April 20, 1999 |
A federal judge granted the union representing American Airlines pilots 10 more days to pay $10 million toward damages for the airline caused by a work slowdown. The Allied Pilots Assn. said U.S. District Judge Joe Kendall in Dallas granted a stay until April 28 for the deposit on total damages of $45.5 million--more than the union's assets of about $38 million.
January 23, 1999 |
United Airlines and Delta Air Lines, two of the nation's biggest carriers that dominate domestic service at Los Angeles International Airport, have taken steps to ensure they won't get burned by passengers stricken with sudden bouts of year 2000 bug jitters. To avoid taking potential losses on empty seats aboard flights between Dec. 16 and Jan. 10, both carriers have imposed unusual restrictions on fares to several popular vacation spots.
September 28, 1998 |
Philippine Airlines' management and largest union said Monday they reached a breakthrough agreement on a management-proposed plan to revive the airline, five days after the airline's closure, a labor leader said. Details would not be released until given to union members.
September 25, 1998 |
As Philippine Airlines Inc. began winding up its business Thursday, U.S. authorities seized one of its planes at Los Angeles International Airport to pay off the bankrupt carrier's debt, a PAL official said Thursday. The Boeing 747-400 jumbo jet was the last PAL plane to leave Manila before the 57-year-old airline shut down at midnight on Wednesday. It had been scheduled to return to Manila today. PAL Vice President Manolo Aquino said a U.S.
July 31, 1998 |
Short air trips are substantially more expensive than before airline deregulation in cases where the airline doesn't have competition from a low-fare competitor, according to a government analysis released Thursday. While 20 years of deregulation had been positive overall, not all regions benefited, and by some measures, competition has declined recently, the Department of Transportation study said.
August 8, 1996 |
ValuJet Inc. said Wednesday that it expects to resume operations in three weeks and fly only five routes, a small fraction of the 31 cities served before federal regulators grounded the low-fare carrier. It also reported a 41% drop in second-quarter profit before a $19.6-million charge tied to the deadly crash in May of one of its jets and the subsequent shutdown by the Federal Aviation Administration. With the charge, the Atlanta-based airline had a bottom-line loss of $9.
July 18, 1996 |
The explosion and crash of a Trans World Airlines jumbo jet Wednesday night came amid a strong effort by the pioneering airline to emerge from a painful era of huge financial losses and corporate strife. The crash, in fact, overshadowed what was supposed to have been a triumphant day for the St. Louis-based airline. Earlier Wednesday, TWA announced that its second-quarter profit had risen sharply from a year earlier. The increase in earnings was only the latest chapter in TWA's comeback.
June 20, 1996 |
With two aging DC-9 jetliners and a dead aim on becoming the WalMart of the airline industry, ValuJet took the nation by storm in 1993 and soon gained recognition as the fastest-growing, most profitable airline in the history of deregulation. ValuJet handed passengers peanuts rather than Salisbury steak and a plastic-coated number tag instead of a ticket--all part of a low-cost strategy in which even its chief executive worked at a $100 desk purchased at Home Depot.
December 11, 1994 |
How rapid is change in business today? A reported comment questioning whether the airlines--one of the leading industries of the 20th Century--could ever really be a good, substantial business caused airline stocks to sink last week. Noted investor Warren Buffett later denied he made such a comment, but the point is that Wall Street didn't need to check. Professional investors agreed with the sentiment that the airlines had become a low-profit, commodity industry.