The merger between Continental Airlines and United Airlines announced yesterday will, if consummated, create the world's largest airline by RPKs, serving 370 destinations in 59 countries with 692 mainline aircraft.
In what they described as "a merger of equals," Continental Airlines and United Airlines today announced the two companies will combine in an all-stock transaction in which Continental shareholders will receive 1.05 shares of United common stock for each CO share they own. United shareholders will own approximately 55% of the combined holding company, which will be named United Continental Holdings with United the name of the surviving airline. The transaction has a "combined value of over $8 billion," the companies said.
ANA may take another look at whether it should place an A380 order owing to looming competition from airlines that operate the aircraft through Japan, a senior executive said. Hitoshi Kawahara, ANA's director-international and regulatory affairs, said the carrier has become "more interested" in the A380 because rivals such as Singapore Airlines soon may be able to use it to pick up passengers in Japan and carry them to/from the US and other key markets.
China Southern Airlines reported first-quarter net income of CNY1.42 billion ($208.3 million), a more-than-sixfold increase over a CNY222.2 million profit in the year-ago quarter, on a 30.5% jump in revenue to CNY16.87 billion. It cited domestic market recovery as the key driver of the revenue improvement. Operating expenses climbed 20.5% to CNY16.51 billion.
Hainan Airlines posted first-quarter net income of CNY252.5 million ($37 million), a more-than-sevenfold increase over a CNY31.8 million profit in the year-ago period. Operating revenue rose 36.4% to CNY4.7 billion against a 30.9% lift in expenses to CNY3.5 billion. The Haikou-based carrier credited "domestic market recovery" and its effective "fleet expansion" for the positive performance.
Lufthansa announced yesterday that it will initiate scheduled flights aboard its first A380 on June 11 with thrice-weekly service between Frankfurt and Tokyo Narita.
El Al said yesterday that it is cancelling an order for four 777-200s placed two years ago. "Since the agreement with Boeing was signed in 2008 and the global crisis occurred in world markets, there have been substantial changes in the aviation sector," El Al CEO Eliezer Shkedi said, according to Reuters.
this week took delivery of its first A330-200, the first of 10 slated to join its fleet to replace 767s on flights between Hawaiiand the continental US. The aircraft is leased to the carrier through CITAerospace. HA will take delivery of two more leased A330-200s this year and begin taking delivery next year of seven of the type it has on firm order. The aircraft will seat 294 passengers in a two-class configuration.
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Japan Airlines announced that it will cut 45 routes by the end of September as part of a radical shakeup intended to return it to profitability and sustainability.
Transaero Airlines' board approved the acquisition of five 777-200s and nine 747-400s as part of its ongoing fleet development and modernization program.
Despite an estimated $25 million net negative impact from the massive earthquake that struck Chile in late February, LAN Airlines reported a first-quarter net profit of $88.3 million, up 35.8% from net income of $65 million in the year-ago period.
JetBlue Airways reported a first-quarter net loss of $1 million, down from a profit of $12 million in the year-ago period, and said it is "taking the right steps to return to sustained profitability."
representing ground staff signed a new labor agreement covering Jan. 1, 2009-Dec. 31, 2012. The accord calls for a salary increase of 0.6% for 2009, a wage freeze this year, a scaled increase for 2011 in relation to the company's EBIT performance in 2010 and a minimum 2% raise in 2012. It also establishes productivity measures at its airport handling and maintenance divisions. IB committed "not to segregate these units" until at least the end of 2010. The new contract affects some 14,750 employees, or nearly 70% of the total staff.
will provide Chinese airline Jade Cargo International with its Lido RouteManual solution until this summer. The electronic version, Lido eRouteManual, will be introduced at a later time, it said.
Delta Air Lines A330 en route from Paris Charles de Gaulle to Atlanta was diverted to Bangor " out of an abundance of caution" after a passenger made a bomb threat, according to the US Transportation Security Administration.
