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....
...Chief among them: the airline’s long-standing credit card deal with American Express....
...The 16 per cent collapse in Alaska’s share price on Monday suggests the market thinks this deal will stay grounded. Spirit’s share price offers little comfort....
...“[I]f JetBlue were permitted to gobble up Spirit — at least as proposed — it would eliminate one of the airline industry’s few primary competitors that provides unique innovation and price discipline,” Young...
...American forces launched a second raid on Saturday....
...American Airlines’ shares rallied from $9 at the depth of the pandemic to as high as $25 in 2021. Since that peak, the stock price has fallen by more than 40 per cent despite rising flyer volume....
...It will also allow merchants to charge different prices to consumers based on which credit card they use....
...Financial markets closed South Korea: preliminary Q1 GDP figures US: preliminary Q1 GDP figures Results: Airbus Q1, Aker Solutions Q1, Alphabet Q1, American Airlines Q1, AstraZeneca Q1, Barclays Q1, BNP...
...And I know of airline bosses who constantly fear “that call”. But otherwise, give me a V-sweet C-suite job any time. As if anyone would....
...It’s all been about hammering suppliers on price and on contractual terms.”...
...Clips from NBC, PBS, CBS For further reading: How the US fell out of love with flying Passengers to keep ‘paying the price’ of aviation chaos, says United CEO Hyper-efficiency is bad business US airlines...
...JetBlue is involved in a separate antitrust lawsuit in which US authorities and states are seeking to block regional operating agreements with American Airlines....
...Travel is a consistent theme: Royal Caribbean, Delta, American Airlines, and two casinos (MGM and Las Vegas Sands) are all in the top 10. Business travel is back....
...Prices and routes were set by the Civil Aeronautics Board, which based fares on airline costs plus a 12 per cent profit....
...By comparison, about 199mn people flew on American Airlines in 2022 and 168mn used Ryanair. India’s government has responded by earmarking $11.8bn for airport construction and modernisation....
...“So long as stock prices of public companies and Berkshire’s own share price remain elevated, there won’t be a whole lot of investment activity.”...
...Precious metal miners Pan American and Agnico Eagle have made a joint $4.8bn bid for Yamana Gold, swooping in after Gold Fields faced an uphill battle convincing investors to back its takeover offer....
...An American reader, Micah, writes: Price elasticity for rides was always high (one reason why the taxi industry itself was so fragmented); implication: raising prices across the board will cost Uber lots...
...Yamana’s board said on Friday that the offer from Pan American and Agnico Eagle was a “superior proposal”....
...But analysts and industry groups note that regional airlines are closely monitoring rising fuel prices and interest rates, as economic uncertainties could dampen earnings while airlines are grappling with...
...Canadians Agnico Eagle and Pan American eventually won Yamana with a $4.8bn joint bid in cash and shares Gold prices suggest that the bidding partners timed their swoop well....
...Not content with baggage fees, airlines make families pay more to sit together. But America is not alone....
...I think a lot of people were anticipating a V-shaped recovery . . . People are now waking up the realisation that volatility is going to be normal going forward.”...
...The deal was eventually scuppered last month when Yamana supported a $4.8bn takeover bid from Agnico Eagle and Pan American — a rival approach that Griffith said had justified the large premium in the original...
...American Eagle cleared its excess spring and summer merchandise by resorting to sales that hit profits by $30mn....
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