Rick Seaney News
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American Airlines parent AMR Corp. filed for bankruptcy after failing to secure cost-cutting labor agreements and sitting out a round of mergers that dropped it from the world’s largest airline to No. 3 in the U.S.
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American Airlines may eventually trim some flights while continuing “business as usual” during parent AMR Corp.’s bankruptcy reorganization, the chief executive officer said.
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Passengers are paying an average of 6 percent more this year for round-trip flights during the U.S. Thanksgiving holiday as airlines reduce their available seats to maintain pricing power.
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U.S. airlines may carry 37,000 fewer passengers a day this Thanksgiving as more expensive tickets and a slowing economy discourage leisure trips.
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Southwest Airlines Co. may lead U.S. carriers in rolling back a fare increase as federal ticket taxes and fees are restored, ending a two-week industry windfall.
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American Airlines raised domestic fares as much as $10 round trip, sparking an industrywide increase in ticket prices, according to travel website FareCompare.com.
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U.S. airlines led by United Continental Holdings Inc. may pocket $1.3 billion in higher fares tied to the Federal Aviation Administration’s partial shutdown as Congress deadlocks on the agency’s funding.
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United Continental Holdings Inc., US Airways Group Inc. and Alaska Air Group Inc. all reported higher quarterly profits than analysts estimated as fare increases helped blunt rising fuel costs.
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The Federal Aviation Administration said it’s losing $30 million a day in taxes because Congress let the agency’s revenue-raising authority expire.
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American Airlines boosted domestic round-trip fares by $10 for the seventh broad increase of 2011, matching the total among major carriers in the past two years combined, to blunt higher jet fuel costs.
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