Lockheed Martin announces first quarter 2008 results

Lockheed Martin Corporation reported first quarter 2008 net earnings of $730 million compared to $690 million in 2007. Net sales were $10.0 billion, an 8% increase over first quarter 2007 sales of $9.3 billion. Cash from operations for the first quarter of 2008 was $882 million, compared to $1.5 billion in 2007.

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Airbus increases aircraft list prices

Airbus announced a general price increase for its aircraft. On top of the 2.74% normal escalation for the year 2007, the price increase comprises an additional two million US Dollars per single-aisle aircraft and four million US Dollars per wide-body long range and A380 Family aircraft. The new pricing will apply as of 1st May *. The price increase is mainly triggered by the weak US currency and the overall increase of world market

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Honeywell reports first quarter sales up 11% to $8.9 billion

Honeywell reported first quarter 2008 sales increased 11% to $8.9 billion from $8.0 billion in 2007. Earnings were up 30% to $0.85 per share, versus $0.66 per share in the prior year. Cash flow from operations was $721 million versus $578 million in the first quarter of 2007 and free cash flow (cash flow from operations less capital expenditures) was $571 million, compared to $458 million last year, in each case an increase of 25%.

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Continental Airlines reports first quarter net loss

Continental Airlines reported a first quarter 2008 net loss of $80 million. Excluding a $5 million after tax gain from the sale of aircraft, Continental recorded a net loss of $85 million. Continental plans to remove from service an additional 14 older, less fuel efficient 737-300 aircraft as leases expire on those aircraft from September 2008 to April 2009. These 14 737-300s are in addition to the 34 737-300s and 500s that were already planned to be removed from service in 2008 and 2009.

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Southwest Airlines reports first quarter earnings

Southwest Airlines reported its first quarter 2008 results. Net income for first quarter 2008 was $34 million compared to $93 million for first quarter 2007. Excluding special items, first quarter 2008 net income was $43 million compared to $33 million in first quarter 2007.

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AMR Corporation reports first quarter 2008 net loss of $328 million

AMR Corporation reported a net loss of $328 million for the first quarter of 2008. The current quarter results compare to a net profit of $81 million for the first quarter of 2007. Record jet fuel prices contributed significantly to the Company’s loss in the first quarter of 2008. The Company paid $665 million more for fuel in the first quarter of 2008 than it would have paid at prevailing prices from the prior-year period.

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Delta and Northwest to merge

Delta Air Lines and Northwest Airlines announced an agreement in which the two carriers will combine in an all-stock transaction with a combined enterprise value of $17.7 billion, creating America’s premier global airline. The new airline, which will be called Delta, will provide employees with greater job security, an equity stake in the combined airline, and a more stable platform for future growth in the face of significant economic pressures from rising fuel costs and intense competition. Delta CEO Richard Anderson will be chief executive officer of the combined company. Delta Chairman of the Board Daniel Carp will become chairman Read more

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Frontier Airlines receives court approval for first day motions

Frontier Airlines released that a judge of the U.S. Bankruptcy Court for the Southern District of New York has approved the “first day motions” that Frontier and its subsidiaries submitted as part of their voluntary filing for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Approval of these critical motions helps to ensure Frontier’s ability to conduct normal business operations during the reorganization.

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