AirlineSector

While Airlines Are Profiting Again, Fliers Are Suffering

Of all the industries that have achieved record profits recently, none have posted more remarkable results than the airline industry. For the first time in a decade, the industry is on a glide path to profitability -- but it's getting there by squeezing its customers.

The Top 10 Growth Industries for 2011

After the long downturn, the coming year will present an opportunity for many industries to rejuvenate themselves. Independent researcher IBISWorld sorted through the data on 711 U.S.-based industries to give its predictions of the 10 top performing industries for 2011.

Zagat Airline Survey Praises Southwest, Virgin America

Southwest Airlines (LUV) and Virgin America were among the winners in Zagat%u2019s latest frequent flier survey. Southwest was the top-rated in categories including "best check-in experience" and "top website", Zagat said in a statement. Virgin America was rated the best mid-sized carrier in both premium and economy class.

American Airlines May Pull Tickets From Orbitz

American Airlines (AMR) may yank its tickets from travel website Orbitz (OWW) in a dispute over how the website gets information on American ticket prices. American wants travel agencies to access ticket prices direct from American, rather than going through middlemen called global distribution systems, or GDS, The Associated Press reported.

Continental, United Close Merger Deal

Continental Airlines (CAL) and UAL Corp (UAUA), owner of United, closed their merger deal Friday, creating the world%u2019s largest air carrier, called United Airlines. The new holding company, United Continental Holdings, will begin trading today on the New York Stock Exchange, Reuters said.

Spirit Airlines Files for $300 Million IPO

Spirit Airlines filed plans for an IPO worth as much as $300 million. The airline, which offers low-cost travel to and from South Florida, the Caribbean and Latin America, would retain about half of the proceeds of the IPO and use most of the rest to pay down debt, The Wall Street Journal said.

Delta Air Lines to Cut Jobs, Planes at Regional Subsidiary

Delta Air Lines Inc (DAL) is cutting jobs and retiring planes at its Comair regional subsidiary. Comair is retiring most of its 50-seat jets in 2011 and 2012, Reuters reported, citing a Comair memo to staff. The memo did not give details on how many of the subsidiary%u2019s 2,600 workers will be cut.

Wildfire Smoke Delays Over 140 Flights Out of Moscow

Thick smoke from peat and forest fires delayed over 140 flights from Moscow airports as the city continues to battle the effects of a crushing heat wave. Visibility is below 700 meters at some airports, and was below 400 meters earlier, Bloomberg News reported. Carbon monoxide pollution is now 4.8 times the acceptable limit.

Ryanair Earnings Fall 24% on Impact of Icelandic Volcano

Ryanair Holdings Plc (RYAAY), Europe%u2019s largest discount airline, reported a 24 % decline in quarterly earnings on the impact of the Icelandic volcano that caused travel chaos in the spring. Net income for the quarter ended June 30 was 93.7 million euros ($122 million), compared with 123 million euros for the year-ago quarter, the company said in a statement. Operating revenue rose 16% year on year to 896.8 million euros.

Delta Reports Second Quarter Earnings of $467 Million

Delta Air Lines (DAL) reported second-quarter earnings of $467 million , or 55 cents a diluted share, including special items. The company posted a loss of $257 million in the second quarter of 2009 The earnings were driven by a 19% increase in passenger revenue, which rose to $7 billion, the company said in a statement. Cargo revenue advanced 22%.