Market News
China Eastern Airlines (CEA)
China Eastern Airlines (NYSE:CES) announced Thursday that it will launch a business integration between its Beijing branch and Beijing-based Shanghai Airlines (SAL), according to the China Business News and Alibaba.com.
The integration will include route networks, marketing management and security services. The action will ensure flight operations in Beijing during the 2010 Shanghai Expo.
"Shanghai Airlines will shift from Terminal 3 to Terminal 2 in Beijing Capital International Airport before March 28. And CES and SAL will operation on a combined basis", said Qiu Hongping, an official with CES responsible for the project. CES and SAL aim to expand the market share in Beijing through their consolidation. And the joint operation which is expected to be finished in March in Beijing marks the beginning of a new China Eastern Airlines, said Qiu.
Feb 26 · 3:38:00 PM · Source: Alibaba.com
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by Steve Wieczorek
US Airways (LCC)
US Airways (NYSE: LCC) customers will soon enjoy greater access to Europe and Africa inpart to a new codeshare agreement with Brussels Airlines. The agreement is subject to both U.S. Department of Transportation (DOT) and Belgium government approval. The two Star Alliance carriers have agreed to a bilateral codeshare relationship which means that each airline may market flights operated by the other carrier as if the flying were its own.
For US Airways customers, this agreement will eventually provide single-source booking, ticketing and baggage connection options for more than 20 new destinations in Europe and Africa, including points in Gambia, Senegal, Cameroon and Kenya.
Feb 26 · 3:16:00 PM · Source: Company Press Release
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by Steve Wieczorek
Delta Air Lines (DAL)
Delta Air Lines (NYSE: DAL) today received notification from the National Mediation Board (NMB) that a majority of eligible flight simulator technicians rejected union representation by the International Association of Machinists (IAM). Ninety-one flight simulator technicians were eligible to vote in this election. Of those, only 40 voted in favor of IAM representation.
"Our flight simulator technicians have made a decisive choice not to have IAM representation,” said Mike Campbell, Delta's executive vice president of Human Resources and Labor Relations. “We take our responsibility to do right by our people very seriously and we’ll continue to do everything we can to make Delta a great place to work."
Feb 26 · 3:03:00 PM · Source: Company Press Release
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by Steve Wieczorek
China Eastern Airlines (CEA)
China Southern Airlines (NYSE: ZNH) is set to receive another ¥1.5 billion ($1 = ¥6.83) in government funding after an injection of the same size last month, the nation's biggest carrier said Tuesday, according to The China Perspective. The news is an impetus to the Guangdong province-based airline's talks for a partnership with Air France that has dragged on for two years. The joint venture is expected to operate the Guangzhou-Paris flight in October.
China Southern Airlines is Chinas largest airline and operates 342 jet aircraft serving destinations to 841 cities in 162 countries
Feb 26 · 2:55:00 PM · Source: The China Perspective
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by Steve Wieczorek
Continental Airlines (CAL)
Continental Airlines (NYSE: CAL) today announced the expansion of its mobile boarding pass service to London's Heathrow Airport, becoming the first carrier to offer paperless boarding passes on nonstop flights from the United Kingdom to the U.S. The service allows customers to receive boarding passes electronically on their cell phones or PDAs and eliminates the need for paper boarding passes. Mobile boarding passes display a two-dimensional bar code along with passenger and flight information, which scanners at the security checkpoint and boarding gate validate. The technology prevents manipulation or duplication of the boarding passes and heightens security.
Continental was the first carrier to offer paperless boarding passes in the U.S. in a pilot program with the Transportation Security Administration that began in December 2007. The airline currently offers mobile boarding passes at 42 airports, including its hubs in New York, Houston and Cleveland. Continental was the first U.S. carrier to offer mobile boarding passes from an international destination when it launched the service at Frankfurt Airport late last year.
Feb 26 · 1:48:00 PM · Source: Company Press Release
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by Steve Wieczorek
AMR (AMR)
AMR Corp. (NYSE:AMR) subsidiary American Airlines, and all of the major US airlines are taking a more cautious, though varied, approach to fuel hedging this year, after incurring blistering losses from hedges in 2008 when oil prices spiked then tumbled, according to AirWise. At the beginning of this year, American Airlines had hedged 24 percent of its full-year fuel requirements, down from 35 percent at the same time last year for the whole of 2009. Currently for 2011 only a small percentage is hedged.
"We know what can happen when market conditions change or market sentiments change. We still cast a very cautious eye on oil prices," Tom Horton, chief financial officer of American Airlines parent AMR, told the Reuters Travel and Leisure Summit this week.
Feb 26 · 1:38:00 PM · Source: AirWise
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by Steve Wieczorek
Citigroup (C)
Citigroup Inc. has named former Mexico President Ernesto Zedillo to its board of directors. Citigroup also said former AT&T Inc. executive Michael Armstrong and Xerox Corp. Chairman Anne M. Mulcahy won’t stand for re-election at the annual shareholder meeting on April 20, Citigroup said today in a statement.
The Citigroup board overhaul continues.
Feb 26 · 10:29:00 AM
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by Larry Etter
GDP
The nation's gross domestic product, the broadest measure of the nation's economic activity, grew at an annual rate of 5.9% in the quarter, the Commerce Department reported today.
The numbers show the economy grew at a slightly faster pace than originally thought during the last three months of 2009.
Feb 26 · 10:19:00 AM
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by Larry Etter
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