Market News
US Airways (LCC)
The U.S. Department of Transportation said Monday it has fined US Airways (NYSE:LCC) $40,000 for not disclosing full ticket prices on its Website, according to Market Watch. The Tempe, Ariz., airline was accused of not providing additional taxes and fees on initial searches for one-way flights, nor any notice that the additional costs would be added later in the transaction.
The DOT requires Internet advertising to display the full fare after taxes and fees on the first screen, along with a hyperlink that takes consumers to a page that describes the additional charges, according to the agency.
Mar 9 · 10:15:00 AM · Source: Market Watch
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by Steve Wieczorek
Alaska Air Group Inc. (ALK)
Seattle's Pear Press has teamed with Alaska Airlines (NYSE:ALK) to promote its bestselling book "Brain Rules: 12 Principles for Surviving and Thriving at Work, Home and School" (2009) by molecular biologist John Medina, in a marketing move to overcome the challenges facing publishers in search of an ever-elusive customer base.
Pear Press founder and publisher Mark Pearson reached an agreement with Alaska Airlines in which the press has provided 10,000 copies of Brain Rules in exchange for free marketing and publicity through the month of March via the airline's website and extensive email list.
Mar 9 · 10:02:00 AM · Source: Publishers Weekly
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by Steve Wieczorek
AirTran (AAI)
AirTran Airways (NYSE:AAI), the Orlando-based discount carrier saw $5 to 6 million of revenue evaporate because of the winter storms that pounded parts of the country since the beginning of the year. According to the HeraldTribune.com, AirTran canceled over 1,400 flights over an eight-to-10-week period. That is more than it canceled over an 11-month period last year.
AirTran's first-quarter capacity will be up only 6 percent, a lower projection than the 7 percent to 8 percent increase the airline had been expecting. For the year, however, AirTran plans to increase capacity 3 percent to 4 percent.
Mar 9 · 9:53:00 AM · Source: HeraldTribune.com
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by Steve Wieczorek
China Southern Airlines Company (ZNH)
China Southern Airlines Co., (NYSE:ZNH) the country's largest carrier, said it planned to raise no more than 10.75 billion yuan (1.57 billion U.S. dollars) through private issue of Shanghai and Hong Kong-listed shares, according to TradingMarkets.com.
The sale of shares was to improve the company's capacities to cope with possible risks, according to company's statement filed to the Shanghai Stock Exchange Monday.
No more than 10 billion yuan of A shares would be raised through the private issue, according to the company. The A shares would be issued at not less than 5.66 yuan per share and the H shares at not less than 2.73 HK dollars.
Mar 8 · 3:28:00 PM · Source: TradingMarkets.com
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by Steve Wieczorek
China Eastern Airlines (CEA)
China Eastern Airlines (NYSE:CEA) has signed a multi-million dollar deal with Sabre to provide its Sabre AirVision Network planning & scheduling solutions to the airline, according to Travel Blackboard. Shanghai-based CEA, one of China’s largest airlines, recently gained approval for the acquisition of Shanghai Airlines
In addition to its takeover of Shanghai Airlines, CEA has also signed a firm order of 16 Airbus A330s to be delivered between 2011 and 2014. These new planes will be used mainly on routes to Europe, the US and Australia. While facing fierce competition in the domestic network, CEA is bullish about its international plans.
Mar 8 · 3:19:00 PM · Source: Travel Blackboard
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by Steve Wieczorek
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
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