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.
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Airlines' Merger in Holding Pattern as Judge Weighs Severance
A federal bankruptcy judge defers giving his blessing to the merger of US Airways and American Airlines, as he weighs outgoing American CEO Tom Horton's severance package.
American Airlines Parent Company AMR Loses $238 Million in 3Q
American Airlines parent company AMR lost $238 million in the third quarter on employee severance payouts and other costs related to its bankruptcy.
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.
American Airlines' Flight Out of Bankruptcy Gets Bumpier
American Airlines executives hoping to bring the deficit-riddled carrier out of bankruptcy want to trim about 13,000 jobs. They left their unions' counteroffer sitting on the tarmac. Will the two sides ever be able to meet in the middle?
5 Companies That Are Still Losing Money
The economy may be ugly for workers, but most companies are making money. In fact, many Wall Street darlings are checking in with record profits. Then again, most doesn't mean all. Here are five notable companies that are losing money this year -- and possibly beyond.
Airline Profits Forecast to Fall as Fares Keep Rising
The International Air Transport Association has cut its 2011 profit forecast for the industry in half, and fares are on the rise. The IATA downgraded its 2011 airline industry profit forecast to $4 billion -- 54% less than its March forecast and 78% less than the industry netted in 2010.
Another Icelandic Volcano, Another Threat to Airlines
Just over a year after the ash cloud from the Eyjafjallajokull volcano caused an expensive and chaotic shutdown of air travel across much of Europe, an different volcano in Iceland, Grimsvoetn, is erupting.
Airline Stocks Despite Travel Alert
Despite the State Department issuing a travel alert Sunday following the killing of infamous terrorist Osama Bin Laden, Wall Street analysts expect airline stocks to continue their upward ride.
The Latest Airline Up-Sell: Direct Flights
The next time you book a flight with a connection, keep your cellphone handy with the ringer as loud as it%u2019ll go %u2014 you could get a call for a cheap up-sell on a direct fare.
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.
Airlines Turn a Profit, but a Bumpy Ride Ahead
While the world's airlines now expect a $2.5 billion profit in 2010, reversing earlier forecasts for yet another losing year, investors should take the news with a grain of salt.
Continental and Southwest Back to Profitability
Continental Airlines and Southwest Airlines, the nation's largest discount carrier, posted fourth-quarter profits Thursday, helped by lower fuel costs and improved demand, but both cautioned that the sector faces more turbulence in 2010.
Earnings Preview: Southwest and Continental
Southwest and Continental report quarterly earnings Thursday with investors keen to hear if the outfits will be adding back some capacity in 2010, an indication that the worst of the industry's downturn may be behind it.
Fees and Fuel Costs Give AMR a Narrower Loss
American Airlines' parent company AMR Corp. posted a narrower fourth-quarter loss Wednesday, helped by lower fuel costs and increases in revenue from passenger fees, but results missed Wall Street's forecast.
JAL Declares Bankruptcy as Airline Industry Woes Continue
Japan Airlines Corp. today became the millionth or so carrier to seek protection from its creditors in the last few years in Japan's fourth biggest bankruptcy. The filing came after a 900 billion yen ($10 billion) turnaround plan after four government bailouts to revive Asia's most indebted carrier failed.
Japan Bails Out JAL; Would the U.S. Do the Same?
The federal government has bailed out one industry. Would it do the same for the airlines?
JAL: Next Huge Airline Bankruptcy?
A number of media, including the Nikkei business daily, are reporting that the Japanese government is considering taking its huge flagship carrier JAL into bankruptcy. The news follows recent proposals by both American and Delta over the last several weeks to put $1 billion into JAL.
Terrorist Attack Foiled in Detroit, but Still Presents Challenge to Airlines
On Christmas day, a Nigerian man tried to ignite some kind of explosive device as a Northwest Airlines flight from Amsterdam to Detroit began its landing (Northwest is now owned by Delta (DAL). This apparent terrorist act could mean more problems for airlines in 2010.
