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A federal judge has limited the damages that can be awarded to financial firm Cantor Fitzgerald as part of its lawsuit against American Airlines stemming from the Sept. 11 attacks, according to court documents released Wednesday.
Cantor Fitzgerald was housed on the top five floors of the first of the twin towers to be struck, in this case by American Airlines Flight 11 after it was hijacked in 2001. The company lost 658 of nearly 1,000 local employees in the attack. Get the full story »
American Airlines parent AMR Corp. posted a smaller-than-expected quarterly loss on a 10.3 percent increase in revenue as the company aimed to control fuel and labor costs.
AMR is the second major U.S. airline to post fourth-quarter results. Delta Air Lines on Tuesday posted a lower-than-expected quarterly profit. Get the full story »
Flight attendants at United Airlines and Continental are represented by separate unions, but the union at United filed papers Tuesday that could start the process of combining them as parent company United Continental Holdings Inc. combines the two airlines into one. Get the full story »
American Airlines, which is battling third-party ticket sellers over distribution costs and methods, Tuesday said it has reached a deal with Priceline.com to use American’s direct connect technology to access fares.
American, a unit of AMR Corp, said Priceline will begin issuing its tickets through the link in the near future. The companies did not disclose terms of the deal. Get the full story »
After one of the worst economic slumps in airline industry history, the nation’s eight largest airlines are expected to report a combined $3.95 billion in profit from $122.2 billion in revenue in 2010, according to an industry analyst.
If the projections prove true, it would mean that the airlines collected the highest annual profits in more than 10 years and the second-highest annual revenue ever, said Robert Herbst, an industry consultant and founder of AirlineFinancials.com.
Herbst, who was a commercial airline pilot for 35 years, expects his projections to be confirmed over the next two weeks, when the nation’s airlines release their financial reports for the last three months of the year. Financial reports for the third quarter of 2010 showed rising profits for the airlines.
Airbus looks set to leapfrog Boeing and score a surprise last-minute win on orders when it unveils 2010 commercial results next week, industry sources said on Friday. Get the full story »
The age-old ritual of the passenger bump is getting a high-tech makeover at Delta Air Lines Inc.
The overhaul could dial down the drama for consumers at departure gates around the U.S. at a time when airplanes are flying fuller than ever. In addition, it could save Delta money as regulators consider increasing the amount that airlines must pay passengers who get bumped involuntarily from overbooked flights. Get the full story »
The were no airplanes stuck on the ground for more than three hours in November — the second straight month airlines avoided long delays, the government said Tuesday.
That’s little comfort to travelers stranded by huge snow storms that grounded thousands of flights in December. The Department of Transportation won’t report those statistics until next month. Get the full story »
Shares of American Airlines parent AMR Corp. dropped more than 3 percent on Tuesday after UBS downgraded the carrier to “neutral” from “buy,” saying the company’s efforts to cut distribution costs with online travel agencies could hurt profits. Get the full story »
American Airlines and Japan Airlines plan to launch a new joint venture for trans-Pacific flying this spring, coordinating schedules to make it easier for travelers to catch international flights in Chicago, Dallas and Los Angeles.
The moves underscore Chicago’s importance as a gateway for travel to northern Asia and are intended to boost passenger loads for JAL’s flights as the carriers begin to divvy up costs and share revenues on trans-Pacific routes, executives said. Get the full story »
By Jon Hilkevitch | A major credit rating firm delivered a stern warning Monday regarding the mounting risks that Chicago is taking by going deeper into debt in an attempt to build more runways at O’Hare International Airport without securing financial support from the airlines.
Moody’s Investors Service downgraded to a “negative” outlook from “stable” some of the revenue bonds that the Chicago Department of Aviation has issued to help pay for the $15 billion O’Hare Modernization Program and related projects.
Moody’s cited concern about the city’s latest gambit to postpone repayment of all interest on some construction bonds until at least 2018, resulting in much larger payments over the long run. The airlines and their customers would eventually be stuck paying for the increased borrowing costs through higher landing fees and higher airfares. Get the full story »
American Airlines is suing Sabre to stop the company from downplaying American flights in displays that it provides to travel agents. Get the full story »
December snowstorms that crippled air travel in Europe and along the Atlantic seaboard in the U.S. cost the parent company of United Airlines $25 million in consolidated passenger revenue, and will reduce fourth-quarter earnings by $10 million, the carrier said Friday.
Continental Airlines, which along with United is a subsidiary of United Continental Holdings Inc., was hit hard by the Boxing Day blizzards that brought operations to a halt at its hub at Newark Liberty International Airport and other greater New York area airports. More than 5,000 flights were canceled over a three-day stretch, stranding at least 750,000 travelers. Get the full story »
Passengers board a Southwest Airlines jet in Burbank, Calif. (AP Photo/Paul Sakuma)
Southwest Airlines is preparing a $100 million reboot of its Rapid Rewards frequent-flier program that executives describe as the biggest product launch in the carrier’s 40-year history.
Effective March 1, the low-cost carrier plans to unveil a more complicated point system to replace its current program of awarding a free trip to passengers who log 16 flights over a 24-month stretch.
It is unprecedented and risky for a major airline to completely remake its loyalty program from scratch, analysts said. Get the full story »
American Airlines sparred with third-party ticket sellers on Wednesday in an ongoing battle over distribution costs and methods as one key provider of airfare data vowed to stop offering the airline’s flight information.
Privately held Sabre Holdings Corp operates a global distribution system that provides information on airfares to travel agencies like Travelocity. The company said it would end its distribution deal with American in August — a month before the end of its contract.
The company said it would discontinue price discounts on American Airlines tickets that have stimulated sales. The airline is also at odds with Chicago-based online travel agency Orbitz Worldwide and last month stopped selling tickets on Orbitz. Get the full story »
