MAS is seaking short-term cash injection

Malaysia Airlines will introduce a rigorous and disciplined cash management programme to stop and reduce the cash-burn rate of the company, both in terms of operating cost and also capital expenditure. It also seeks avenues to secure immediate short-term cash injection and financing, including sale of assets. MAS is currently in discussion with the Government on the modality of such financial support. Various cost reduction programs are being pursued as part of the Business Turnaround Map.

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Delta pilots approve new agreement

Delta Air Lines pilots ratified an interim agreement that provides for a 14 percent hourly wage reduction and reductions in other pilot pay and cost items equivalent to approximately an additional 1 percent in pilot pay. The interim agreement will result in pilot cost reductions of approximately $143 million on an annualized basis. The agreement is effective as of Dec. 15, 2005, and will remain in effect while the parties seek to reach a comprehensive agreement. Under the terms of the interim agreement, the company and ALPA have pledged to commit their full resources to negotiate a tentative comprehensive agreement Read more

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World Air will add one additonal 767

World Air Holdings, Inc., parent company of World Airways and North American Airlines, has signed a letter of intent to lease an additional Boeing 767-300ER passenger aircraft for delivery to North American in December 2006. The initial lease will be for three years. The aircraft will be North American

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Continental will withdraw 69 regional jets operated by ExpressJet

Continental Airlines announced that it has given notice to withdraw 69 of 274 regional jet aircraft from its capacity purchase agreement with ExpressJet Holdings, Inc. and ExpressJet Airlines, Inc. ExpressJet is currently the exclusive operator of regional jet services for Continental Airlines. Continental will request proposals from numerous regional jet operators to provide regional jet service to replace the withdrawn capacity. The transition of service from ExpressJet to a new operator is expected to begin in January 2007 and be completed during the summer of 2007. Continental and ExpressJet attempted to negotiate a more competitive long-term contract, but the parties Read more

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