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Ford (F)
Ford (NYSE:F) has agreed to sell its Volvo Cars unit to Chinese automaker Zhejiang Geely Golding Group (Zhejiang Province, China) for $1.8 billion, significantly less than the $6.45 billion Ford paid for Volvo in 1999, according to MarketWatch. In 2008, Ford sold the Jaguar and Land Rover brands to Tata Motors Limited, an Indian automaker, for $1.7 billion, much less than Ford originally paid for the brands.
Ford, under the direction of Alan Mulally, has significantly impacted US auto manufacturing, production and thinking, the same way that he did when he was at Boeing. Ford, the only one of the Big Three that did not take a bail-out, is slated to lead the US auto industry out of the slump that it's in, currently.
Mar 30 · 12:10:00 PM · Source: Market Watch
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by Steve Wieczorek
Republic Airways (RJET)
Employees and supporters of Frontier Airlines are worried Republic Airways (NASDAQ:RJET) may ditch the name and "spokesanimals" when the company decides on a new brand for its subsidiaries next month, according to 9News.com. A group, calling itself "Keep the Frontier Brand and Animals!!!" on Facebook, brought forward close to 150 Frontier employees Thursday afternoon. It marched from the State Capitol in Denver, CO to the 16th Street Mall and back to rally support for Frontier's name and more than 60 animals including "Larry the Lynx" and "Grizwald the Bear," who are featured on the planes' tails.
Protestors say they are worried that if the name and animals are permanently grounded, the employees will have to start from the ground up to build trust, loyalty and reputation. "We can't start over with a generic brand," Frontier pilot and rally organizer Janet Elliott said. "This truly is a family, and you really don't see that with any other airline." Republic Airways bought Frontier Airlines last year in a bankruptcy auction for $108.8 million and moved its hub to Indianapolis. It also purchased Midwest Airlines and said it wants to re-brand the whole fleet.
Mar 26 · 1:09:00 PM · Source: 9News.com
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by Steve Wieczorek
AMR (AMR)
The Allied Pilots Association (APA), certified collective bargaining agent for the 11,500 pilots of American Airlines (NYSE: AMR), voiced its support for H.R.4788, the "Aviation Jobs Outsourcing Prevention Act", according to TradingMarkets.com. Introduced earlier this month by U.S. Rep. Timothy Bishop (D-NY), the bill would establish job protections for U.S. workers by placing limits on alliances between two or more airlines, or between a domestic carrier and a foreign carrier.
The bill's language stipulates that the U.S. Department of Transportation could "end approval of any agreement, request or modification that provides for or permits the sharing or pooling of revenue or profits between participating carriers."
Mar 26 · 12:22:00 PM · Source: TradingMarkets.com
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by Steve Wieczorek
SkyWest (SKYW)
Shares of SkyWest, Inc. (NASDAQ:SKYW) closed the trading session at $14.64 placing the price action in a very tight range, given that calculated support is set at $14.31 and the calculated resistance based on an algorithm of peaks and troughs is set at $15.07, according to TradersHuddle.com. SkyWest, Inc. operates SkyWest Airlines and ASA Airlines that offer scheduled passenger service to destinations in the United States, Canada, Mexico and the Caribbean for major airlines Delta, United and AirTran.
SkyWest's stock price action indicates that both sellers and buyers are materializing very close to each other, which is indicative to a momentum building area, as the stock can resolve by breaking out of the tight range that developed. According to TradersHuddle.com individuals wanting to establish a position should place close attention to SkyWest's price action, as any movement outside its predefined range of $14.31 and $15.07 could grab the attention of momentum buyers, looking for a big movement in the price of the stock.
Mar 26 · 12:14:00 PM · Source: TradersHuddle.com
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by Steve Wieczorek
Southwest Airlines (LUV)
Southwest Airlines (NYSE:LUV) Cargo was recognized for its excellence in air cargo for the sixth straight year, being named "Airline of the Year" by the Express Delivery & Logistics Association (XLA). Southwest Airlines has placed on XLA's Airline of the Year list for nine consecutive years.
The XLA Awards are based on an annual survey of association members who use the services of commercial passenger airlines for their express deliveries around the world. Southwest took top honors in 2002, 2003, and 2005 through 2009, and finished second in the rankings in 2001 and 2004.
Mar 26 · 11:51:00 AM · Source: Company Press Release
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by Steve Wieczorek
JetBlue Airways Corporation (JBLU)
JetBlue Airways (Nasdaq: JBLU), announces today the decision to not move its corporate headquarters to Orlando and keep its headquarters in New York City. JetBlue will combine the current Forest Hills, NY and Darien, CT corporate offices, with nearly 1,000 crewmembers and business partners in total, into one main support center to be located in Long Island City, Queens. In addition, recognizing JetBlue as New York's Hometown Airline, JetBlue and New York State will begin joint branding of the world-recognized I Love NY logo, an unprecedented partnership with the State's iconic brand.
"After an exhaustive study to determine the best location for our corporate offices, we have decided that remaining in our hometown of New York makes the most sense for our company" said Dave Barger, JetBlue Chief Executive Officer. "JetBlue's plans to invest millions directly into New York's economy will create more jobs and provide more opportunities for all New Yorkers" said Governor David Paterson.
Mar 24 · 2:12:00 PM · Source: Company Press Release
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by Steve Wieczorek
AirTran (AAI)
AirTran Airways' (NYSE:AAI) market share at Milwaukee’s General Mitchell International Airport grew to 26.3 percent in January, once again narrowing the gap with Midwest Airlines, at 31.9 percent for January, which for years has held that top spot at the airport.
Orlando, Fla.-based AirTran has been undergoing an aggressive expansion at Mitchell since 2007, following its failed hostile takeover of Midwest Air Group Inc. of Oak Creek, the then-corporate parent of Midwest Airlines.
Mar 24 · 1:46:00 PM · Source: Bizjournals.com
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by Steve Wieczorek
Southwest Airlines (LUV)
Southwest Airlines (NYSE:LUV) to cut schedule 3% as it heads into fall 2010, according to the Dallas Morning News. The airline on Tuesday opened up its schedule from Aug. 15 through Oct. 30. First, there are no new cities added during that period. Secondly, it has aggressively been pruning its schedule.
Some of Southwest's Florida cities are seeing big declines, with a net loss of 15 departures at Orlando and 11 at Tampa.
Mar 24 · 1:34:00 PM · Source: Dallas Morning News
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by Steve Wieczorek
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