Author: Rajesh Kumar Singh
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Travel boom not enough to drive profits at US budget airlines Frontier, Spirit
By Rajesh Kumar Singh CHICAGO (Reuters) – Travel boom has delivered bumper earnings for U.S. carriers, but no-frills airlines such as Frontier and Spirit are struggling to return to sustainable profitability. That has made some of them weigh premium-price offerings, including first-class seats, customer lounges and branded foods even as they expect fares to remain…
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United Airlines buying land in Denver as it pursue growth strategy
By David Shepardson and Rajesh Kumar Singh (Reuters) – United Airlines on Friday said it is spending $33 million to buy 113 acres (46 hectares) in Denver as part of its growth strategy. The Chicago-based U.S. airline said it plans to use “part of this land as the site for the expansion of our world-class…
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American Airlines pilots reach agreement on new contract
By Rajesh Kumar Singh and Allison Lampert CHICAGO (Reuters) -American Airlines pilots have agreed in principle on a new contract, their union said on Friday, ahead of a busy summer travel season after years of negotiations with the largest U.S. carrier. The Allied Pilots Association (APA), which represents over 13,000 pilots at Texas-based American, said…
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Southwest working on a series of updates, upgrades to technology -CIO
By Rajesh Kumar Singh CHICAGO (Reuters) – Southwest Airlines Co is working on a series of updates and upgrades to its technology to avoid a repeat of the operational disruption the airline suffered in late December, a top executive said on Monday. The Dallas-based carrier’s technology has been in focus ever since it suffered an…
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U.S. senators blast Southwest holiday meltdown, labeled ‘unmitigated disaster’
By David Shepardson and Rajesh Kumar Singh WASHINGTON (Reuters) -Southwest Airlines on Thursday faced harsh criticism from U.S. senators at a hearing investigating the airline’s meltdown that disrupted travel plans for 2 million customers, with one lawmaker calling the situation an “unmitigated disaster.” Senators recounted to Southwest a litany of horrendous travel stories: People missing…
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Southwest to tell U.S. lawmakers ‘we messed up’ during holiday meltdown
By David Shepardson and Rajesh Kumar Singh WASHINGTON/CHICAGO (Reuters) -Southwest Airlines Chief Operating Officer Andrew Watterson will apologize on Thursday before a U.S. Senate committee over the holiday meltdown that led to the cancellation of 16,700 flights and pledge changes to ensure that there will be no repeats. “Let me be clear: we messed up.…
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GE profit forecast disappoints amid troubles at renewable energy business
By Rajesh Kumar Singh and Abhijith Ganapavaram CHICAGO (Reuters) – General Electric Co on Tuesday exceeded expectations for quarterly earnings on robust demand for jet engines and power equipment, but gave a disappointing full-year outlook as problems persisted at its renewable energy business. The Boston-based conglomerate is grappling with inflationary headwinds, which were also flagged…
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New York state comptroller asks Southwest Air about plans to avoid future meltdowns
By Rajesh Kumar Singh CHICAGO (Reuters) – New York State’s comptroller has written to Southwest Airlines Co, asking the carrier to explain how it plans to prevent an operational collapse like the one at the end of last year which stranded thousands of passengers. The comptroller’s office oversees the state’s pension system, which held 1.35…
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Delta expects profit to nearly double next year on ‘robust’ air travel demand
By Rajesh Kumar Singh CHICAGO (Reuters) -Delta Air Lines Inc said on Wednesday its profit is expected to nearly double next year, driven by “robust” travel demand and a decline in non-fuel operating costs. The Atlanta-based carrier forecast an adjusted profit of $5 to $6 per share for 2023, up from an estimated $3.07 to…
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Southwest reinstates dividend; says no signs of slowdown in travel demand
By Rajesh Kumar Singh and Priyamvada C CHICAGO (Reuters) -Southwest Airlines Co on Wednesday became the first major U.S. airline to reinstate its quarterly dividend, more than two years after suspending it in the wake of the coronavirus pandemic. Chief Executive Officer Bob Jordan said the reinstatement reflects “the strong return in demand for air…