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United Technologies (UTX)
Sikorsky Aircraft Corp.
and Terma A/S today announced the signing of a Memorandum of Understanding to
explore potential collaborations if the Danish government decides to procure
Sikorsky MH-60R SEAHAWK helicopters.
"We see potentially strong synergies between our companies and the combined
support they could bring to the Danish Maritime Helicopter Program," said
Leonard Wengler, Vice President, Navy Programs for Sikorsky. "The MH-60R
helicopter, dubbed the 'Romeo,' is the most advanced multi-mission naval
helicopter available today with demonstrated effectiveness during deployment
with the U.S. Navy in 2009. Terma's aerospace experience and expertise,
including the production of advanced aerostructures and electronic warfare
equipment, provide promising opportunities for collaboration."
Feb 16 · 2:36:00 PM · Source: Reuters
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by Michael Oliveto
GE (GE)
Maintaining momentum in its renewable energy investing, GE Energy Financial Services, a unit of GE, announced today it had made an equity investment in a wind farm CPV Renewable Energy Company is developing in Oklahoma.
GE Energy Financial Services is making a $65 million preferred equity investment to fund construction of the CPV Keenan II wind farm, with an option to invest $100 million more in partnership equity upon commencement of commercial operations.
Feb 16 · 2:32:00 PM · Source: Company Press Release
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by Michael Oliveto
Caterpillar (CAT)
BP plc, ConocoPhillips and Caterpillar are quitting the U.S. Climate Action Partnership, a broad group of businesses and environmental organizations that has been instrumental in building support in Washington for capping U.S. emissions of greenhouse gases.
BP plc, ConocoPhillips and Caterpillar Inc. have decided against renewing their membership in the organization.
Feb 16 · 2:28:00 PM · Source: Reuters · Related: BP
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by Michael Oliveto
Boeing (BA)
The Boeing 747-8 Freighter successfully took to the sky for the first time, the flight begins a test program for the world’s most efficient freighter.
Flight was the first of more than 1,600 flight hours in the test program for the newest member of the Boeing freighter family. The 747-8 Freighter is the new, high-capacity 747 that will give cargo operators the lowest operating costs and best economics of any freighter.
Feb 16 · 2:26:00 PM · Source: Daily Times
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by Michael Oliveto
UAL Corp. (UAUA)
United Airlines announced the company was first in on-time performance for domestic scheduled flights among America’s five largest global carriers for 2009 as measured by the U.S. Department of Transportation (DOT) and published in the Air Travel Consumer Report released today.
Among this group of carriers, United climbed to first place for calendar year 2009, surpassing Delta (including its Northwest subsidiary), American, Continental and US Airways, with 81 percent of United flights arriving at their destinations within 14 minutes of the scheduled arrival time. United’s year-over-year improvement on this measure was nearly 10 percentage points. Preliminary statistics indicate the company’s leading performance continued through January 2010
“This performance improvement demonstrates United’s commitment to getting our customers to where they need to be safely and on time,” said John Tague, president of United Airlines. “This is the direct result of the work we did in 2009 through good weather and bad, at each airport, and across every department and work group.”
In late 2008, United launched a back-to-basics effort – Focus on 5 – designed to shape the company’s activities around safety, reliability, customer service and financial performance.
Feb 16 · 2:17:00 PM · Source: Company Press Release
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by Steve Wieczorek
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
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