Northwest Airlines reaches agreement on temporary labor cost savings with pilots and flight attendants

Northwest Airlines reached interim labor cost savings agreements with the Air Lines Pilots Association (ALPA) and the Professional Flight Attendants Association (PFAA). The ALPA Master Executive Council agreed to temporary pay and other reductions of $215 million on an annualized basis and PFAA leaders agreed to cuts of $117 million. The ALPA agreement is subject to membership ratification. Northwest also confirmed that it has reached tentative agreements on permanent wage and benefit reductions with employees represented by the Aircraft Technical Support Association (ATSA) and the Northwest Airlines Meteorology Association (NAMA). The airline hopes to reach an agreement with the Transport Read more

Email Post to a Friend Email Post to a Friend

JetBlue offers new shares to raise $135 million

JetBlue Airways has priced its public offering of 7,500,000 newly issued shares of its common stock at $18.00 per share, generating gross proceeds of $135 million. The Company has also granted to the underwriters of this offering an over-allotment option to purchase up to an additional 1,125,000 shares of common stock which, if exercised in full, would generate additional gross proceeds of $20.25 million. JetBlue anticipates using the net proceeds from this offering to fund working capital and capital expenditures, including capital expenditures relating to the purchase of aircraft.

Email Post to a Friend Email Post to a Friend

American Airlines October traffic grew 1.5% year over year

American Airlines reported an October load factor of 77.1% (74.9% in 2004). Traffic grew by 1.5% year over year, on a 1.5% reduction in capacity. The airline reported 10,873 million RPM (10,717 in 2004). International traffic increased by 4.4% relative to last year, on a capacity increase of 4.7%. Domestic traffic was essentially flat compared with last year despite a 4.6% reduction in capacity. American boarded 7.7 million passengers in October.

Email Post to a Friend Email Post to a Friend

Third A380 performs first flight

Airbus’ third A380, MSN 2, performed its first flight on 3rd November. The flight lasted three hours and took the aircraft over Southern France. During the flight, all systems were checked out and the whole flight envelope was cleared. The tests performed were similar to those of a serial production plane. The aircraft joins the first two A380s which, together, have already performed some 440 test flight hours in over 120 flights. These three development aircraft are powered by Rolls-Royce Trent 900 engines.

Email Post to a Friend Email Post to a Friend