Judge Approves American-US Airways Merger
A federal bankruptcy judge signed off Wednesday on the $11 billion merger of American Airlines and US Airways, clearing the way for the forming of the world's biggest airline.
AMR Corp.
American Airlines Parent Company AMR Corporation Expects 4,400 Job Cuts, Warns 11,000
American Airlines is sending layoff warning notices to more than 11,000 employees although a spokesman says the company expects job losses to be closer to 4,400. The notices went out to mechanics and ground workers whose jobs will be affected as American goes through a bankruptcy restructuring.
Fewer Seats and Higher Fares Help Airline Earnings Take Off
Delta, US Airways and AMR, the parent of American Airlines, all posted higher-than-expected earnings for the peak summer travel season. Airlines have pushed fares up by limiting the number of seats for sale, and have also seen growing international and corporate travel.
American 3Q Revenue Per Seat Mile Rises by 10.8%
American Airlines third-quarter revenue per seat mile is likely to see a double-digit increase from a year earlier, as the largest U.S. airline benefits from what appears to be a rebound in travel spending.
U.S. Airlines Got Added Lift in August
American Airlines and Delta Air Lines both reported traffic increases for August, while Continental Airlines will recall 132 furloughed pilots, further indicating that air travel is on the rebound.
Earnings Preview: United, AirTran Set to Improve
United Airlines parent UAL Corp. and AirTran Airways will release their fourth-quarter earnings Wednesday, and both are expected to post improved results, helped by lower jet fuel costs and slower declines in demand.
Companies Most Likely to Default in 2010
The number of companies in danger of defaulting on their credit obligations will remain high in 2010. And a disproportionate number of them could come from the U.S.
