Jeffrey's Feed
Nov 5, 2015

United Airlines CEO to return in early 2016 after heart attack

By Jeffrey Dastin

(Reuters) – United Continental Holdings Inc (UAL.N: Quote, Profile, Research, Stock Buzz) Chief Executive Oscar Munoz will return to work in the first quarter of 2016, he said Thursday, three weeks after suffering a heart attack.

The news ends uncertainty about who will run United, the second-largest U.S. airline by capacity. The company had earlier appointed General Counsel Brett Hart as acting CEO and said its board had been preparing for “all potential outcomes” resulting from Munoz’s hospitalization on Oct. 15.

Nov 5, 2015

Expedia to buy HomeAway for $3.9 billion in cash, stock

By Jeffrey Dastin and Ankit Ajmera

(Reuters) – Expedia Inc on Wednesday said it agreed to buy vacation rental site HomeAway Inc for about $3.9 billion in cash and stock, in a move that could ramp up competition with apartment-sharing startup Airbnb.

Expedia, the world’s largest online travel agency by bookings, said it expects the deal to close in the first quarter of 2016 subject to regulatory approval. It expects the takeover will hurt its earnings per share next year but boost results in the long run.

Nov 3, 2015

Delta Air Lines says capacity cuts muted October unit revenue drop

Nov 3 (Reuters) – Delta Air Lines Inc on Tuesday
said passenger unit revenue fell slightly in October, its
smallest decline in months, as the company shrank flight
capacity to match lower demand.

Delta said passenger unit revenue, which measures sales
relative to flight capacity, fell just 1 percent in October,
compared with a third-quarter drop of 4.9 percent.

Oct 29, 2015

Expedia third-quarter profit beats estimates, sees Orbitz deal boost

By Jeffrey Dastin

(Reuters) – Expedia Inc on Thursday posted a rise in third-quarter profit that beat analysts’ estimates and said it now expects its takeover of Orbitz Worldwide Inc to yield greater benefits than previously anticipated.

Expedia, the world’s largest online travel services company by bookings, earned $283 million in the quarter, up 10 percent from a year earlier. On an adjusted basis, it earned $276 million, or $2.07 per share, compared to the average analyst estimate of $265 million, or $2.02 per share, according to Thomson Reuters I/B/E/S.

Oct 29, 2015

Expedia Q3 profit beats estimates, sees Orbitz deal boost

Oct 29 (Reuters) – Expedia Inc on Thursday posted a
rise in third-quarter profit that beat analysts’ estimates and
said it now expects its takeover of Orbitz Worldwide Inc
to yield greater benefits than previously anticipated.

Expedia, the world’s largest online travel services company
by bookings, earned $283 million in the quarter, up 10 percent
from a year earlier. On an adjusted basis, it earned $276
million, or $2.07 per share, compared to the average analyst
estimate of $265 million, or $2.02 per share, according to
Thomson Reuters I/B/E/S.

Oct 29, 2015

Virgin America tops third-quarter estimates, expects unit rev decline

By Jeffrey Dastin

(Reuters) – Virgin America Inc (VA.O: Quote, Profile, Research, Stock Buzz) on Thursday said lower fuel costs helped its profit jump in the third quarter, but forecast that the money it makes per mile would fall in the fourth quarter as it expands flight capacity amid intense competition.

The Burlingame, California-based airline earned $71.9 million in the quarter, up 73 percent from a year earlier. Excluding special items, it earned $73 million, or $1.64 per share, topping the average analyst estimate of $67 million, or $1.56 per share, according to Thomson Reuters I/B/E/S.

Oct 29, 2015

Virgin America tops 3rd-qtr estimates, expects unit rev decline

Oct 29 (Reuters) – Virgin America Inc on Thursday
said lower fuel costs helped its profit jump in the third
quarter, but forecast that the money it makes per mile would
fall in the fourth quarter as it expands flight capacity amid
intense competition.

The Burlingame, California-based airline earned $71.9
million in the quarter, up 73 percent from a year earlier.
Excluding special items, it earned $73 million, or $1.64 per
share, topping the average analyst estimate of $67 million, or
$1.56 per share, according to Thomson Reuters I/B/E/S.

Oct 27, 2015

JetBlue Airways 3rd-qtr profit soars, beats estimates

By Jeffrey Dastin

(Reuters) – JetBlue Airways Corp (JBLU.O: Quote, Profile, Research, Stock Buzz) said on Tuesday its third-quarter profit more than doubled from a year earlier, topping estimates as cheaper fuel and revenue from new checked bag fees and first-class seats added to the bottom line.

The U.S. budget carrier earned $198 million in the quarter, up from $79 million a year ago. It earned 58 cents per share, compared with the average analyst estimate of 57 cents, according to Thomson Reuters I/B/E/S.

Oct 23, 2015

United Air reaches tentative deal with wage hike for maintenance workers

By Jeffrey Dastin

(Reuters) – United Airlines (UAL.N: Quote, Profile, Research, Stock Buzz) said on Friday it reached a tentative deal with the union representing its maintenance workers, paving the way for a wage hike and the first contract to cover technicians from both United and Continental since the airlines merged in 2010.

The deal provides for a 25 percent raise for United’s highest-earning technicians, to $46.15 per hour, according to an email the company sent employees and seen by Reuters. It also includes an offer for a $100,000 buyout for at least some workers and furlough protection.

Oct 23, 2015

American Air third-quarter profit tops estimates; buying back more shares

By Jeffrey Dastin

(Reuters) – American Airlines Group Inc (AAL.O: Quote, Profile, Research, Stock Buzz), the world’s largest carrier, said on Friday its third-quarter profit jumped, beating analysts’ expectations.

American reported net income of $1.7 billion in the quarter, up 80 percent from a year ago as the price of oil has plummeted. It earned $1.9 billion, excluding charges, or $2.77 per diluted share. On that basis, the average analyst estimate was $2.72 per share, according to Thomson Reuters I/B/E/S.