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AMR (AMR)

U.S. legacy carriers like American Airlines, parent AMR (NYSE:AMR) are getting eaten up by their budget-carrier rivals, losing significant market share to the younger upstarts over the last six years, according to data released Monday from AirFinancials.com, said MarketWatch. Between 2003 and 2009, domestic capacity at the legacy airlines have declined by 85 billion available seat miles (ASM), or by 21%, on average. Over the same period, capacity among low-cost carriers added over 84 billion ASMs.
"The challenge for the old legacy airlines is to find a way to be cost competitive with these growing domestic carriers that have never incurred some of the legacy expenses," AirFinancials.com said

Mar 8 · 3:09:00 PM · Source: MarketWatch
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by Steve Wieczorek

Allegiant Travel Company (ALGT)

Allegiant (NASDAQ:ALGT) to acquire six Boeing B757-200s according to the Center for Asia Pacific Aviation. Allegiant's shares slipped 0.2% yesterday, as the carrier signed a forward purchase agreement to acquire six B757-200 aircraft, signalling a change from a single-aircraft fleet of MD-80s. The introduction of the B757 aircraft will enable Allegiant to expand its leisure travel strategy into Hawaii, a market which it cannot serve with its existing fleet of MD-80s.
Allegiant expects to invest between USD75 million and USD90 million through 2012 acquiring and preparing this fleet for service. The LCC currently operates 46 MD-80 aircraft and expects to have 54 aircraft in service by the end of 2010

Mar 8 · 2:50:00 PM · Source: Center for Asia Pacific Aviation
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by Steve Wieczorek

JetBlue Airways Corporation (JBLU)

Fitch Ratings affirmed the Issuer Default Rating (IDR) for JetBlue Airways (NASDAQ:JBLU) at 'B-' and the senior unsecured rating, which applies to approximately USD470 million of convertible notes, at 'CC' with a Recovery Rating of 'RR6', according to the Center for Asia Pacific Aviation. The airline's rating outlook has been revised from 'Negative' to 'Stable'. JetBlue’s shares slipped 0.2% on Friday.
Fitch stated the affirmation of JBLU's ratings and the outlook revision reflect its view that the airline is in a “good position to deliver improved operating results and a second consecutive year of positive free cash flow (FCF) as the economy recovers in 2010”.

Mar 8 · 2:22:00 PM · Source: Center for Asia Pacific Aviation
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by Steve Wieczorek

Southwest Airlines (LUV)

Southwest Airlines shares gained 0.6% on Friday, upon the release of the carrier’s Feb-2010 traffic results according to the Center for Asia Pacific Aviation. Southwest stated weather-related flight cancellations during the month reduced passenger revenues by an estimated USD15 million. Comparatively, Continental and US Airways have estimated losses of USD25 million and USD30 million, respectively, due to the February storms, which caused airlines to cancel thousands of flights and resulted in delays to many others.
However, the low cost carrier's (LCC) passenger revenue per available seat mile (PRASM) is estimated to have increased in the 16-17% range in the month (although these results were partially a result of the cancelled services). Southwest has reported strong growth in unit revenue since Sep-2009, with Feb-2010’s PRASM levels the highest since Southwest emerged from PRASM declines in Aug-2009.

Mar 8 · 2:16:00 PM · Source: Center for Asia Pacific Aviation
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by Steve Wieczorek

UAL Corp. (UAUA)

UAL Corporation (NASDAQ:UAUA), parent company of United Airlines, announced today that it has named Dana Sacks vice president - Human Resources Partners and Talent Acquisition. Sacks will be responsible for leading the HR support team for the company's business leaders and for talent acquisition. Most recently Sacks served as vice president of Human Resources for PepsiAmericas.
Sacks will report to Marc Ugol, senior vice president - Human Resources. "Having Dana join the team reinforces our commitment to further driving a performance culture, and to attracting and retaining a highly talented workforce," said Ugol. "We continue to invest in developing a world class Human Resources organization to help drive our business performance."

Mar 5 · 2:43:00 PM · Source: Company Press Release
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by Steve Wieczorek

AMR (AMR)

The Transport Workers Union, which represents 28,000 workers at American Airlines (NYSE: AMR) and regional carrier American Eagle, has several bargaining units in contract negotiations with American, according to TradingMarkest.com. American has said it hopes to negotiate contracts that help the company be more productive and competitive.
Under the Railway Labor Act, which governs collective bargaining in the airline industry, unions cannot strike without first asking the mediation board to declare an impasse to seek release from negotiations. If the board decides to release the union from mediation, a 30-day cooling-off period must expire before a strike or a lockout can begin.

Mar 5 · 2:26:00 PM · Source: TradingMarkets.com
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by Steve Wieczorek

Atlas Air Worldwide Holdings (AAWW)

Boeing Awards Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW) Long-Term Contract to Operate Dreamlifter Fleet in Support of 787 Dreamliner Program. Beginning toward the latter part of 2010, Atlas Air will operate Boeing’s Dreamlifter fleet of four 747-400 aircraft that have been modified to transport major assemblies for the 787 Dreamliner from suppliers around the world to Boeing production facilities in the United States.
The parties have structured the nine-year agreement under which Atlas Air will receive contractually determined revenues for the operation of the Dreamlifter aircraft, with Boeing assuming responsibility for certain direct costs, including fuel. Under the CMI arrangement, Boeing will provide and maintain ownership of the aircraft assets.

Mar 5 · 12:03:00 PM · Source: Company Press Release
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by Steve Wieczorek

FedEx (FDX)

Fortune magazine has ranked FedEx Corp. (NYSE:FDX) among the top 20 most admired companies in the world for the 10th consecutive year, according to MSN Money. The Memphis-based shipping giant was listed at No. 13, according to the publication’s latest survey.
Fortune cited the ability of FedEx to manage costs while maintaining service levels during the economic downturn, and increased demand in international business.

Mar 5 · 11:39:00 AM · Source: MSN Money
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by Steve Wieczorek

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