United Grounds Nearly 100 Jets Over Safety Issue
United Grounds Nearly 100 Jets Over Safety Issue
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.
A scant few U.S. carriers took home honors from this year's "Best of Business Travel" awards from Business Traveler magazine. The apparent malaise affecting U.S. airlines may go beyond the current economic downturn to something more fundamental.
United Airlines and Continental Airlines reported healthy third-quarter earnings thanks to higher ticket prices and stronger demand for air travel. United reported earnings of $2.12 per share, excluding some items, Bloomberg News said. Continental%u2019s earnings were $2.24 a share.
Delta, US Airways and AMR, the parent of American Airlines, all posted higher-than-expected earnings for the peak summer travel season.
Considering how often airline industry executives complain about how hard it is to run a profitable carrier, one might expect their efforts could go unrewarded -- at least monetarily. Not so at the new United Continental Holdings, where big post-merger raises are coming for top management.
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.
Don't believe the fairy tales United and Continental are spinning about their proposed merger being beneficial to travelers and carriers alike: Beyond the deal to bring Southwest to Newark Airport that they cut placate the antitrust watchdogs, this merger is all bad news.
Shareholders of United%u2019s parent company UAL Corp (UAUA). and Continental Airlines (CAL) will vote today on a merger deal that would create the world%u2019s biggest airline. Results of the votes are expected later today, The Associated Press reported.
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.
The Justice Department said it has no further antitrust concerns about a merger between United Airlines and Continental Airlines, clearing a major hurdle for the union.
It's every business traveler's dream never to fly coach again. Nicholas Kralev's On the Fly seminar promises to make that dream a reality. In four short hours, he says he'll teach attendees how to maximize the power of their frequent flyer miles to fly in luxury on a coach-class budget.
UAL Corp., the parent of United Airlines, reported sharply higher earnings in the second quarter of $273 million, or $1.29 a share. Quarterly revenue rose 28.4% to $5.16 billion from $4 billion.
Survey: Consumers Happier with Airlines Despite Fees, Recession
While the world's airlines now expect a $2.5 billion profit in 2010, reversing earlier forecasts for a loss, investors should take the news with a grain of salt.
The airline industry is so unprofitable that competitors try to outdo each other in giving passengers less while charging more, and mergers are only creating bigger, less service-oriented carriers.
The United-Continental megamerger raises many serious questions, not the least of which is how air passengers will be affected. The answer is simple: For the average flier, the combination will create pretty much nothing but more pain, in terms of both costs and inconvenience.
Worried that the merger of Continental and United Airlines will mean higher fares? That's not part of the plan, said Continental CEO Jeff Smisek. The post-merger airline is expected to add $1 billion or so to the bottom line over three years, but it plans to get there mostly by cutting costs.
Mergers, near-mergers, paralyzing winter storms, volcanic ash and new rules about the treatment of passengers could all add up to a difficult second quarter for the U.S. aviation industry. As the industry awaits Continental and United Airlines merger news Monday, insiders wonder what's next.
Since merger talks between United Airlines and US Airways have stopped, will United turn to Continental instead?
A report that United Airlines and U.S. Airways were in merger talks set off a flurry of trading. Just the hint of more consolidation in the overcrowded airline industry, with its high operations costs and notoriously low profit margins, was enough for traders to pounce at the opportunity to get ahead of a move they hope will lead to higher ticket prices and lower overall operating costs industrywide.
US Airways and United Airlines are discussing a possible merger, according to The New York Times's DealBook. Investors are flying high, driving up both airlines' shares. But will complicated pilot contracts create turbulence?
Continental is joining most other airlines in eliminating its free meals on shorter flights. Now, along with your turkey sandwich, you could be paying extra for baggage, early boarding, more legroom, and even a pillow and blanket.
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United Airlines parent UAL Corp. and AirTran Holdings 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.
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