Market News

Atlas Air Worldwide Holdings (AAWW)

Atlas Air and Rock-It Cargo to Support Summer 2010 Metallica Tour Across South and Latin Americas. Atlas Air Worldwide Holdings, Inc. (AAWW) (Nasdaq: AAWW), a leading provider of global air cargo assets and outsourced aircraft operating services, announced today that its Atlas Air, Inc. operating unit has signed an agreement with its longtime customer, Rock-It Cargo, to support the upcoming tour dates of Rock and Roll Hall of Fame inductee, and globally renowned, rock band Metallica.
Atlas will operate six flights in support of the 2010 Metallica tour, delivering stage, lighting and heavy music equipment aboard its modern Boeing 747-400 freighters. “Rock-It has successfully supported Madonna, The Police, Boeing, APR Energy, Cirque du Soleil, The PGA Tour, major trade shows, and major museums with their most critical freight logistics. "We choose to partner with Atlas Air because of their high-quality aircraft and strong operational support,” said David Bernstein, CEO of Rock-It Cargo.

Feb 17 · 2:36:00 PM
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by Steve Wieczorek

Southwest Airlines (LUV)

LUV is in the air at Philadelphia International Airport (PHL)! Southwest Airlines joined Philadelphia Mayor Michael A. Nutter and other dignitaries today at a ribbon cutting ceremony officially opening Southwest's new home in Terminal E at PHL. The recently completed $45 million Terminal E Expansion features seven new aircraft gates, a 500-seat holding area, new restrooms, a mini-food court with new concessions, and a fantastic new piece of permanent artwork installed as part of the City's Percent for Art Program.
"This new facility, that now allows us to operate out of one concourse, is a wonderful example of both Southwest Airlines and the City of Philadelphia working together in a public-private partnership to enhance air travel for the entire City," stated Bob Montgomery, Southwest Airlines Vice President of Properties. "I know all of our hard-working Southwest Employees here in Philadelphia can't wait to continue providing our legendary Customer Service from our new home in Terminal E." During the ceremony, Montgomery also announced a new destination for Philadelphians. Beginning June 27, 2010, the carrier is starting new service between Philadelphia and Boston Logan (BOS).

Feb 17 · 2:12:00 PM · Source: Company Press Release
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by Steve Wieczorek

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

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