Jeffrey's Feed
Mar 5, 2015

U.S. airline unions join campaign against Gulf carriers

By Jeffrey Dastin

(Reuters) – U.S. airline unions have added their voices to
their employers’ escalating campaign to persuade the United
States to alter commercial flying agreements with Qatar and the
United Arab Emirates amid allegations of unfair subsidies.

In a press conference with U.S. airline officials Thursday,
several union leaders repeated the airlines’ warning that U.S.
workers will lose their jobs if domestic airlines are pushed out
of key markets because of competition from three Gulf airlines.

Mar 4, 2015

United Airlines may look to hedge fuel two years out

March 4 (Reuters) – United Continental Holdings Inc
is looking to lock in its fuel costs with new hedges that could
last as long as two years, but first it would like to see oil
prices stabilize, Chief Financial Officer John Rainey said in an
interview.

U.S. airlines such as United have been burned after hedging
against rising oil prices only to see prices fall, resulting in
hundreds of millions of dollars owed to counterparties on the
winning side of the bets.

Mar 3, 2015

United Airlines expects to use its cash pile to buy aircraft this year

NEW YORK (Reuters) – United Airlines (UAL.N: Quote, Profile, Research, Stock Buzz) expects to dip into its cash pile to help fund the purchase of new aircraft this year and rely less on debt financing, reflecting the U.S. airline industry’s dramatic financial turnaround, the carrier’s Chief Financial Officer John Rainey said in an interview.

United, which had about $4.4 billion cash on hand at the end of last year, may use some of that to pay for about half of the cost of individual planes, while borrowing the rest, he said.

Feb 26, 2015

U.S. aviation giants split on Gulf carrier subsidy row

Feb 26 (Reuters) – A push by three U.S. airlines to curb
competition from Gulf state carriers has exposed divisions over
free trade with other powerful U.S. aviation players including
Boeing Co and FedEx Corp, potentially
complicating the airlines’ campaign for Obama administration
support.

Delta Air Lines Inc, United and American Airlines
have asked the White House to look into the financial statements
of competitors from Qatar and the United Arab Emirates, which
they accuse of receiving more than $40 billion in government
subsidies since 2004.

Feb 26, 2015

Boeing, FedEx battle back vs U.S. airlines on Gulf competition

By Jeffrey Dastin and Tim Hepher

(Reuters) – A push by three U.S. airlines to curb competition from Gulf state carriers has triggered a sharp response from other powerful U.S. aviation companies including Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz) and FedEx Corp (FDX.N: Quote, Profile, Research, Stock Buzz), potentially complicating the airlines’ campaign for Obama administration support.

Delta Air Lines Inc (DAL.N: Quote, Profile, Research, Stock Buzz), United and American Airlines have asked the White House to look into the financial statements of competitors from Qatar and the United Arab Emirates, which they accuse of receiving more than $40 billion in government subsidies since 2004.

Feb 23, 2015

American and Delta not interested in Skymark Airlines tie-up

By Jeffrey Dastin

(Reuters) – American Airlines Group Inc and Delta Air Lines Inc have no plans to rescue Japan’s bankrupt Skymark Airlines Inc, the two companies said separately on Monday following a media report on their alleged interest in the budget carrier.

“We have studied the current environment surrounding Skymark and have determined not to participate in that airline’s restructuring needs at this time,” American spokesman Josh Freed said in an email. “We are partnered with the premier airline in that region today, Japan Airlines.”

Feb 21, 2015

United Airlines probes relationship with former Port Authority head

Feb 20 (Reuters) – United Airlines has opened an
internal investigation into its relationship with the former
chairman of the Port Authority of New York and New Jersey,
following a government probe, according to its annual filing on
Friday.

Media reports have said the government is probing whether
United added direct flights from its Newark hub to an airport
near a home of former Port Authority of New York and New Jersey
Chairman David Samson in Columbia, South Carolina to curry favor
with the official.

Feb 19, 2015

Dubai airline Emirates rejects Delta apology over 9/11 comments

DUBAI/NEW YORK, Feb 19 (Reuters) – An increasingly bitter
trade row between U.S. and Gulf airlines deepened on Thursday
when Dubai’s Emirates rejected a Delta Air Lines apology
for remarks perceived as linking Gulf carriers with the Sept. 11
attacks on the United States in 2001.

Relations have deteriorated since a group of U.S. airlines
compiled a dossier claiming that major Gulf carriers had
received $40 billion in subsidies and urged the U.S. government
to renegotiate or scrap an Open Skies trade pact.

Feb 19, 2015

Priceline tops 4th-qtr estimates; revenue outlook below view

Feb 19 (Reuters) – Priceline Group Inc reported
quarterly profit that beat Wall Street expectations on Thursday
but forecast first-quarter revenue below estimates due largely
to foreign exchange volatility.

Priceline, the world’s largest online travel services
company by bookings, said fourth-quarter profit rose nearly 20
percent from the year-earlier period to about $452 million. It
earned $10.85 per non-GAAP diluted share, while analysts, on
average, estimated non-GAAP earnings per share of $10.10.

Feb 19, 2015

Priceline tops 4th-qtr expectations, warns of currency effects

Feb 19 (Reuters) – Priceline Group Inc reported
quarterly profit that beat Wall Street expectations on Thursday
but forecast first-quarter revenue below estimates due largely
to foreign exchange volatility.

Priceline, the travel booking website, said fourth-quarter
profit rose nearly 20 percent from the year-earlier period to
about $452 million. It earned $10.85 per non-GAAP diluted share.
Analysts, on average, estimated non-GAAP earnings per share of
$10.10.