U.S. Secretary of State Madeleine Albright and Turkish Foreign Minister Ismail Cem signed an open-skies agreement in New York that will deregulate passenger airline markets between the two countries during a three-year transition period. U.S. and Turkish airlines get unrestricted rights to fly directly between the two countries, and from third countries on through routes to either the U.S. or Turkey, although the third-country rights will be limited during the transition phase.
Austrian Airlines' shareholders approved a resolution to distribute a 7% dividend for the 1999 business year of 0.51 euros per share, unchanged from 1998. Another resolution of the shareholders' meeting authorized the Austrian Airlines' managing board to redeem 10% of its shares within a period of 18 months from the passing of the resolution. "This authorization is a precaution in case a redemption of shares would support a future advantageous situation both for shareholders and the corporation," the airline said.
New York-based Lehman Brothers, in a recent research report, observed that $2 billion in aircraft securitizations were issued for the year to date and at least $2 billion more are expected by yearend. But the type of securitization is critical, the firm says, and special-purpose leasing companies are viewed as better for investors. The report identified the suitability of aircraft as leasing assets as the primary factor determining the success of aircraft securitizations (Aircraft ABS).
The Ministry of Civil Aviation has revoked the operating certificate issued to Modiluft last December for the relaunch of the carrier under a different name. The order, which came from the prime minister's office, indicates that Modiluft has two pending court cases -- civil suits by its creditors. The suits filed in 1997 and 1998 were postponed each time they came up for hearing. An official at the ministry, Vikram Singh, told The DAILY that the company has to see itself through the case before resuming business.
US Airways added its third European destination from its Charlotte hub yesterday with the inauguration of nonstop service to Frankfurt with Boeing 767s. The airline also expanded its new Airbus A330-300 service yesterday between Philadelphia and Frankfurt. Additional A330 service from Philadelphia includes daily service to Paris that began May 4 and upcoming daily Philadelphia-London Gatwick service beginning June 11 and Philadelphia-Rome July 2. A new route linking Philadelphia and Manchester, England, begins May 25 with 767s.
Great Lakes Aviation reported a 5.9% increase in operating revenues of $31.6 million for the first quarter ended March 31. Operating income was $902,000. Pilot training costs and higher fuel prices impacted operating results, said CEO Douglas Voss. Great Lakes suffered a net loss of $1.2 million or 14-cents per share. Available seat miles for the quarter dipped 5.5% to 128 million as revenue passenger miles climbed 1.3% to 59 million. Yield per RPM grew 7.6% and revenue per ASM gained 12%. Operating costs per ASM climbed 9.4%
The Qualiflyer Group implemented the Sabre Alliance Manager Partner Displays feature yesterday to increase its alliance and frequent flyer brand recognition.
Eclipse Aviation named Albuquerque its new corporate headquarters, where it will manufacture the Eclipse family of small aircraft. The company expects to employ 2,000 people by 2007 and begin commercial deliveries in 2003.
Delta this week launched daily nonstop New York Kennedy-Venice service with Boeing 767-300ER aircraft. Delta said it is the only carrier to offer daily nonstop service from the U.S. to Venice and the Veneto region of Italy. The airline offers five U.S.-Italy flights daily.
US Airways wants to add Caribbean service, beginning Nov. 5. The carrier plans daily service to Nassau from New York LaGuardia using Boeing 737-300 aircraft. It wants to introduce nonstop service in the Pittsburgh-Cancun market with a weekly roundtrip on Saturdays with a 737-300 and upgrade Philadelphia-Cancun service to daily flights. US Airways proposes daily nonstops to Aruba and Santo Domingo, Dominican Republic, from Philadelphia, with Airbus A320 aircraft. (Dockets OST-00-7339, 7338, 7340, 7341)
FAA plans to fine United $72,000 for allegedly offering a "damaged, unmarked and undeclared oxygen generator to Federal Express for transportation by air from San Francisco International Airport to a Texas firm." FAA said the alleged violation occurred last July, "when United shipped the four-pound unexpended oxygen generator from a United stores unit" aboard a FedEx cargo aircraft. Aviall employees in Dallas discovered the oxygen generator and notified the FAA, the agency said.
Worldwide global Internet users spent an average of 7.6 hours online in March, up from 7.2 average hours per month in January, according to Media Metrix.The most time was spent by Internet users from the U.S. and Canada, with a combined average of nearly 13 hours per visitor per month, while users in Europe logged on just over five hours on average in March.
In line with its aim to enhance safety, Singapore Airlines has introduced new measures for carrying dangerous cargo, like toxic chemicals, at all 93 stations it serves. Staff who packed the cargo have to sign a document and give full details of the goods to be carried. The ground staff who load cargo have to make a declaration that they have checked the cargo in accordance with IATA regulations. These documents have to be handed in personally by the staff concerned to the commander of the aircraft before departure.
Airport and Airway Trust Fund -- Income Statement October 1, 1999 - March 31, 2000 RECEIPTS (Revenues) March 2000 Revenues: Excise Taxes (Transferred from General Fund): Liquid Fuel other than Gas 72,422,000.00 Transportation by Air, Seats, Berths, etc. 448,836,000.00 Use of International Travel Facilities 118,254,000.00
U.S. Major Carriers Pacific Share of Service Fourth Quarter 1999 Total Revenue Departures American 914 Continental 368 Delta 732 Northwest 5,885 United 4,802 Total 12,701 Average Number of
Boeing and its UAW Local 148 in Long Beach, Calif., and Local 1482 in Melbourne, Ark., have ratified a new four-year labor agreement. The contract will be retroactive from May 1 and will run until April 30, 2004. The deal gives Long Beach workers a $2,500 accelerated wage payment, a 3% wage increase in the first year, a 3% lump sum payment in the second, 3% increase in the third and 4% in the fourth. It also removes a cap on cost-of-living adjustment payments and restored quarterly payments for the full amount generated by the COLA formula.
Prominent businessman and managing director of two airlines in Cambodia, Udom Tantiprasongchai, has applied to the Ministry of Transport in Yangon, Myanmar, to acquire 51% of Myanmar International Airways (MIA). Expecting success, Udom plans to lease an Airbus A320 and use his three Lockheed L-1011s to expand services to Bangkok, Singapore and Hong Kong. Apart from these three routes, MIA operates to Phnom Penh, Vientiane, Hanoi, Ho Chi Minh City, Jakarta and Phuket. The Myanmar government has not received any other bid for MAI.
The Philippine government ordered its Ministry of Transportation and Communications (MoTC) to resolve the air feud with Taiwan. MoTC Secretary Vicente Rivera was given the responsibility of creating a new bilateral within two months. Civil Aeronautics Board (CAB) Executive Director Guia Martinez told The DAILY that before this is done, Taiwan must agree to return to the negotiating table. "We sincerely want to end this problem, and we are willing to discuss," Martinez said.
Air Canada said yesterday it will appoint a company ombudsman to oversee customer interests within the company. The ombudsman will become Air Canada's liaison with the federal Airlines Complaint Commissioner and the Canadian Transportation Agency charged with administering transportation legislation and government policies. Transport Minister David Collenette said yesterday that the government needs someone with statutory authority and "real power" to protect consumers.
Airport and Airway Trust Fund -- Balance Sheet As of March 31, 2000 ASSETS March 2000 Undisbursed Balances: Available for Investment 231.34 TOTAL UNDISBURSED BALANCE (Cash in Account) Receivables: Interest Receivables 180,564,067.69 TOTAL RECEIVABLES Investments:
Northwest Airlink will begin regional jet service between Memphis and Springfield/Branson, Mo., on July 17. Initially, the carrier will offer two daily flights with Canadair Regional Jets, and on July 24 it will operate all flights with CRJs. Service between Memphis and Springfield currently operates with 33-seat Saab 340 turboprops.
FedEx Tuesday took delivery of the first of 89 MD-10s despite protests by its pilots union of a common type rating with the MD-11 tentatively granted by the FAA. The MD-10 is a DC-10 with Boeing's Advanced Common Flight deck and several other modifications, including a thrust reverser system that meets standards updated since the DC-10's certification.
