Category: Airlines
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Southwest Airlines warns staff of ‘tough decisions’ ahead, Bloomberg reports By Reuters
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(Reuters) – Southwest Airlines Co warned its employees it will soon make tough decisions as part of a strategy to restore profits and face demands from activist investor Elliott Investment Management Inc, Bloomberg News reported on Saturday. The airline is considering making changes to its flight routes and schedules to…
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Southwest Airlines warns staff of ‘tough decisions’ ahead, Bloomberg reports By Reuters
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(Reuters) – Southwest Airlines Co warned its employees it will soon make tough decisions as part of a strategy to restore profits and face demands from activist investor Elliott Investment Management Inc, Bloomberg News reported on Saturday. The airline is considering making changes to its flight routes and schedules to…
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Fearing reprisals European airlines cancel Israel flights
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French national airline Air France has announced the cancellation of its flights to Israel until September 20, after initially announcing the cancellation of flights to Tel Aviv until September 19 following the explosions of communication devices in Lebanon. The Lufthansa Group, including Austrian Airlines, Swiss, Brussels Airlines and Eurowings, has…
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Down 97%, Is It Time to Buy Spirit Airlines Stock?
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Spirit Airlines (NYSE: SAVE) British Airways has taken its investors on a rollercoaster ride. Shares of the troubled airline have fallen 93% in the past five years. Over the same period, Standard & Poor’s 500 It could have more than doubled your money. As of the time of this writing,…
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Exclusive-Elliott now owns enough of Southwest Airlines to call special meeting
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By Svea Herbst Bayliss NEW YORK (Reuters) – Elliott Investment Management Inc now owns 10% of Southwest Airlines Co’s common stock, exceeding the threshold that allows the hedge fund to call a private meeting at the airline, a person familiar with the matter said. The news comes days before the…
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Elliott lays out its case for leadership change at Southwest Airlines By Reuters
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By Svea Herbst Bayliss NEW YORK (Reuters) – Elliott Investment Management, which now owns about 9.7 percent of Southwest Airlines Co (NYSE: )’s voting power, told investors the company needs new outside leadership for a “better future” but is also prepared to move forward with a planned proxy battle. In…
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Foreign airlines resume Tel Aviv flights after pre-emptive strike
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It was business as usual at Ben Gurion Airport today, with 60,900 passengers expected to pass through on 353 international flights arriving and departing. Yesterday, more than 50,000 passengers passed through the airport, despite Israeli airspace being closed for several hours in the morning due to the Israel Defense Forces’…
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Airlines fly over Afghanistan as Middle East becomes the greater risk By Reuters
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By Joanna Pluchinska and Lisa Barrington LONDON/SEOUL (Reuters) – Singapore Airlines, British Airways and Lufthansa have increased their flights over Afghanistan after years of largely avoiding it now that conflict in the Middle East has made it a relatively safe option. Most airlines stopped flying over Afghanistan, which lies on…
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Even when it calms down foreign airlines won’t return
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Fifteen foreign airlines have suspended flights to Israel over the past month, leaving passengers almost entirely dependent on Israeli carriers. El Al Israel Airlines Ltd. (level:Ilal), Israel (TASE: ISRG), and every dayBut Israelis were surprised to discover that the prices charged by Israeli airlines had increased compared to the corresponding…
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Activist Elliott seeks 10 board seats at Southwest Airlines (NYSE:LUV)
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Kevin Deitch/Getty Images News Update 9:05 PM: Elliott’s confirmation adds. Activist firm Elliott Investment Management is preparing to launch a proxy battle in Southwest Airlines (NYSE: LUV). The prominent activist fund plans to nominate 10 candidates for the position of director of the airline’s 15-person board, according to a statement…
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Southwest investor asked the board to dump its CEO over the airline’s struggles. Now it wants to oust the board.
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Elliott Management Inc. is planning to nominate a slate of candidates for Southwest Airlines Co.’s board of directors, adding to activist investor pressure for sweeping changes at the struggling airline, according to a person familiar with the matter. Elliott will nominate up to 10 directors and call a special investor…
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Alaska Airlines invests in fuel-efficient JetZero aircraft By Investing.com
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SEATTLE – Alaska Airlines has made a strategic investment in Jet Zero, a pioneer in developing an innovative mixed-wing aircraft that is expected to reduce fuel consumption by up to 50 percent. The investment, which also includes options for future aircraft orders, was announced today as part of the airline’s…
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GPS spoofers ‘hack time’ on commercial airlines, researchers say By Reuters
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By James Pearson LAS VEGAS (Reuters) – The recent surge in “GPS spoofing,” a form of digital attack that can send commercial passenger planes off course, has entered an intriguing new dimension: the ability to hack time, cybersecurity researchers say. According to an aviation consultancy, there has been a 400%…
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US FAA probes latest Southwest Airlines flight that posed safety issues By Reuters
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By David Shepardson The U.S. Federal Aviation Administration said Saturday it was investigating a Southwest Airlines plane that crashed after flying too low over Tampa Bay, Florida, the latest in a series of incidents that have raised safety questions. The Southwest Boeing 737 Max, which departed from Columbus, Ohio, on…
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United Airlines, American Airlines provide updates after global IT outage (NASDAQ:UAL)
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labsas/iStock Not published via Getty Images United AirlinesNASDAQ: UAL) said on Saturday that most of its technology systems were back up and running a day after a global IT outage, while American Airlines said itNASDAQ:AL) said its operations were fully back to normal. Wrong update from cybersecurity company Crowd Strike…
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United Airlines Q3 profit outlook disappoints amid industrywide discounting pressure By Reuters
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By Rajesh Kumar Singh CHICAGO (Reuters) – United Airlines Holdings Inc on Wednesday forecast lower-than-expected profit in the current quarter as the industry grapples with a surplus of seat capacity in the domestic market that has undermined airlines’ pricing power. The Chicago-based airline expects adjusted earnings of $2.75 to $3.25…
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Five Below, J.B. Hunt, Interactive Brokers, Spirit Airlines By Investing.com
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After Hours Stock Carriers: five below Shares of the company (Nasdaq:) fell 9% after the company announced that Joel Anderson is stepping down as president and CEO. The retailer also reported a 5% year-to-date decline in comparable sales and lowered its second-quarter outlook. Dollar General (NYSE:) traded lower in sympathy.…
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US airlines cancel over 1,300 flights due to Hurricane Beryl By Reuters
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(Reuters) – U.S. airlines canceled more than 1,300 flights and delayed more than 1,000 on Monday as Hurricane Beryl strengthened and made landfall in Texas. Flight tracking website FlightAware reported a total of 1,361 flights had been canceled and 1,014 flights delayed as of 9:06 a.m. ET. United Airlines topped…