DIRS.INFO The most relevant business & tech news

☆ How I took the 'best' photo of the 2017 American solar eclipse — and what I'm doing differently this year
▼ + stars: | 2024-03-15 | by ( Kelly Burch | ) www.businessinsider.com time to read: +6 min

I finally got my chance during the 2017 Great American Eclipse, but capturing that perfect shot from my dreams was not easy. As I looked at flight paths, I realized that a Southwest flight from Portland, Oregon to St. Louis, Missouri would travel basically along the eclipse path. But then the flight crew clarified that they were deliberately delaying the flight so it would be inside the moon's shadow. Lucky for me, the flight crew and pilot took my mission to heart. What I'm doing differently this yearJon Carmichael was thousands of feet in the air when he took a series of photos that culminated to produce this iconic image, considered one of the best eclipse photos ever taken.

Persons: —, astrophotographer Jon Carmichael, I'd, I'm, Jon Carmichael, Alayna, We'll, I've Organizations: Service, Business, Alaska Airlines, NASA, Southwest Airlines Locations: Portland , Oregon, St, Louis , Missouri, New York, Portland, Southwest, Idaho, Oregon, Dallas, Pittsburg, Mississippi

☆ Alaska Airlines expects a $150 million hit due to the grounding of its Boeing planes
▼ + stars: | 2024-01-25 | by ( Associated Press | ) www.businessinsider.com time to read: +4 min

Read previewAlaska Airlines said Thursday that the grounding of its Boeing 737 Max 9 jetliners will reduce full-year profit by $150 million and slow down the airline's planned growth. Separately on Thursday, Southwest Airlines said that it will receive six fewer new planes than it expected this year because of ongoing production problems at Boeing. American Airlines CEO Robert Isom chimed in on Thursday, calling Boeing's safety issues "unacceptable." AdvertisementAnalysts expected American Airlines Group Inc. to earn 11 cents per share, according to a FactSet survey. Alaska's $2 million loss compared with a $22 million profit a year earlier.

Persons: —, Max, Robert Isom chimed Organizations: Service, Alaska Airlines, Boeing, Max, Business, United Airlines —, Southwest Airlines, Southwest, American, American Airlines Group Inc, Revenue, Southwest Airlines Co, Dallas, Alaska Air Group Inc Locations: Alaska, Oregon, Seattle, United, Fort Worth , Texas

Southwest also said Thursday that it expects to receive fewer new planes than it expected this year because of ongoing production problems at Boeing. American said Thursday that it earned $19 million in the fourth quarter, down from $803 million a year earlier. Analysts expected American Airlines Group Inc. to earn 11 cents per share, according to a FactSet survey. Wall Street expected Southwest Airlines Co. to earn 12 cents per share. Earlier this week, United said it expects to lose money in the first quarter because of the grounding.

Persons: Max, United Organizations: DALLAS, American Airlines, Southwest Airlines, Southwest, Boeing, American Airlines Group Inc, Revenue, Southwest Airlines Co, Dallas, Max, Federal Aviation Administration, United Locations: Fort Worth , Texas, Southwest, Alaska

☆ The 4 most important things we're watching in the stock market this coming week
▼ + stars: | 2024-01-20 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Fortunately, we'll get useful information in the coming weeks as earnings season ramps up and updated inflation data is released. We really want to see more supply come into the market to provide some relief on shelter costs. Looking to next week, we'll get a several key economic updates and a ramp up of earnings releases. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Morgan Stanley, we'll, Procter & Gamble, we've, We're, we're, We'll, Forex, Brown, BRO, Zions, CrossFirst, Johnson, Lockheed Martin, Horton, ERIC, Baker Hughes, Abbott, ABT, Clark, BOK, Monro, Simmons, United Community Banks, Lam, Ethan Allen Interiors, Raymond James Financial, Sherwin, Williams, Northrop, Murphy, Arthur J, Levi Strauss, LEVI, Booz Allen, Jim Cramer's, Jim Cramer, Jim, John Gress Organizations: Nasdaq, Microsoft, Nvidia, Tesla, Apple, Bank of America, Reserve, Procter, Gross, Citigroup, of Hawaii, United Airlines, Logitech International S.A, AGNC Investment, Agilysys Inc, Great Southern Bancorp, Enterprise Financial Services, Independent Bank, Home Bancorp, RBB Bancorp, TrustCo Bank Corp, Gamble Co, Verizon Communications, 3M Company, General Electric Co, GE, RTX Corporation, Halliburton Company, HAL, Lockheed, Ericsson, Bank, GATX Corporation, MakeMyTrip, National Bancorp, Synchrony, Webster, Atlantic Union Bankshares Corporation, Invesco PLC, Peoples Bancorp Inc, Sandy Spring Bancorp, Netflix, Texas Instruments Incorporated, Steel Dynamics, Canadian National Railway Company, NBT Bancorp, East West Bancorp, Covenant Logistics Group, Inc, Hanmi, National Bank Holdings Corporation, Premier Financial, QCR Holdings, Renasant Corporation, Triumph, Veritex Holdings, ASML, SAP, Textron, Oriental Education, Technology Group, First BanCorp, General Dynamics, OFG Bancorp, Prosperity, TE Connectivity, United Community, Blue Foundry Bancorp, Capitol Federal, HBT, Teledyne Technologies, Business Machines, IBM, Las Vegas Sands Corp, Lam Research, United Rentals, Berkley Corp, Crown, International, Packaging Corporation of America, Seagate Technology plc, CACI, Swift Transportation Holdings, Ameriprise Financial, Concentrix Corporation, First Bank, Liberty Energy, Pathward Financial, Columbia Banking, CSX, American Airlines Group, NextEra Energy Inc, Alaska Air Group, Dow Chemical Co, Valero Energy, Southwest Airlines Co, Nextera Energy, Williams Co, Union Pacific, Applied Industrial Technologies, Mobileye, Northrop Grumman, Comcast, Nokia, TAL Education, McCormick & Company, Intel, Visa Inc, Gallagher, Co, KLA Corporation, Western Alliance, Mobile, L3Harris Technologies, Western, Olin Corporation, American Express Co, Booz, Booz Allen Hamilton Holding, Colgate, Palmolive Co, Norfolk Southern Corporation, Jim Cramer's Charitable, CNBC, Gamble's Locations: Procter &, U.S, China, ZION, Freeport, Kimberly, Las, W.R, Chicago

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

☆ 10 best ways to use Chase points for travel
▼ + stars: | 2023-11-29 | by ( Jennifer Yellin | Andrew Kunesh | ) edition.cnn.com time to read: +23 min

The Chase Sapphire Reserve and Chase Sapphire Preferred cards are currently offering 75,000 bonus points after you spend $4,000 in the first three months of account opening. These cards earn Chase Ultimate Rewards® points which are some of the most valuable and flexible travel rewards points out there. But before you apply, let’s take a look at some of the best ways to redeem Chase Ultimate Rewards points for travel. Best ways to redeem Chase Ultimate Rewards pointsYou can book KLM business class by transferring Chase points to Air France-KLM Flying Blue. Use the Chase Travel portal to book any flightBook flights on any airline with the Chase Travel portal.

Persons: , you’ve, Air Canada Aeroplan, Chase, Kyle Olsen, —, Holly Johnson, Ziva, Eliyahu Parypa, that’s, that’ll, You’ll, you’ll, United Chase, MileagePlus, Aeroplan, Singapore Airlines KrisFlyer, it’s, you’re Organizations: CNN, American Express, Chase Sapphire, Chase, Hyatt, United MileagePlus, Air Canada, Chase Travel, KLM, Air France, Blue, CNN, United Airlines, Aer Lingus AerClub Air Canada Aeroplan Air France, KLM Flying Blue British Airways Executive Club Emirates, JetBlue, Singapore Airlines, Rapid, United, Virgin Atlantic Flying, redemptions, you’ll, Southwest Airlines, British Airways, Images British Airways, Oneworld, Alaska Airlines, American Airlines, British Airways Executive Club, British Airways Executive, Miami . British Airways, British, Air Canada's, Air, Star Alliance, Minneapolis . Air, Midwest, Singapore Airlines ’, Aloha State, Iberia Airlines, Iberia Avios, Sapphire, Virgin Points, All Nippon Airways, All Nippon Airways One, Virgin Atlantic, ANA, Virgin, Virgin Atlantic Virgin Points Delta Air, Virgin Atlantic Virgin, Delta Air Lines, Chase Sapphire Reserve, Ink Locations: United, Japan, Iberia, Mexico, Bay, Jamaica, Cancun, Chicago, New York, United States, Caribbean, Washington, American, Alaska, Atlanta, Miami, Minneapolis, Minneapolis . Air Canada, Newark, Fort Lauderdale, Hawaii, East, Aeroplan, United Airlines, iStockphoto Hawaii, Los Angeles, Kona, Spain, Europe, United Kingdom, Madrid, Barcelona, Boston, Iberia Iberia, San Francisco, Tokyo, Amsterdam, Rome, Paris, Delta

DALLAS (AP) — Southwest Airlines' third-quarter profit fell 30% to $193 million despite record revenue as leisure travel boomed over the summer. The airline's labor costs rose sharply, however, more than offsetting the increase in revenue. Shares of Southwest Airlines Co. slid nearly 5% before the opening bell. That helped the airline last year, but international travel has been stronger this year, boosting other airlines more than Southwest. All of the airlines face higher labor costs, but unlike its three closest rivals, Southwest has not reached agreement with its pilots on a new labor contract.

Persons: Robert Jordan Organizations: DALLAS, Airlines, Southwest, Southwest Airlines Co, Revenue, Labor Locations: United States, Southwest

AdvertisementAdvertisementYou can get Southwest's Companion Pass by earning 135,000 Rapid Rewards points within a year — and this credit card bonus will get you more than halfway there. This elevated welcome bonus is available on all three personal credit cards:AdvertisementAdvertisementThe Southwest Rapid Rewards® Priority Credit CardThe Southwest Rapid Rewards® Premier Credit CardAnd the Southwest Rapid Rewards® Plus Credit Card. Southwest Rapid Rewards® Plus Credit Card Apply now lock icon An icon in the shape of lock. Annual fee Insider’s Take The Southwest Rapid Rewards® Premier Credit Card is worth considering if you fly Southwest, even occasionally. Otherwise, have a look at other Southwest cards like the Southwest Rapid Rewards® Plus Credit Card and Southwest Rapid Rewards® Premier Credit Card, which have lower annual fees but the same elevated welcome bonus offer.

Persons: Nicolas Economou, Getty Images We're, —, We'll, you've, Miles, you'll Organizations: Rapid, Getty Images, Southwest, Rewards, Card, Southwest Airlines, Service, Southwest ®, FDIC, Rapid Rewards, Chase, eBay, Southwest Hotels Locations: U.S, Southwest

☆ My Family of 5 Flies for the Price of 3—Here’s How
▼ + stars: | 2023-10-08 | by ( Jason Steele | ) www.wsj.com time to read: +5 min

From our home in Denver, my wife, three kids and I often travel to visit family in Florida, California, Georgia and New York. And when I travel for work as a professional credit card reviewer and consultant, I often bring a kid or two along. My path to companion pass bliss came through Southwest credit cards, such as the Southwest Rapid Rewards Priority Credit Card, but frequent flights can also get you there. As our family grew, my wife also began earning a Companion Pass, allowing the whole family to travel at a steep discount. For example, the Southwest Rapid Rewards Priority Credit Card offers 50,000 bonus points when you spend just $1,000 in the first three months.

Persons: Jason Steele Organizations: Southwest Airlines, Rapid, Southwest, Alaska Airlines, Alaska Airlines Visa Credit, Delta, American, Southwest Rapid Locations: Denver, Florida , California, Georgia, New York, Puerto Rico, Hawaii, Mexico, Caribbean, Southwest, Florida, San Antonio

Two other defendants, American Airlines (AAL.O) and Southwest Airlines (LUV.N), previously settled for a respective $45 million and $15 million. Delta and United called their seating capacity reductions a legitimate response to reduced demand, rising fuel prices and the 2008 global financial crisis. Both carriers went through bankruptcy not long before the purported conspiracy began, with United emerging in 2006 and Delta emerging in 2007. United said it was disappointed with the judge's decision, and will seek to have it reconsidered or file an appeal. Payouts will not begin until claims against Delta and United are resolved.

Persons: Doug Parker, Gary Kelly, Scott Kirby, John Laughter, Sara Nelson, Colleen Kollar, Defendants, Kotelly, United, Jonathan Stempel, Grant McCool Organizations: American Airlines Group Inc, Southwest Airlines Co, United Airlines Holdings Inc, Delta Air Lines Inc, Delta Air Lines, United Airlines, Washington , D.C, American Airlines, Southwest Airlines, U.S . Department of Justice, Passengers, United, Delta, Antitrust Litigation, District of Columbia, Thomson Locations: U.S, Washington ,, New York

☆ Southwest Airlines reaches tentative agreement with transport workers union
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +1 min

A Southwest Airlines aircraft flies past the U.S. Capitol before landing at Reagan National Airport in Arlington, Virginia, U.S., January 24, 2022. REUTERS/Joshua Roberts/File Photo Acquire Licensing RightsAug 15 (Reuters) - Southwest Airlines Co (LUV.N) said on Tuesday it had reached a tentative agreement with the union that represents about 17,120 transport workers who handle ramp, operations, provisioning and cargo. The workers will now earn $36.72 per hour, higher than the hourly wages at United Airlines Holdings (UAL.O) and Delta Air Lines Inc (DAL.N), based on the tentative agreement uploaded on Transport Workers Union Local 555's website. Recently, pilots at rival Delta Air Lines and American Airlines also reached new labor agreements with the companies, while Southwest is yet to strike a new deal with its pilots. In June, Southwest agreed to a tentative agreement with its more than 2,800 mechanics and related employees.

Persons: Joshua Roberts, Ananta agarwal, Shilpi Majumdar, Shinjini Organizations: Southwest Airlines, U.S, Capitol, Reagan National Airport, REUTERS, Southwest Airlines Co, United Airlines Holdings, Delta Air Lines Inc, Transport Workers Union, Delta Air Lines, American Airlines, Thomson Locations: Arlington , Virginia, U.S, Southwest

☆ Southwest Airlines converts some Boeing 737 MAX 7 orders to MAX 8 amid delays
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

July 28 (Reuters) - Southwest Airlines (LUV.N) has exercised options for the delivery of 30 Boeing 737 MAX 7 planes next year, and converted 24 existing MAX 7 orders to MAX 8, the company said in an SEC filing on Friday. Southwest's decision to convert some MAX 7 orders to the MAX 8 model, which is already in operation, would buffer the impact of the delivery delays. On Thursday, Southwest Airlines issued disappointing forecasts for the current quarter and full year after missing estimates for second-quarter results, fueling concerns about the strength of domestic travel demand in the United States. Southwest Airlines has plans to fly the MAX 7 "at some point next year", but if not, it would take MAX 8 orders instead, CEO Robert Jordan said on a post-earnings call on Thursday. (This story has been corrected to say Southwest, not Boeing, issued forecast on Thursday in paragraph 4)Reporting by Savyata Mishra in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Robert Jordan, Savyata Mishra, Devika Organizations: Southwest Airlines, Boeing, SEC, Federal Aviation Administration, Thomson Locations: United States, Bengaluru

☆ Southwest pilots' union lays groundwork for potential strike with labor talks at an impasse
▼ + stars: | 2023-06-29 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

A Southwest Airlines Co. plane takes off as representatives and pilots from the Southwest Airlines Pilots' Association (SWAPA) demonstrate outside Chicago Midway International Airport (MDW) in Chicago, Illinois, U.S., on Wednesday, May 18, 2016. Southwest Airlines pilots' union said Thursday it sought to be released from federal mediation for a new labor contract, laying the groundwork for a potential strike as talks with the carrier haven't yet yielded an agreement. The airline and union, the Southwest Airlines Pilots Association, have been in contract talks for more than three years and negotiations have been tense. Pilot strikes in the U.S. are extremely rare, and the Southwest Airlines Pilots Association's request does not mean that one is imminent because of procedures in U.S. labor law. There are several so-called cooling off periods should the National Mediation Board declare an impasse between Southwest and its pilots' union.

Persons: Jody R, Adam Carlisle, We've Organizations: Southwest Airlines Co, Southwest Airlines Pilots ' Association, Chicago, International, Southwest Airlines, Southwest Airlines Pilots Association, National, CNBC, Southwest, Pilots, Southwest Airlines Pilots, U.S, Spirit Airlines Locations: Chicago , Illinois, U.S, Dallas, Southwest

☆ Southwest Airlines reaches tentative agreement with mechanics' union
▼ + stars: | 2023-06-23 | by ( Yuheng Zhan | ) www.cnbc.com time to read: +3 min

Southwest Airlines said Friday that it has reached a tentative agreement with the union representing its mechanics, aircraft inspectors, maintenance controllers and training instructors. "Our Mechanics & Related Employees work around the clock to safely maintain our aircraft, and we reached a Tentative Agreement that rewards them and helps Southwest maintain an efficient operation," Adam Carlisle, vice president of labor relations at Southwest, said in a press release. The union and airline didn't immediately disclose the details of the agreement but said they would in the coming days. Earlier this month, leaders at Transport Workers Union of America 556, which represents Southwest flight attendants, said they rebuffed a tentative agreement that would have allowed for a membership vote. As Members ourselves, we are just as eager to vote on and ratify a worthy Tentative Agreement."

Persons: Adam Carlisle, didn't, Bret Oestreich, Southwest's Carlisle, – CNBC's Leslie Josephs Organizations: Southwest Airlines Co, Boeing, International, Southwest Airlines, Southwest, Aircraft Mechanics Fraternal Association's, Transport Workers Union of America, U.S, Brotherhood of Teamsters, UPS Locations: Chicago , Illinois, U.S, Southwest, Seattle

Canada's largest carrier had said earlier that an issue with its communicator system had resulted in flight delays across its system. "Air Canada’s operations are stabilizing and flights are departing," the airline said Thursday afternoon. Air Canada did not describe the specific issue but said Thursday's glitch was unrelated to the one last week. "Air Canada will continue to work with the manufacturer to ensure stability in the system in the future." "We’re now working our way back to normal operations," Spirit said in an emailed statement.

Persons: We’re, Allison Lampert, Ismail Shakil, David Shepardson, David Gregorio, Mark Porter Organizations: Air Canada, Canada, Southwest Airlines Co, Spirit Airlines, Thomson Locations: MONTREAL, Montreal, Ottawa, Washington

☆ Boeing says certification of 737 MAX 7 is taking 'considerable amount of time'
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

[1/2] Employees are pictured as the first Boeing 737 MAX 7 is unveiled in Renton, Washington, U.S. February 5, 2018. REUTERS/Jason Redmond/File PhotoCHARLESTON, South Carolina, May 31 (Reuters) - The certification of the Boeing 737 MAX 7 is taking a "considerable amount of time" due to new documentation requirements, but the company still believes it can be certified by the end of the year, a Boeing Co (BA.N) official said on Wednesday. Both the MAX 7 and MAX 10 are seen as critical for Boeing to compete against Airbus SE (AIR.PA) for orders at the top and bottom of the narrowbody markets. The planemaker is also "close" to receiving FAA approval to begin certification flights of its new 737 MAX 10, Fleming told reporters. Certification of that aircraft is still projected to occur in 2024, but will depend on when Boeing is approved to begin those flights, he said.

Persons: Jason Redmond, Mike Fleming, Boeing's, Fleming, Valerie Insinna, Richard Chang, Matthew Lewis Organizations: Boeing, REUTERS, Boeing Co, Airbus, Southwest Airlines Co, Federal Aviation Administration, Thomson Locations: Renton , Washington , U.S, CHARLESTON, South Carolina, Charleston , South Carolina

☆ Factbox: Pilots, airlines seek to strike new contracts ahead of peak travel season
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +3 min

SOUTHWEST AIRLINES CO (LUV.N):The Southwest Airlines Pilots Association (SWAPA) in May said its members at the company approved a strike mandate. It added that 98% of its members participated in the vote and 99% voted in favor of authorizing a strike. UNITED AIRLINES HOLDINGS INC (UAL.O):Last year, ALPA said 94% of the nearly 10,000 United Airlines pilots voted to reject a contract offer. SPIRIT AIRLINES INC (SAVE.N):In January, ALPA said pilots at Spirit Airlines voted to ratify a new contract. More than 97% of the union members took part in the vote and 99% of them authorized union leaders to call a strike, if needed.

☆ FedEx pilots vote in favor of strike in push for pay rise
▼ + stars: | 2023-05-17 | by ( Nathan Gomes | ) www.reuters.com time to read: +2 min

May 17 (Reuters) - Pilots of FedEx Corp's (FDX.N) air delivery unit on Wednesday voted "overwhelmingly" in favor of a strike if needed, the Air Line Pilots Association said as it enters the final stages of a contract negotiation with the company. With aviators in short supply and air travel demand booming, pilots are enjoying enhanced bargaining power, encouraging them to push for better contracts with airlines and parcel firms. More than 97% of the union members took part in the vote and 99% of them authorized union leaders to call a strike, if needed, by the pilots of FedEx Express. "We are still in productive negotiations with our pilots under the supervision of a government-appointed mediator and will return to the bargaining table next week," FedEx said in a statement. Pilots' union at Southwest Airlines Co (LUV.N) too had recently backed a strike mandate ahead of the busy summer travel season.

☆ FedEx Express pilots vote in support of strike, union says
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +2 min

May 17 (Reuters) - Pilots of FedEx Express, a unit of FedEx Corp (FDX.N), have voted "overwhelmingly" in support of a strike, the Air Line Pilots Association (ALPA) said on Wednesday. From over 97% of members who participated in the vote, 99% authorized union leaders to call a strike, if needed, to achieve a new contractual agreement with the delivery firm. FedEx pilots are currently working under contractual provisions and benefits arrived at in 2015, after negotiations for a new agreement began in 2021. Earlier this month, Southwest Airlines Co's (LUV.N) pilots union said its members had approved a strike mandate by an overwhelming majority ahead of the busy summer travel season. If either side declines, both parties enter a 30-day "cooling off" period, after which pilots and management can engage in self-help - a strike by the union or a lockout by management.

☆ US airline passengers are getting increasingly frustrated. Here’s why
▼ + stars: | 2023-05-10 | by ( Francesca Street | ) edition.cnn.com time to read: +4 min

CNN —Air travel has bounced back after its pandemic-induced slump, but that doesn’t mean passengers are feeling good about it. North American travelers are frustrated with high ticket prices, staffing shortages and reduced routes, according to consumer research company J.D. Power’s 2023 North American Airline Satisfaction Study. Unsatisfied passengersDelta Air Lines ranked number one for premium economy passengers, number two for economy passengers and number two for first class and business class travelers. American Airlines

[1/2] A woman checks the arrivals and departures board at Chicago Midway International Airport in Chicago, Illinois, U.S. April 18, 2023. REUTERS/Jim Vondruska/File PhotoNEW YORK, May 10 (Reuters) - A gloomy forecast from vacation rental firm Airbnb (ABNB.O) weighed on travel-related stocks on Wednesday as an expected slowdown in bookings signaled an impending slump in travel demand with consumers seeking cheaper accommodation amid inflation and recession fears. Airbnb's forecast will heighten caution in the travel sector, which encompasses hotels, airlines, and vacation rental firms, according to an investor note by JPMorgan analysts, led by Doug Anmuth. "We also believe Airbnb's commentary will result in increased caution in the travel space, but more specifically around vacation and the U.S.," the analysts said. Reporting by Chibuike Oguh in New York; Editing by Lance Tupper and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

☆ US airlines thrown a curveball as consumer habits change post-pandemic
▼ + stars: | 2023-05-10 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +5 min

Even as the thirst for travel remains strong, the changing trends are driving up airlines' operating costs and hurting revenue. Travel demand has also softened on days in the middle of the week, but has strengthened on peak days. Frontier Airlines (ULCC.O) decided to slash flights on Tuesdays and Wednesdays by about 20%, citing weak demand. Delta Airlines (DAL.N) reported that bookings for trips inside 30 days were declining, while those outside 30 days were stronger. Last year, it denied boarding to more customers than American Airlines (AAL.O) and United, U.S. Transportation Department data shows.

Regional bank shares stretched gains from a rebound on Friday, with PacWest Bancorp (PACW.O) jumping 33% premarket after the company announced quarterly dividend. Shares of such banks tumbled for much of last week on worries tied to the collapse of First Republic Bank. ET, Dow e-minis were up 67 points, or 0.2%, S&P 500 e-minis were up 6 points, or 0.14%, and Nasdaq 100 e-minis were down 4.25 points, or 0.03%. Data on producer prices, weekly jobless claims and on consumer sentiment are all lined up through the week. On earnings, Warren Buffett's Berkshire Hathaway Inc's Class B shares rose 1.5% after the company posting a $35.5 billion first-quarter profit, reflecting gains from stocks such as Apple.

☆ Airlines Project Profits and Packed Flights This Spring
▼ + stars: | 2023-04-27 | by ( Alison Sider | ) www.wsj.com time to read: 1 min

American Airlines reported record first-quarter revenue. Photo: Seth Wenig/Associated PressAirlines say that travel demand is picking up heading into the critical summer travel season, fueling their expectations for profits after what was in some cases a more lackluster winter. Southwest Airlines Co. reported a quarterly loss of $159 million as the impact of the airline’s winter meltdown bled into the first months of the year. The airline said it saw a $325 million hit to revenue due to cancellations of “holiday return travel” and slower bookings in January and February but said bookings turned around by March.

☆ Southwest sees 'solid' Q2 profit, flags 20 fewer jet deliveries from Boeing
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

April 27 (Reuters) - Southwest Airlines Co (LUV.N) said on Thursday it expects "solid profits" in the current quarter on strong summer bookings, and flagged 20 fewer deliveries of the MAX jets this year from Boeing Co (BA.N). Delay in MAX deliveries is expected to increase operating costs for airlines and limit their ability to meet travel demand, hitting revenue. The company expects "solid profits" in the second quarter as well as the full year, but did not provide specific numbers. Analysts polled by Refinitiv expect an adjusted profit per share of $1.05 for the second quarter and $2.73 for 2023. "Travel demand and revenue trends in March were strong and resulted in solid profitability for the month," Jordan added.

Search resuls for: "Southwest Airlines Co"

25 mentions found