Category: Airlines
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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…
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NTSB chastises Boeing for media statements on Alaska Airlines probe (NYSE:BA)
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Wirestock/iStock Editorial via Getty Images boeing (NYSE: B.S) has faced another hurdle in the ongoing investigation into the blown door seal of Alaska Airlines Flight 1282, as the National Transportation Safety Board has imposed sanctions on the plane’s maker over statements it made at a recent news conference. National Transportation…
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US says seven airlines eligible to apply for new daily Washington flights By Reuters
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Written by David Shepardson WASHINGTON (Reuters) – Seven major airlines are eligible to apply for five new daily round-trip flights from Washington’s Reagan National Airport, the U.S. Department of Transportation said on Monday. On May 16, President Joe Biden signed legislation creating new flights at the busy airport in Arlington,…
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Alaska Airlines, flight attendants reach tentative deal By Reuters
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(Reuters) – A union representing Alaska Airlines flight attendants said on Friday it had reached a tentative agreement for a standard contract with the carrier. Details of the deal will be reviewed by union leadership, followed by a vote to ratify members, the flight attendant assistant said. “With our joint…
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American Airlines, union fail to reach deal on new contract By Reuters
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(Reuters) – A union representing American Airlines Group flight attendants (NASDAQ: ) said on Thursday that the latest round of talks with the carrier did not lead to an agreement this week. The Association of Professional Flight Attendants (APFA), which represents about 28,000 flight attendants at American Airlines, said it…
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Canada’s WestJet Airlines says union rescinds strike notice By Reuters
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(Reuters) – Canadian airline WestJet Airlines said on Thursday it was working to resume normal operations after the union representing its maintenance engineers lifted a strike notice, with both sides agreeing to return to the negotiating table. WestJet, which is backed by Onex Corp and competes with Air Canada, is…
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Two US airlines resume Israel flights
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On Friday, the American airline Delta Air Lines will resume its flights to and from Israel for the first time since the outbreak of war last October. The airline will operate a daily direct flight from New York’s JFK Airport to Tel Aviv. Two days later, United Airlines will resume…
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American Airlines would consider new JetBlue venture if it wins appeal By Reuters
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Written by David Shepardson WASHINGTON (Reuters) – American Airlines (NASDAQ:) told an appeals court on Monday that it would consider a new arrangement with JetBlue Airways (NASDAQ:) if it wins a ruling overturning a May 2023 decision requiring it to end the alliance. US District Judge Leo Sorokin ruled in…
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Dow closes lower on rising yields, plunge in American Airlines By Investing.com
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Investing.com — The Dow Jones closed sharply lower on Wednesday, driven by higher Treasury yields and weaker industries as airline stocks fell sharply on concerns about demand after American Airlines Inc. cut its second-quarter earnings guidance. At 16:00 EDT (20:00 GMT), it was down 411 points or 1.1%, down 0.8%,…
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Singapore Airlines flight hits severe turbulence, one passenger dead, dozens injured By Reuters
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Written by Chayut Situboonsarng and Pano Wongcha Om BANGKOK (Reuters) – One passenger died of a suspected heart attack and 30 others were injured after a Singapore Airlines plane ran into severe turbulence on Tuesday, flinging passengers and crew around the cabin and forcing the plane to land in Bangkok.…
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Global Crossing Airlines reports strong revenue growth By Investing.com
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Global Crossing Airlines (JET:NASDAQ) has announced a significant uptick in its financial performance for the first quarter of 2024, with a 67% increase in revenue to $53.8 million and a 16-fold rise in EBITDA year-over-year. Despite this growth, the company reported a net loss of $6.3 million and ended the…