AMR Corporation reported a net loss of $340 million for the fourth quarter of 2008. The results for the fourth quarter of 2008 include the impact of two special charges: a $23 million charge for aircraft groundings, facility write-offs and severance related to the Company’s previously announced capacity reductions during the last four months of
The European Union approved a EUR 200 million short term loan for Austrian Airlines AG, as the company awaits approval for its takeover by Germany’s Lufthansa AG.
Forward Air Corporation has revised its fourth quarter guidance for earnings per diluted share to a range of $.27 to $.29. Previously, the Company
Mesa Air Group announced fourth quarter losses from continuing operations of $22.3 million on gross operating revenues of $325.3 million. This compares to losses from continuing operations of $62.2 million in the fourth quarter of 2007 on gross operating revenues of $327.8 million. Total operating revenues decreased $2.6 million year-over-year, or 0.8%, primarily as a
Air France-KLM and Alitalia have reached an agreement to strengthen their partnership cemented by Air France-KLM taking a minority stake in Alitalia. Air France-KLM will subscribe to a reserved capital increase for an amount of some 323 million euros. As a result of this operation, Air France-KLM will own 25% of the capital of Alitalia.
Air Canada announced that it has concluded a secured revolving credit facility with the Canadian Imperial Bank of Commerce which will provide the airline with up to $100 million of revolving credit for a term of one year. Upon closing, Air Canada has drawn funding of $50 million from the credit facility. Additional draw downs
Frontier Airlines Holdings filed its Monthly Operating Report for November 2008. Frontier reported a consolidated net profit of $2.9 million and an operating profit of $2.5 million for the month. Included in Frontier’s operating profit were non-cash mark-to-market losses on fuel hedge contracts of $2.0 million. Frontier’s cash position increased to $53.4 million for November
Delta Air Lines has completed its offering of common stock. The company sold 18,172,219 shares of common stock through a continuous offering program equity distribution agreement with Citi, generating gross proceeds of approximately $196 million. All of the shares of stock sold in this offering were withheld, as the employee portion of withholding taxes on
AerCap Holdings has signed a facility agreement with Calyon S.A. and other banks and financial institutions, outlining the terms pursuant to which the European Export Credit Agencies may provide guarantees on up to $1.4 billion of financing. This represents a significant portion of the remaining financing needed for the Airbus A330 order delivering between 2009
