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New federal rules say travelers deserve cash refunds when inconvenienced by their airline – not vouchers or travel credits. The rules require the fees to be automatic and prompt: Within seven days for a credit card refund and 20 days for other forms of payment. Surge in complaints in 2022The Biden Administration proposed its change to the refund rules in 2022 after a surge in complaints about refunds when the coronavirus brought air travel to a standstill. More than half of the complaints involved flight disruptions or refunds. A federal law allows Congress to unravel recently implemented executive branch rules.
Persons: , Pete Buttigieg, CNN’s John Berman, ” Buttigieg, you’re, “ That’s, , There’s Organizations: CNN — Airline, , Transportation Department, Airlines for, Biden Administration Locations: , Airlines for America, ” “ U.S, Washington, November’s
The Transportation Department on Wednesday announced new rules taking aim at two of the most difficult and annoying issues in air travel: obtaining refunds and encountering surprise fees late in the booking process. The department’s new rules, Mr. Buttigieg said, will hold airlines to clear and consistent standards when they cancel, delay or substantially change flights, and require automatic refunds to be issued within weeks. They will also require them to reveal all fees before a ticket is purchased. Airlines for America, a trade group representing the country’s largest air carriers, said in a statement that its airlines “abide by and frequently exceed” D.O.T. consumer protection regulations.
Persons: , Pete Buttigieg, Buttigieg Organizations: Transportation Department, Wednesday, Transportation, Airlines for America
CNN —The US aviation industry has asked the Biden administration to pause approval of additional flights to and from China, saying Beijing’s “existing harmful anti-competitive policies” hurt American airlines and workers. The letter was signed by industry lobby group Airlines for America — whose members include American Airlines (AAL), Delta (DAL) and United (UAL) — and other unions representing aviation workers, including the Air Line Pilots Association. Chinese carriers were given approval by US officials to make 50 weekly round trips to and from the United States, up from 35, from March 31. “These actions demonstrated the clear need for the US government to establish a policy that protects US aviation workers, industry and air travelers,” it said. “It [boosting flights] will help the two peoples strengthen exchanges and enhance mutual understanding,” the ministry added.
Persons: Biden, , Antony Blinken, Pete Buttigieg, America —, Washington, Xi Jinping, Joe Biden, — Hassan Tayir Organizations: CNN, Airlines, America, American Airlines, DAL, Air Line Pilots Association Locations: China, Delta, United States, Ukraine, San Francisco
Major airlines' bottom line depends on credit card companiesThe Credit Card Competition Act , which was introduced to Congress in June 2023 would require major banks to use at least one credit card payment network that isn't Mastercard or Visa — companies that control more than 80% of US credit card transactions — to introduce more competition into the credit card market. AdvertisementSen. Dick Durbin, a Democrat from Illinois, is the lead sponsor of the Credit Card Competition Act. AdvertisementCredit card rewards incentivize travelersBusinesses typically make up for these credit card swipe fees by raising prices for customers. Bohorquez, however, said increased credit card competition is unlikely to lower prices in practice. "I hope that people continue to earn and enjoy their credit card points and take a lot of free trips."
Persons: , Jess Bohorquez, Bohorquez, she's, Banks, Sen, Dick Durbin, Durbin, I'm Organizations: Service, Sydney Opera House, Business, Federal, Mastercard, Visa, Airlines, United, Southwest Airlines, United Airlines, BI, Airlines for America, American Airlines, America, Banking, Housing, Urban Affairs, House Locations: Illinois, Delta
The deal is smaller than the mergers that reshaped the airline industry more than a decade ago. But the Justice Department is already fighting another smallish deal — JetBlue's proposal to buy Spirit Airlines. This deal will provide another test for the Biden administration’s resolve to preserve competition in various industries. PRO AND CON ARGUMENTSIn the JetBlue case, the Justice Department sued because it wants to preserve Spirit, the nation's biggest discount airline. Under President Joe Biden, the Justice Department seems to be showing some buyer's remorse that previous administrations didn't block some of those mergers.
Persons: Biden, Ben Minicucci, Henry Harteveldt, Joe Biden, Organizations: Alaska Air Group's, Hawaiian Airlines, Spirit Airlines, Alaska Airlines, Alaska Air Group, U.S ., JetBlue, Virgin America, JetBlue . Hawaiian Airlines, Alaska Air, U.S . Department of Transportation, American Airlines, Justice, Alaska -, U.S, Justice Department, Atmosphere Research, Delta Air Lines, United Airlines, Southwest Airlines, Transportation Department, Airlines, America — Locations: Alaska, Hawaiian, ALASKA, Seattle, West Coast, California, U.S, Asia, Hawaii, Cirium, United States
On Tuesday, 2.6 million passengers were screened at airport security checkpoints, the highest ever for a Tuesday before Thanksgiving, according to the U.S. Transportation Security Administration. [1/10]People go to their flight gates ahead of the Thanksgiving holiday at O’Hare International Airport in Chicago, Illinois, U.S. November 22, 2023. The two major airports in Houston, Texas were expecting to shatter their record of air travelers from Nov. 16-28. Some 2.4 million people were expected to fly through Houston, up 11% from that period in 2022, the airports' management said. Out West, a snowstorm in the northern and central Rocky Mountains and adjacent High Plans will likely affect Thanksgiving travel from Wednesday night through Friday, the weather service said.
Persons: Mike Arnot, Vincent Alban Acquire, COVID, Hopper, Daniel Trotta, Allison Lampert, Joseph Ax, Gabriella Borter, Miral Fahmy, Jonathan Oatis, David Gregorio Our Organizations: National Weather Service, Airlines for America, U.S . Transportation Security Administration, Ontario . Buffalo Niagara International, O’Hare, REUTERS, American Automobile Association, AAA, Thomson Locations: U.S, United States, Canada, Niagara Falls, New York, Ontario, Chicago , Illinois, Houston , Texas, Houston, New England, New Hampshire, Rocky
[1/5] Passengers make their way through the terminal as they travel ahead of the Thanksgiving holiday at Washington Dulles International Airport in Dulles, Virginia, U.S., November 22, 2023. REUTERS/Kevin Lamarque Acquire Licensing RightsNov 22 (Reuters) - Millions of Americans headed to the homes of friends and family on Wednesday, the day before the Thanksgiving holiday, on the busiest travel day since the pandemic, undeterred by a sprawling East Coast storm system that disrupted some flights and slowed traffic. Industry group Airlines for America forecast U.S. airlines would carry some 29.9 million passengers between Nov. 17 and Nov. 27. That figure would be an all-time high, 9% higher than last year and up 1.7 million passengers from the levels seen before the COVID-19 pandemic. Out West, a snowstorm in the northern and central Rocky Mountains and adjacent High Plans will likely affect Thanksgiving travel from Wednesday night through Friday, the weather service said.
Persons: Kevin Lamarque, Hopper, Abraham Lincoln, Daniel Trotta, Joseph Ax, Miral Fahmy, Jonathan Oatis Organizations: Washington Dulles International, REUTERS, Industry, Airlines, America, U.S . Transportation Security Administration, American Automobile Association, AAA, National Weather Service, Thomson Locations: Dulles , Virginia, U.S, East, COVID, Carolinas, Atlantic, New England, New Hampshire, Rocky
President Joe Biden earlier this year said his administration would crack down on hidden fees. WaPo examined federal lobbying files and hundreds of filings that were sent to federal agencies. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFrom a dizzying array of airline fees to add-ons tacked on to concert ticket prices, Americans are fed up with hidden fees. AdvertisementThe Post analyzed federal lobbying files and filings sent to federal agencies as the administration pushes to save US consumers from collectively spending billions of dollars in fees each year.
Persons: Joe Biden, WaPo, , Biden, Doug Mullen, Dan Wall Organizations: Service, The Washington, Travelers, American Airlines, Delta Air Lines, United Airlines, Department of Transportation, Airlines for, Airlines, America, Live, Post Locations: Airlines for America
Between 2018 and 2022, total revenue across major U.S. airlines from baggage fees increased from $4.9 billion to $6.8 billion, the senator said. Blumenthal also cited a report by a travel consultancy that found that eight leading U.S. airlines last year collected an estimated $4.2 billion in fees for seat selection. "U.S. airlines increasingly charge ancillary fees that obscure the actual cost of air travel," Blumenthal said in the letters. Airline CEOs in 2018 lobbied against bipartisan legislation to mandate "reasonable and proportional" baggage and change fees and convinced Congress to drop the plan. The U.S. Transportation Department last year proposed requiring airlines to disclose fees for baggage, ticket changes and family seating the first time an airfare is displayed.
Persons: Shelby Tauber, Richard Blumenthal, Blumenthal, David Shepardson, Will Dunham, Chris Reese Organizations: Dallas Love Field Airport, REUTERS, Rights, U.S, Senate, Democratic, Investigations, American Airlines, United Airlines, Delta Air Lines, Spirit Airlines, Frontier Airlines, Airlines for America, U.S . Transportation, Aviation, Thomson Locations: Dallas , Texas, U.S, Delta
Welcome to the (almost) red-hot bond market
  + stars: | 2023-11-15 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +7 min
When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. Surging mortgage rates over the past few years have sent home loan applications and home sales down sharply. The 30-year fixed rate mortgage was also advancing towards 8% — a level not seen since the dot-com bubble popped in 2000. Those raging Treasury yields brought pain to investors and also increased how much American companies had to pay to service their debts. In fact, Wall Street is struggling to figure out what it means for the timing and scale of future rate cuts.
Persons: , Michael Hartnett, Gina Bolvin, “ We’re, Phillip Wool, Goldman Sachs, Morgan Stanley, Ellen Zentner Organizations: New, New York CNN, New York Federal, Treasury, Dow, Bank of America, Bolvin Wealth Management, Mortgage News, Mortgage, Association, Financial, Consumer, Federal Reserve, Goldman, Fed, UBS, Airlines for America, AAA Locations: New York
October Inflation Report Price Rises Expected to Cool
  + stars: | 2023-11-14 | by ( Jeanna Smialek | ) www.nytimes.com   time to read: +7 min
Airlines lower their fares when they are trying to get more people to book tickets as demand is slowing or they are facing stiffer competition. Early this month, the average price for a domestic flight around Thanksgiving was down about 9 percent from a year ago. But some airlines say demand is slowing outside of holiday and other peak travel periods. Image Thanksgiving this year is expected to set a record for air travel, with nearly 30 million passengers anticipated. If travel demand is dropping, in some ways that’s an even bigger win for people who are never going to give up on travel.”
Persons: Denise Diorio, “ I’ve, ’ ”, Diorio, Hopper, , Kyle Potter, Potter, Stefani Reynolds, John Grant, “ We’re, , ” Barry Biffle, Steve Hafner, that’s Organizations: Airlines, Airlines for America, Credit, The New York Times, U.S, JetBlue Airways, Spirit Airlines, Frontier Airlines, Miami, Analysts Locations: Tampa , Fla, Chicago, New York, Paris, Europe, Caribbean, Denver, Orlando, Fla, Los Angeles, East, Ukraine
REUTERS/Elijah Nouvelage Acquire Licensing RightsWASHINGTON, Nov 13 (Reuters) - Major U.S. airlines and the Transportation Security Administration (TSA) said Monday they expect record air travel over the Thanksgiving holiday air travel period. Airlines for America says Nov. 26 will be a record-setting air travel day with 3.2 million passengers. The record travel comes despite airline flight cuts to New York airports because of air traffic controller staffing. A government watchdog said in June critical ATC facilities face significant staffing challenges, posing risks to air traffic operations. In the summer of 2022, there were 41,498 flights from New York airports in which ATC staffing was a contributing factor in delays.
Persons: Elijah Nouvelage, David Shepardson, Alistair Bell Organizations: Hartsfield, Jackson Atlanta International Airport, REUTERS, Rights, Major U.S, Transportation Security Administration, Airlines for America, American Airlines, United Airlines, Delta Air Lines, TSA, Federal Aviation Administration, JetBlue Airways, JFK, New York, Thomson Locations: Atlanta , Georgia, U.S, Major, New York, New York City, Burlington , Vermont, New
They say it will cut revenues of major payment networks, making them pull out of rewards programs. AdvertisementAdvertisementUS airlines are attacking a new bill in Congress that seeks to lower credit card swipe fees, saying it would effectively end most flyer miles programs. AdvertisementAdvertisementIn a statement to Insider, Southwest Airlines said the bill is a "bad policy" that would "undermine, if not completely end, credit card rewards programs." Notably, losing credit card rewards programs could create troubles for airlines that go beyond irate customers missing their free miles. "Their banks and airlines still offer points and miles programs," Durbin told Insider in a statement.
Persons: Sen, Dick Durbin of, Durbin, Ed Bastian, Bloomberg, Scott Kirby, they're, it's, Lance Gooden Organizations: Visa, Mastercard, Morning, Dick Durbin of Illinois, Air, Airlines for, Southwest Airlines, American Airlines, United, European Union, GOP, Democratic, Republican Locations: Airlines for America, European, Texas
AdvertisementAdvertisementEven though Russian airspace is closed to US airlines, many Americans may still end up flying through Russian skies. This includes four European carriers: Air Serbia, Turkish Airlines, Pegasus Airlines, and Belarus' Belavia. Emirates' flight path from Dubai to Los Angeles on September 25 showed it flew over Russian airspace. Looking at the time of writing for mid-November, a ticket on Air India is nearly $2,000 cheaper than American. This was a particular concern earlier this year when Chinese airlines were using Russian airspace on routes to the US.
Persons: , FlightRadar24, Robert Menendez, James Risch, Putin, Roman Protasevich, Scott Kirby, Kirby Organizations: Carriers, Air India, Service, Moscow, Air, Turkish Airlines, Pegasus Airlines, Ethiopian Airlines, Qatar Airways, Etihad Airways, US ., Los Angeles, Uzbekistan Airways, Reuters, Travelers, NBC News, White, Malaysian Airlines, Ryanair, United Airlines, overflying, Airlines, China Eastern Airlines, American Airlines, Google, Current, Delta Air Lines Locations: Europe, Russia, Ukraine, Asia, Emirates, Russian, Air Serbia, Turkish, Belarus, Moscow, Africa, Air China, US . Emirates, Dubai, Los, West Coast, FlightAware . Emirates, Los Angeles, Air India, New Delhi, New York, Chicago, San Francisco, Tashkent, Qatar, Doha, China, detouring, Uzbekistan, American, Belarusian, Australia, overflying Russia, America, India, United
REUTERS/Alyssa Pointer/File Photo Acquire Licensing RightsCHICAGO, Sept 21 (Reuters) - Travel boom has delivered bumper earnings for U.S. carriers, but no-frills airlines such as Frontier (ULCC.O) and Spirit (SAVE.N) are struggling to return to sustainable profitability. Frontier is watching the trend "very carefully" and would consider adding premium seats if it lasts for multiple years, he said. Frontier's Biffle called adding premium seats a "big decision" and a "fairly expensive" move. Spirit shares are down 18%. PRICE-SENSITIVE TRAVELERSCEOs of budget carriers, however, don't see the model losing its appeal as long as fares determine travel bookings.
Persons: Alyssa Pointer, Barry Biffle, Biffle, Jude Bricker, Bricker, Frontier's Biffle, Andrew Levy, Scott Kirby, Helane Becker, Cowen, Jacob Brown, Brown, Rajesh Kumar Singh, Nick Zieminski Organizations: Hartsfield, Jackson Atlanta International Airport, REUTERS, Rights, Graphics, Frontier, Reuters, Sun, Privately, Avelo Airlines, United, Delta, United Airlines, Airlines, America, Thomson Locations: Atlanta , Georgia, U.S, Europe, Asia, , Minneapolis, Denver
More companies are warning that a surge in the cost of fuel and employee pay hikes will eat into profits this quarter. Airlines, whose biggest expenses are jet fuel and labor, are getting hit particularly hard. The carrier said it is paying more for fuel than it expected but said maintenance costs were also higher than anticipated. U.S. jet fuel at major airports averaged $3.42 a gallon as of Tuesday, up 38% from two months ago, according to Airlines for America, an industry group. On Wednesday, American Airlines trimmed its earnings forecast, following revisions at Alaska Airlines and Southwest Airlines .
Organizations: Companies, Airlines, Delta Air Lines, U.S, Airlines for America, American Airlines, Alaska Airlines, Southwest Airlines Locations: Hollywood
Biden picks former aviation official to head FAA
  + stars: | 2023-09-07 | by ( David Shepardson | ) www.reuters.com   time to read: +4 min
REUTERS/Marco Bello/File photo Acquire Licensing RightsWASHINGTON, Sept 7 (Reuters) - The White House said on Thursday President Joe Biden is nominating a former senior aviation official to head the Federal Aviation Administration (FAA) that has been without a permanent head since April 2022. Biden is tapping Michael Whitaker, currently chief commercial officer for Supernal, a Hyundai company developing an electric air vehicle, who served as a deputy FAA administrator under President Barack Obama. "He knows aviation, he knows safety, he knows the FAA and he knows how to manage and modernize large organizations," he said. Biden's prior nominee to head the FAA Phil Washington withdrew in March after critics said he lacked aviation experience. The Air Line Pilots Association praised Whitaker's nomination and said the FAA needed "permanent, stable leadership that is safety-focused."
Persons: Marco Bello, President Joe Biden, Biden, Michael Whitaker, Barack Obama, Steve Dickson, Mike Whitaker, Pete Buttigieg, Biden's, FAA Phil Washington, Whitaker, Whitaker's, David Shepardson, Tomasz Janowski Organizations: American Airlines, Miami International Airport, Federal Aviation Administration, FAA, REUTERS, Rights, President, Hyundai, Southwest Airlines, Boeing, Cessna, Reuters, Transportation Safety, TWA, United Airlines, Flight, Foundation, The Air Line Pilots Association, Airlines for America, National, Thomson Locations: Florida, Miami , Florida, U.S, San Diego ., San Diego
President Joe Biden will nominate a former Obama administration official to lead the Federal Aviation Administration after his first choice withdrew March after running into opposition from Republican senators. Whitaker's nomination had been expected for months, and Biden's announcement was praised by several industry and labor groups. The FAA, which regulates airline safety and manages the nation's airspace, has been run by back-to-back acting administrators since March 2022. The first, Billy Nolen, who left FAA in June to join another air taxi company, Archer Aviation, praised Whitaker's nomination in a recent interview. Sara Nelson, president of the Association of Flight Attendants, urged the Senate to confirm Biden’s pick quickly.
Persons: Joe Biden, Obama, Biden, Michael G, Whitaker, Phillip Washington, Kyrsten Sinema, Sen, Ted Cruz, Biden's, Mike, ” Cruz, Stephen Dickson, Donald Trump, Billy Nolen, , , ” Nicholas Calio, Sara Nelson, “ Whitaker Organizations: Federal Aviation Administration, Republican, FAA, Hyundai, TWA, American Airlines, United Airlines, Denver International Airport, Senate, Washington, GOP, Archer Aviation, Airlines for, Association of Flight Locations: InterGlobe, India, United States, Denver, Ted Cruz of Texas, Airlines for America
A bird flies by in the foreground as a Southwest Airlines jet comes in for a landing at McCarran International Airport on May 25, 2020 in Las Vegas, Nevada. Major U.S. airlines warned about a spike in jet fuel prices, adding to costs during the busy summer travel season. The higher cost forecasts come as Southwest Airlines narrowed its unit revenue outlook for the current quarter. The Dallas-based carrier said it expected unit revenue to fall 5% to 7% from last year in the three months ending Sept. 30. Alaska Airlines said higher fuel prices will eat into its pretax margin this quarter.
Organizations: Southwest Airlines, McCarran International Airport, Major U.S, Jet, Los Angeles and New York, Labor, Airlines for America, Southwest, Alaska Airlines, United Airlines, Airlines Locations: Las Vegas , Nevada, Major, Chicago, Houston, Los Angeles and New, Dallas, Southwest
U.S., China agree to double weekly flights between countries
  + stars: | 2023-08-11 | by ( ) www.cnbc.com   time to read: +4 min
Sources said U.S. airlines are not expected to immediately take advantage of all 18 weekly flights. China Eastern 600115.SS, Xiamen Airlines and China Southern 600029.SS also fly scheduled service to the U.S., while United Airlines UAL.N, American Airlines AAL.O and Delta Airlines DAL.N currently operate passenger flights to China. The 24 weekly flights are still a fraction of the more than 150 round-trip flights allowed by each side before restrictions were imposed in early 2020 due to the COVID-pandemic. Previously, only eight weekly flights by Chinese carriers were allowed. Reuters reported in June Chinese airlines were avoiding flying over Russian airspace in newly approved flights to and from the U.S. but still using Russian airspace for other flights.
Persons: New York John F, Biden, USDOT, Antony Blinken's, United, Today's Organizations: Air, Air China Boeing, New York, Kennedy International Airport, U.S . Transportation Department, Reuters, Embassy, State Department, . Air, SS, Xiamen Airlines, United Airlines UAL.N, American Airlines, Delta Airlines, Airlines for America Locations: Air China, New, Jan, U.S, China, Beijing, Washington, Japan, South Korea, Australia, . Air China, Los Angeles . China, Shanghai
Sources said U.S. airlines are not expected to immediately take advantage of all 18 weekly flights. China Eastern (600115.SS), Xiamen Airlines and China Southern (600029.SS) also fly scheduled service to the U.S., while United Airlines , American Airlines (AAL.O) and Delta Airlines (DAL.N) currently operate passenger flights to China. The 24 weekly flights are still a fraction of the more than 150 round-trip flights allowed by each side before restrictions were imposed in early 2020 due to the COVID-pandemic. Previously, only eight weekly flights by Chinese carriers were allowed. Reuters reported in June Chinese airlines were avoiding flying over Russian airspace in newly approved flights to and from the U.S. but still using Russian airspace for other flights.
Persons: Dado Ruvic, Biden, USDOT, Antony Blinken's, United, Today’s, David Shepardson, Marguerita Choy Organizations: REUTERS, U.S . Transportation Department, Reuters, Embassy, State Department, . Air China, Xiamen Airlines, United Airlines, American Airlines, Delta Airlines, Airlines for America, Thomson Locations: U.S, China, Beijing, Washington, Japan, South Korea, Australia, Los Angeles . China, Xiamen, Shanghai
New York CNN —The federal government is allowing airlines to continue to run reduced flight schedules to major airports serving New York City and Washington in hopes of curbing flight cancellations and reducing the burden on short-staffed air traffic controllers. The FAA says the slot waivers — initially set to expire on September 16 — have been extended another six weeks until October 28. The new extension follows pleas by United Airlines and the airline industry’s top lobby, Airlines for America. CNN has reached out to United Airlines and Airlines for America for comment. Airline staffing shortagesShortages extend beyond air traffic controllers, too.
Persons: Organizations: New, New York CNN, Federal Aviation Administration, Reagan National Airport, D.C, FAA, United Airlines, Airlines for, New York, CNN, United Airlines and Airlines for America Locations: New York, New York City, Washington, New, LaGuardia, JFK, Newark, Airlines for America, Newark , JFK
REUTERS/Eduardo Munoz/File PhotoWASHINGTON, Aug 9 (Reuters) - U.S. regulators said on Wednesday they will extend temporary cuts to minimum flight requirements at congested New York City-area airports and Washington National Airport through Oct. 28, citing air traffic controller staffing issues. Major airlines on Monday sought an extension of the waiver, saying air traffic staffing levels in a key New York air traffic sector have not "meaningfully improved." A government audit in June said the FAA faces critical air traffic staffing and disclosed New York TRACON staffing was at 54% compared with optimal levels. Airlines for America, an industry trade group said air traffic control staffing and extreme weather "are unique circumstances beyond our control." Last summer, there were 41,498 flights from New York airports where FAA air traffic control staffing was a contributing factor in delays.
Persons: Eduardo Munoz, David Shepardson, Marguerita Choy Organizations: United Airlines, Newark Liberty International Airport, REUTERS, Washington National Airport, Federal Aviation Administration, Delta Air Lines, FAA, New York, Airlines for America, Philadelphia, Thomson Locations: York, Newark , New Jersey, U.S, New York City, New York, NYC, Chicago, Newark
REUTERS/Eduardo Munoz/File PhotoWASHINGTON, Aug 7 (Reuters) - Major U.S. airlines on Monday asked the Federal Aviation Administration to extend cuts to minimum flight requirements at congested New York City-area airports and a Washington airport, citing a lack of adequate air traffic control staffing. Airlines can lose their slots at congested airports if they do not use them at least 80% of the time. In the Airlines for America letter, the group said air traffic control staffing and extreme weather "are unique circumstances beyond our control." In June, a government audit said the FAA faces critical air traffic staffing shortages and "lacks a plan to address them." Last summer there were 41,498 flights from New York airports where air traffic control staffing was a contributing factor in delays.
Persons: John F, Eduardo Munoz, David Shepardson, Leslie Adler, Matthew Lewis, David Gregorio Our Organizations: Kennedy International, REUTERS, Major U.S, Monday, Federal Aviation Administration, FAA, Delta Air Lines, United Airlines, Washington National Airport, Airlines for America, Reuters, Airlines, Newark Liberty International Airport, New, Philadelphia, America, Thomson Locations: New York City, U.S, Major, Washington, New York, Chicago, Newark
Before the pandemic hit in 2020, corporate travel was the travel industry's cash cow. Investors in travel companies are concerned that the spending from vacationers cannot make up the shortfall. For months, Alaska Air's (ALK.N) business bookings have been 25% below pre-pandemic levels. JetBlue Airways (JBLU.O) said on Tuesday it will redeploy capacity away from New York to high-margin leisure destinations with business travel demand 20% below pre-pandemic levels. Recent passenger screening and fare data shows U.S. travel demand has peaked, hurting the carriers' pricing power.
Persons: Ronald Reagan, Kevin Lamarque, Shane Tackett, Bob Jordan, Kevin Kopelman, Luis Gallego, JPMorgan Chase, Goldman Sachs, Morgan Stanley, Rajesh Kumar Singh, Doyinsola Oladipo, Sarah Young, Joanna Plucinska, David Gaffen, Matthew Lewis Organizations: Ronald Reagan Washington National Airport, REUTERS, U.S, Investors, Airlines for America, Reuters, JetBlue Airways, Southwest Airlines, Marriott, MasterCard, Delta Air Lines, American Airlines, NYSE, Cowen, British Airways, IAG, Google, JPMorgan, Thomson Locations: Ronald Reagan Washington, Arlington , Virginia, U.S, Alaska, Seattle, Mexico, Costa Rica, California, New York, Asia, Pacific, Europe, Chicago, London
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