan (Democrat, ND), who is chairman of the Aviation Operations, Safety and Security Subcommittee in the Senate. Senator Dorgan was referring to news announced on February 11 that Delta Air Lines is to begin flights to Salt Lake City starting on May 3, also operated by SkyWest.
Feb 16 · 12:08:00 PM
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by Steve Wieczorek
Qwest Communications (Q)
Qwest today reported fourth quarter net income of $108 million, or 6 cents a share. compared with $177 million, or 10 cents a share, a year earlier. Revenue fell 9.7% to $2.99 billion.
Including an expense adjustment, Qwest met Wall Street's forecasts. Qw
Feb 16 · 11:44:00 AM · Source: Company Press Release
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by Larry Etter
Qwest Communications (Q)
Qwest today reported fourth quarter net income of $108 million, or 6 cents a share. compared with $177 million, or 10 cents a share, a year earlier. Revenue fell 9.7% to $2.99 billion.
Including an expense adjustment, Qwest met Wall Street's forecasts. Qw
Feb 16 · 11:43:00 AM · Source: Company Press Release
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by Larry Etter
Simon Property Group (SPG)
Simon Property Group Inc. Tuesday said it has made an offer to acquire General Growth Properties Inc., the real estate investment trust that filed for bankruptcy last year, in a deal valued at over $10 billion, including about $9 billion in cash. The offer includes a consideration to creditors totaling some $7 billion,
Feb 16 · 11:39:00 AM · Source: Company Press Release
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by Larry Etter
J.P. Morgan (JPM)
J.P. Morgan announced today that it will acquire RBS Sempra Commodities' global oil, global metals and European power and gas assets. The transaction is expected to close in the second quarter of 2010, pending regulatory approvals. These assets will be integrated into J.P. Morgan's existing Global Commodities business, led by Blythe Masters.
Feb 16 · 11:30:00 AM · Source: Company Press Release
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by Larry Etter
Oracle (ORCL)
Oracle today announced new and upgraded applications for its unified suite of financial services analytical applications for enterprise performance management (EPM).
The applications continue the Oracle's commitment to help financial services institutions manage unprecedented and growing risk levels,
Feb 16 · 11:22:00 AM · Source: Company Press Release
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by Larry Etter
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