Hints and tips:
...American, Delta and JetBlue all cited rising industry costs as driving their decision. The airline industry is confronting inflation, higher fuel prices and higher labour costs....
...of America....
...Delta Air Lines has trimmed its flight plans by 2 per cent to preserve operational reliability, while United Airlines’ head of operations said the company had “already done that” and was “ahead of the curve...
...Despite widespread customer dissatisfaction, the three major companies — United Airlines, American Airlines and Delta Air Lines — reported combined fourth-quarter net profit of $2.47bn on revenues of $39bn...
...In 2022, these funds raked in a net $10.9bn in North America, up from what had been a record $4.1bn the previous year, according to data from FactSet....
...US low-cost carrier JetBlue Airways emerged victorious in the fight to acquire Spirit Airlines as the companies’ boards announced a definitive merger agreement that would make their combined networks the...
...In the audience, a boy is riding a coin-operated truck, a model of the beaten-up Ford pick-up that helped cement Walton’s image as a frugal, quail-hunting man of the people even as he became America’s richest...
...It is an argument regulators should seriously consider, even as they cast a jaundiced eye over the operations of the largest US airlines....
...New variants, first Delta and now Omicron, have sent airline stocks plunging, only to recover as passengers absorb the news and continue to fly....
...That’s why the company is seeking to buy what it calls “mini-MatchMoves” in markets in central Europe, Latin America and the US, he said....
...“SFO [the San Francisco airport] has always benefited from being the gateway to the Pacific,” as well as “massive demand — and very profitable demand — from technology companies”, he said....
...Delta said on Monday that it would maintain its equity stake in the UK carrier at 49 per cent, even as it shrank its holdings in Latam Airlines, Latin America’s largest carrier, and Aeromexico....
...“The high level of concentration has handed the four companies enormous market power, equipping them to keep fares high even as oil prices have plummeted,” Khan wrote in the Washington Post in 2015....
...The country’s largest airlines this week disclosed a slowdown in demand as cases of the highly contagious Delta variant climbed....
...Delta said it had “exhausted all options and resources”, including rerouting some aircraft, to try to avoid cancellations....
...“The last few days of bookings as we passed the [September 6 US Labor Day] holiday have been better,” he added. “So I do feel like the situation is stabilising.”...
...Delta said domestic corporate sales in March were 70 per cent of 2019 figures....
...He also mentioned reduced opportunities for sampling products as the Delta variant spread limited consumer exposure....
...But there are concerns a new wave of the virus could begin as people move indoors during the winter....
...Routes to Asia are likely to take a year to reopen, with South America off-limits for another six to 12 months and the UK and Europe until early autumn....
...As a result, they didn’t have enough people to handle the demand they were seeing.” The Dallas-based company’s jets fly around the country in a “point-to-point” network....
...Write to the FintechFT team at imani.moise@ft.com and sid.v@ft.com....
...As a result, US bank stocks have fallen 14 per cent from a June high. Shares of Bank of America have slid 15 per cent from their recent peak, while Citigroup is off 19 per cent....
...Day, seen in the US as the unofficial end of summer....
...Delta and can be quickly adapted to tackle future strains....
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