HFI • 101 Comments
Helix Investment Research • 58 Comments
Helix Investment Research • 10 Comments
Aug. 4, 2013, 3:30 AM
- The Department of Justice has again objected to the $20M severance package for outgoing AMR (AAMRQ.PK) CEO Tom Horton as part of the airline's exit from bankruptcy. The DOJ's Office of the U.S. Trustee has asked a court to block the payment.
- A hearing to to confirm the exit plan, the basis of which is AMR's merger with U.S. Airways (LCC), is scheduled for August 15, when a judge will also consider objections.
- Last week, AMR's creditors overwhelmingly approved the plan.
Aug. 2, 2013, 3:36 PM
- A global travel alert issued by the State Department isn't expected to have a large impact on U.S. carriers, according to industry insiders.
- The number of flights to Africa and the Middle East from the U.S. is small enough that a disruption will just flow down as a small blip to earnings.
- Airline stocks (AAMRQ.PK, DAL, UAL, JBLU, LCC) started the day off weak even before the State Department chimed in.
Aug. 2, 2013, 4:14 AM
- AMR's (AAMRQ.PK) creditors have overwhelmingly approved the airline's plan to merge with US Airways (LCC) and exit bankruptcy.
- The deal now needs court authorization, as well as the backing of the U.S. Justice Department, which is analyzing the antitrust implications, and that of the EU.
- Under the merger, AMR's creditors, staff and shareholders will receive 72% of the combined company, while US's investors will get 28%.
Jul. 26, 2013, 6:56 AMAMR (AAMRQ.PK) and US Airways (LCC) plan to offer a series of concessions at upcoming meetings with the DOJ to try to clear the runway for the takeoff of their merger. The two carriers have already offered to give up daily slots at London's Heathrow Airport in order to appease regulators on the other side of the pond. | Jul. 26, 2013, 6:56 AM | 2 Comments
Jul. 24, 2013, 8:31 AM
More on US Airways (LCC) Q2 earnings: Excluding special items, pretax profit of $409M was highest in company history. Revenue of $3.9B up 2.9% Y/Y on 3.4% increase in total available seat miles. Revenue/ASM of 16.22 cents off 0.5% Y/Y, with a 2.8% decrease in passenger yield offset by record quarterly load factor of 85.1%. Operating expenses of $3.4B up 1%. Shares +1.9% premarket. CC at 12:30 ET. (PR)| Jul. 24, 2013, 8:31 AM
Jul. 24, 2013, 8:22 AMUS Airways (LCC): Q2 EPS of $1.58 beats by $0.07. Revenue of $3.87B (+2.9% Y/Y) beats by $0.03B. (PR) | Jul. 24, 2013, 8:22 AM | 1 Comment
Jul. 24, 2013, 12:05 AM
Notable earnings before Wednesday’s open: ABC, AOS, ARMH, ARW, ATI, BA, CAT, CFR, CKSW, CP, CVE, DAL, DPS, ECA, ELN, EMC, EVR, F, GD, GNTX, ICON, LAD, LCC, LL, LLY, MCO, MDCO, MSA, MSI, MTH, NDAQ, NOC, NOR, NYCB, OC, OCR, PCH, PEP, PLD, PVR, PX, RAI, RCI, RDN, RES, RLGY, SAVE, STX, TEL, TMO, TROW, TUP, WLP, WYN| Jul. 24, 2013, 12:05 AM
Jul. 23, 2013, 5:30 PM
Notable earnings before Wednesday’s open: ABC, AOS, ARMH, ARW, ATI, BA, CAT, CFR, CKSW, CP, CVE, DAL, DPS, ECA, ELN, EMC, EVR, F, GD, GNTX, ICON, LAD, LCC, LL, LLY, MCO, MDCO, MSA, MSI, MTH, NDAQ, NOC, NOR, NYCB, OC, OCR, PCH, PEP, PLD, PVR, PX, RAI, RCI, RDN, RES, RLGY, SAVE, STX, TEL, TMO, TROW, TUP, WLP, WYN| Jul. 23, 2013, 5:30 PM
Jul. 22, 2013, 2:59 PM
U.S. Airways (LCC +0.1%) remains Imperial Capital's top pick in airlines following recent updates showing industry traffic and unit revenue growth slowed in Q2. Catalysts include expected approval of its merger with American Airlines. The dispute over American Air's share of slots at Reagan National will be settled without delaying the merger or affecting the combined entity's profitability. Another pick is Brazilian low-cost carrier Gol Linhas (GOL), with consensus not appreciating the impact of capacity cuts being made by the airline and its main competitor Latam Airlines Group (LFL).| Jul. 22, 2013, 2:59 PM | 1 Comment
Jul. 18, 2013, 8:42 AMAMR Corporation (AAMRQ.PK): Q2 Net profit of $357M. Revenue of $6.45B. | Jul. 18, 2013, 8:42 AM | 1 Comment
Jul. 12, 2013, 9:24 AM
Jul. 12, 2013, 9:10 AM
US Airways (LCC) shareholders are voting today on the merger with American Airlines (AAMRQ.PK) with small protests from labor groups still percolating. The bigger issue is what regulators will say about the combination, with the DOJ expected to rule before the end of the year on antitrust concerns.| Jul. 12, 2013, 9:10 AM | 1 Comment
Jul. 10, 2013, 9:25 AMAmerican Airlines (AAMRQ.PK) set an all-time monthly record in June for passenger unit revenue per available seat mile as the carrier continues to squeeze out efficiency gains while in bankruptcy. The load factor for American fell 30 bps to 87.4% during the month. | Jul. 10, 2013, 9:25 AM | 2 Comments
Jul. 9, 2013, 4:25 PM
AMR Corporation (AAMRQ.PK) says June consolidated passenger revenue per available seat mile increased an estimated 1.7% versus last year, to 14.39 cents/ASM, an all-time record high for any month. Consolidated capacity and traffic were 2.6% and 2.4% higher, respectively, resulting in a consolidated load factor of 86.9%, 0.2 points lower Y/Y.| Jul. 9, 2013, 4:25 PM
Jul. 5, 2013, 6:53 AM
Airliners continue to find new ways to raise revenue through in-air services and fees. Ticket prices account for only 70% of revenue, down from 84% in 2000, a mark that could fall even further as carriers (DAL, LCC, JBLU, UAL, AAMRQ.PK, ALGT, LUV, RJET, SAVE) roll out new twists such as "annual subscriptions" and express security screening.| Jul. 5, 2013, 6:53 AM | 1 Comment
Jul. 3, 2013, 10:33 AM
US Airways (LCC +0.7%) reports its load factor increased to a record 88.2% during June, an impressive jump from last year's level of 86.5%. Mainline revenue passenger miles rose 7.3% to 6.3B during the month.| Jul. 3, 2013, 10:33 AM