The best N. American airline for punctuality - defined as arriving withing 15 minutes of the scheduled time - is Alaska (ALK), with a rate of 87.79% in 2011. That's according to FlightStats.com's latest On-Time Performance Service awards. The next best are Delta (DAL), United (UAL), AirTran and US Airways (LCC). Globally, the most punctual carrier is All Nippon Airways, whose rate was 90.18%.
An appeals court upholds the authority of regulators to force new airline ticketing rules. One is that carriers will have to prominently display the total price of a ticket in print ads, including taxes. The decision is a defeat for Allegiant (ALGT -2.2%), Southwest (LUV -2.1%) and Spirit (SAVE -1.9%). Many other airline stocks are down as well, with UAL -6.4%.
Should the tight regulation on foreign ownership of U.S. airlines be reconsidered? That's the question posed by industry watcher George Hobica as he can't help but notice the bubbly profits and efficiencies the beer industry kicks up with foreign ownership the norm. Though national security has to be a consideration in the equation, so do endless years of unprofitability and bankruptcies.
United Continental (UAL +1.5%) says the flight attendants that came from Continental Airlines ratified a new labor deal with the company. The next step for the carrier is working out a deal that brings attendants from United Airlines, Continental, and Continental Micronesia under a single contract.
Farnborough: Boeing (BA +0.2%) takes total orders and commitments over the past week for 396 aircraft in deals valued at around $37B, including the blockbuster UALorder. The $37B is more than double Airbus' haul of $16.9B, although in Paris last year, the European firm received $72B in bookings. Suffice to say, the mood was more subdued this year.
Shares of United Continental (UAL -4.2%) fall harder than peers after the carrier confirms its blockbuster buy of 737s. A four-letter word from Goldman Sachs - SELL - seems to be trumping any residual excitement over the expected UAL announcement with delivery for the new jets not slated until 2018 at the earliest.
As expected, United Continental (UAL) and Boeing (BA) announce a major deal in which United will buy 150 737 jets in a booking worth $14.7B at list prices. The transaction is split into 100 Boeing 737 MAX 9 planes and 50 Boeing 737-900 extended-range aircraft for delivery between 2013 and 2022. (PR)
Goldman Sachs initiates coverage United Continental (UAL) with a Sell rating on its expectation that the industry will see a correction in H2.
Analysts with the firm say that the market isn't factoring in the weak traffic growth and higher jet fuel prices they see coming around the corner.
Farnborough: Boeing (BA) picks up another deal for its next-gen 737 jets, with Dublin-based leasing firm Avolon ordering up to 30 of the planes in a booking worth $2.3B at list prices. Away from the airshow, United Airlines (UAL) is expected to announce a $9B booking for 100 737 MAX aircraft tomorrow, Reuters reports.
Airline stocks are on watch after the WSJreports that American Airlines (AAMRQ.PK) plans to step up merger talks in the coming weeks and will initiate the process by sending non-disclosure agreements to select carriers and P-E firms. Delta Air Lines (DAL -3.5%) and United Continental (UAL -1.1%) are the companies considered to be in the hunt along with US Airways (LCC +2.1%).
While dealmaking at Farnborough may not fly as high as in the past, Boeing (BA) could still announce orders for the 737 Max from GE's finance arm and Air Lease Corp. (AL), the WSJ reports. Boeing is also in talks with United-Continental (UAL) for a long-expected booking of 100 737s and an option for 100 more.