Michael Boyd, president of The Boyd Group, told CNBC’s “Squawk Box” that Delta Air Lines will be a “viable carrier” as it emerges from bankruptcy. The company emerged from bankruptcy Monday after a 19-month reorganization. It rejected a hostile takeover by US Airways Group. On Thursday, Delta’s stock will trade under its old symbol, DAL, on the New York Stock Exchange.
US Airways Group said its first-quarter net profit rose about 1.5%, despite severe winter weather, as the airline flew fuller planes and charged higher ticket prices.
Robert Toomey, chief equity strategist at E.K. Riley Advisors, told CNBC’s “Squawk Box” that he’s not concerned about Boeing’s low profit guidance.The aircraft builder issued profit guidance for 2007 and 2008 that’s below analysts’ consensus estimate after reporting first quarter profit and revenue gains that beat market expectations. “I think Boeing is being conservative,” Toomey said Wednesday. “I think they’re keeping their powder dry. I think (Boeing has) a number of hurdles this year, the rollout of the 787 being a big hurdle. I don’t read that much into it.”
US Airways is planning to announce an order for between 20 and 30 Boeing 787s this week in a deal that could be worth $5.9 billion at list prices, according to an unsourced report on The Times of London’s Web site.
Pack a good book, charge up your Ipod and get ready for delays and cancellations. As of 9 a.m. on Sunday, 300 flights at New York City's three major airports (La Guardia, Kennedy and Newark) had been cancelled with more likely to follow on Monday.
The board of directors that will govern Delta Air Lines after it exits bankruptcy in two weeks faces a big decision right out of the gate -- who to pick to be the company's next chief executive officer.
US Airways Group said on Sunday it expects to post a "slight profit" for the first quarter even as revenue was hurt and costs were increased due to weather and reservation systems problems during the period.
Airline hassles are on the rise: More passengers found themselves bumped, their flights delayed or their bags lost last year than in 2005, a study found. The annual review, does not include recent weather-related flight delays.
JetBlue Airways took a high-profile black eye on Valentine's Day, when icy conditions led to its passengers being trapped on the tarmac for up to 11 hours. With the sudden return of wintry weather, the discounter played it safe -- by canceling 400 of 550 scheduled flights on Friday. Did the move signify panic -- and should investors be concerned? A master of damage control and an aviation analyst weighed in, on "Power Lunch."
Thousands of weary travelers faced a third day waiting to reach their destinations Sunday as US Airways struggled to recover from the ice and snow storm that paralyzed airports in the Northeast.
Six weeks after its bid for Delta Air Lines collapsed, US Airways President Scott Kirby says the company's top priority in 2007 would be to settle its union labor contracts and finish combining operations with America West Airlines.
US Airways said it sent 20 extra workers to its Charlotte, North Carolina hub after a glitch in its self-service reservation system on Sunday forced thousands to wait in lines for up to three hours.
Doug Parker, 45, pleaded guilty Tuesday morning in Scottsdale City Court to one DUI charge, according to the court clerk's office.
U.S. Airways announced late Tuesday that its largest shareholder, PAR Investment Partners, has sold more half of its 13.5 million shares. PAR Investment cut its stake to 6.5 million shares, citing a need to diversify its portfolio.
There’s no question that the DUI arrest of US Airways Chief Executive Douglas Parker last month is making headlines in a way that probably wouldn’t have happened in decades past. CEO’s are no longer private citizens, and media scrutiny of corporate America has turned some of them into celebrities. Although the buck stops at the corner office, where....
a newspaper reported that Parker had a previous DUI conviction in 1991 when he worked for American Airlines in Dallas, and Parker admitted to two other alcohol-related incidents.
The incident occurred hours after Parker pulled US Airways' bid to acquire larger, bankrupt rival Delta Air Lines after Delta creditors rejected the bid.
Timing Is Everything: Or, as one of my favorite TV characters, Maxwell Smart, used to say: “Missed it by THAT MUCH!”. Earlier this week, I told the tale of how Equity Office Properties shareholders voted to approve a takeover bid by Blackstone Group - with the news breaking just seconds before an already-scheduled hit on that subject by reporter David Faber.
A judge approved a disclosure statement that will be sent to creditors along with a Delta Air Lines reorganization plan, a big step forward in the airline's effort to exit bankruptcy.
Lawyers for Delta Air Lines, the nation's third-largest carrier, said Friday in court papers that the company's creditors' committee has approved the terms of the $2.5 billion in financing that Delta has secured to emerge from bankruptcy protection.