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☆ How Wealthy Investors Got Rich Looting America's Needy Hospitals
▼ + stars: | 2024-03-11 | by ( Bethany Mclean | ) www.businessinsider.com time to read: +21 min

That added to the massive debt burdens already placed on the hospitals by their for-profit owners, deepening their financial woes. In January, MPT reported that its biggest tenant, a nationwide chain of 32 hospitals called Steward, could no longer pay its rent. The core idea was simple: to buy hospital real estate, pocket the lease payments, and use the money to reward investors. The more hospital real estate that MPT buys, the more money it makes in rent payments from the hospitals. But that doesn't mean that MPT's leaders didn't get rich off its hospital deals.

Persons: Leonard Green, Sherman Cahal, Rob Simone, Hedgeye, MPT, Steward —, Justin Simon, Jasper Capital, they've, Ed Aldag, Eddie Lampert's, Eileen Appelbaum, Rosemary Batt, MTP, Marc Rowan, Richard Mortell, Leonard Green couldn't, they'd, Stephen Feinberg, Ralph de la Torre, Steward, Simone, Cerberus, Chandan Khanna, That's, de la, de la Torre, la Torre, Amaral, Aldag, Apollo, Eileen O'Grady, Moody's, didn't, Sen, Chuck Grassley Organizations: Northside Regional Medical Center, Ohio Valley Medical, East Ohio Regional Hospital, Luke's Medical, Glenwood Regional Medical Center, Medical Properties Trust, Jasper, Sears, Bain Capital, Affordable, Cornell University, Business, Third Coast Real Estate Capital, Cerberus, Health Care, Boston Globe, Bloomberg, Getty, Easton Hospital, Local, de la Torre, la, MediaNews, Boston Herald, Prospect, Private, Yale New Haven Health, Yale, Apollo, MPT, SEC, Republican, Senate Finance Locations: Youngstown , Ohio, Ohio, Wheeling , West Virginia, Martins Ferry , Ohio, St, Luke's, Phoenix, Massachusetts, West Virginia, California , Pennsylvania, Texas, Pennsylvania, Louisiana, America, Alabama, MPT, Greater Boston, Steward, Easton, Lehigh, Elizabeth's, Boston, Connecticut, it's

☆ The last Sears in the New York area is closing. Just over a dozen remain in America
▼ + stars: | 2024-01-11 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Sears’ last-remaining store in the New York metro area is closing, bringing the number of Sears locations still in existence down to about a dozen. Following the shuttering of the Jersey City location, the closest Sears for the New York metro area shoppers is 227 miles away in Braintree, Massachusetts. Now, there are only just over a dozen Sears remaining in the continental US. Sears is owned by hedge fund operator Eddie Lampert’s company Transformco. Some suggest that Lampert used the Sears acquisition as a play in the real estate market.

Persons: New York CNN — Sears ’, wasn’t, Sears, Eddie Lampert’s, Lampert, Samantha Delouya Organizations: New, New York CNN, Sears, Kmart, CNN Locations: New York, Jersey City, Manhattan, Newport, Mall, New Jersey, Braintree , Massachusetts, Burbank , California, Washington

☆ Canada set to announce Boeing order for maritime patrol aircraft -source
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

A Boeing logo is seen at the company's technology and engineering center in Sao Jose dos Campos, Sao Paulo state, Brazil October 10, 2023. REUTERS/Gabriel Araujo/File Photo Acquire Licensing RightsNov 29 (Reuters) - Canada is set to announce on Thursday a multi-billion dollar sole-source contract for Boeing Co’s (BA.N) P-8 Poseidon maritime patrol aircraft to replace the country’s military surveillance planes, a senior government source familiar with the matter told Reuters. An announcement would end months of speculation and follow a challenge from Canadian private planemaker Bombardier (BBDb.TO) which called for an open competition so it could submit a bid using its large-cabin Global business jets. A draft agreement between the governments of Canada and the United States for the sale of the Poseidon aircraft and associated training and equipment is set to expire on Thursday. Boeing declined comment on Wednesday.

Persons: Sao Jose dos Campos, Gabriel Araujo, Steve Scherer, Valerie Insinna, Allison Lampert, Chris Reese, Sonali Paul Organizations: Boeing, REUTERS, Reuters, Bombardier, CP, Aurora, Poseidon, Thomson Locations: Sao Jose, Sao Paulo state, Brazil, Canada, United States, Ottawa, Washington, Montreal

☆ UN conference adopts 2030 goal on cleaner aviation fuels
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +1 min

A fuel truck fills up the Emirates Airlines Boeing 777-300ER with Sustainable Aviation Fuel (SAF), during a milestone demonstration flight while running one of its engines on 100% (SAF) at Dubai airport, in Dubai, United Arab Emirates, January 30, 2023. REUTERS/Rula Rouhana/ File photo Acquire Licensing RightsNov 24 (Reuters) - Nations at U.N.-led talks agreed on Friday an interim 2030 goal for reducing emissions from international aviation through the use of sustainable aviation fuel, but China, Russia and some others voiced reservations about the impact on their economies. Details of the agreement were not immediately made public, but a senior delegate said it called for 5% lower emissions through the use of sustainable aviation fuel (SAF) or other clean energy by 2030, compared with an earlier draft of 5-8%. The agreement, monitored by webcast, came after five days of talks hosted by the International Civil Aviation Organization in Dubai, days before a wider COP28 summit on climate change. Reporting by Allison Lampert, Tim Hepher; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Rula, Allison Lampert, Tim Hepher, Alex Richardson Organizations: Emirates Airlines Boeing, Sustainable Aviation Fuel, United Arab Emirates, REUTERS, International Civil Aviation Organization, Thomson Locations: Dubai, United Arab, U.N, China, Russia

☆ U.N.-led talks weigh goal to reduce aviation emissions thorough less-polluting fuels
▼ + stars: | 2023-11-24 | by ( Allison Lampert | ) www.reuters.com time to read: +2 min

A TotalEnergies tanker truck with sustainable aviation fuel (SAF) is pictured during the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 19, 2023. ICAO's third Conference on Aviation and Alternative Fuels (CAAF) runs this week ahead of the COP28 U.N. climate summit in Dubai, which starts on Nov. 30. CAAF delegates from more than 100 countries are debating ways to boost supply of sustainable aviation fuel (SAF) made from materials like used cooking oil. SAF is key to lowering emissions from aviation, but remains costly and in short supply. Making access to financing more readily available to developing countries, another conference goal, is needed to bolster SAF production outside of the United States and Europe.

Persons: Benoit Tessier, Haldane Dodd, CAAF, Francis Mwangi, Mwangi, Allison Lampert, Jonathan Oatis Organizations: Paris, REUTERS, United Nations, International Civil Aviation Organization, Aviation, Alternative Fuels, SAF, Air Transport Action, Kenya's Civil Aviation Authority, Thomson Locations: Le Bourget, Paris, France, Dubai, United States, Europe, Mombasa, Kenya, Montreal

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

☆ Quebec expects possible profit with planned sale of A220 jet program stake in 2030
▼ + stars: | 2023-11-20 | by ( Allison Lampert | ) www.reuters.com time to read: +2 min

[1/2] An Airbus A220-300 is seen at the Airbus facility in Mirabel, Quebec, Canada February 20, 2020. Quebec holds a 25% stake in the jet, which has faced scrutiny as Airbus struggles to contain costs on parts. Airbus has also faced delays in ramping up production toward its latest target of 14 planes per month by 2026. Airbus has said it plans to raise Mirabel production to 10 A220s a month, with four jets a month in Mobile. The planemaker created the Mobile production line for U.S. customers to avoid a trade dispute with Boeing (BA.N) when it took over the plane from Canada's Bombardier in 2018.

Persons: Christinne, Pierre Fitzgibbon, Fitzgibbon, we're, Allison Lampert, Jonathan Oatis Organizations: Airbus, REUTERS, Rights, Reuters, Quebec, Aerospace, Bombardier, Mirabel, Boeing, Mobile, Thomson Locations: Mirabel, Quebec, Canada, Airbus's, Mobile , Alabama, Mobile

☆ Airfare to leisure destinations to cost less this winter, WestJet CEO says
▼ + stars: | 2023-11-15 | by ( Allison Lampert | ) www.reuters.com time to read: +2 min

MONTREAL, Nov 15 (Reuters) - Airfare to popular international leisure destinations should cost less this winter and next summer than a year ago as carriers add capacity, the CEO of Canada's WestJet Airlines told Reuters on Wednesday. I think this winter we'll have a better supply-to-demand balance, which will give more affordability to Canadians," von Hoensbroech added. WestJet expects to fly almost half of the seats to sun destinations after acquiring leisure carrier Sunwing this year. "We see strong bookings, slightly softer than what we saw last winter," von Hoensbroech added. "I would expect next summer there would be a different demand-to-supply equation on transatlantic," von Hoensbroech said.

Persons: Canada's, Alexis von Hoensbroech, von Hoensbroech, WestJet, Von Hoensbroech, Allison Lampert, Valerie Insinna, Will Dunham Organizations: MONTREAL, WestJet Airlines, Reuters, Onex, Air Transport Association of Canada, Air Canada, Boeing, U.S . Federal Aviation Administration, Thomson Locations: Europe, Asia Pacific, Montreal, Washington

A rebound in Asia is especially important for airlines where long-haul travel makes up a bigger mix of revenue. Travel spending in Asia Pacific is set to grow 41% this year to $567 billion, and rise to $800 billion by 2027, according to data from the Global Business Travel Association. The planned capacity, which has not been previously reported, is a strong rebound from 2022, when the carrier's Asia-Pacific traffic was 33% of 2019 levels. Travel to Asia is also a source of high-margin revenue at a time when soaring labor and fuel costs are pressuring profit and domestic fares are declining. Across the border, Air Canada said the increase in Asia Pacific capacity would more than double its overall system growth.

Persons: Toby Melville, Andrew Nocella, Mark Galardo, Galardo, Raymond James, Savanthi Syth, Allison Lampert, Rajesh Kumar Singh, Ben Klayman, Matthew Lewis Organizations: Heathrow Airport, REUTERS, Rights, Carriers, Business, Global Business Travel Association, Air, Reuters, United Airlines, American Airlines, Delta Air Lines, Asia Pacific, United, Delta, Tourism Economics, Thomson Locations: London, Britain, Rights MONTREAL, CHICAGO, Asia, Pacific, Europe, Asia Pacific, U.S, United States, Atlanta, Manila, Philippines, San Francisco, New Zealand, Chicago, Air Canada, Air Canada's Vancouver, Canada, North America, Ukraine, Hong Kong, East Coast, Newark , New Jersey, Toronto, China, Montreal

☆ Airbus bullish on jet output as profits override space charge
▼ + stars: | 2023-11-09 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

Airbus declined to elaborate on the charge, which came as the planemaker formally announced a restructuring in its Defence & Space division that has been in preparation for several months. Airbus CEO Guillaume Faury stuck to his guns, however. Airbus is producing A320-family jets in the low-50s per month instead of a planned level closer to 58, they said. On the loss-making A220, Airbus reiterated plans to raise output to 14 a month. "We are working very closely with them in the spirit of supporting them, but we also expect from Spirit to well support Airbus.

Persons: Steven Udvar, Guillaume Faury, Faury, Pratt, Safran, Whitney, Chris Calio, Spirit, Patrick Shanahan, Tim Hepher, Valerie Insinna, Allison Lampert, Matt Scuffham, Sharon Singleton, Matthew Lewis Organizations: Airbus, Defence, Space, Air Lease AL.N, Pratt & Whitney, CFM, GE Aerospace, GE, Boeing, Thomson Locations: Dubai, Paris, Washington, Montreal

☆ Off-duty pilot accused of trying to disable jetliner faces first court hearing
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +3 min

An Alaska Airlines plane takes off from the airport in Calgary, Alberta, Canada July 10, 2023. Alaska Airlines (ALK.N) Flight 2059 was operated by Alaska Air Group's regional subsidiary Horizon Air, the carrier said. An FAA pilot database showed Emerson listed as a certified pilot who received a medical clearance last month. Aviators are expected to self-report any mental health conditions, two U.S. pilots told Reuters. The FAA told airlines in a separate notice on Monday the incident "is not connected in any way, shape or form to current world events" but said it is "always good practice to maintain vigilance."

Persons: Todd Korol, Joseph David Emerson, Emerson, Adam Silverthorne, David Shepardson, Allison Lampert, Steve Gorman, Chizu Nomiyama, Jonathan Oatis, Jamie Freed Organizations: Alaska Airlines, REUTERS, Federal Aviation Administration, FAA, Alaska Air Group's, Horizon Air, U.S, Reuters, Embraer, Aviators, The Air Line Pilots Association, NRI Flying Club, NRI, FBI, Thomson Locations: Alaska, Calgary , Alberta, Canada, Pacific Northwest, Portland , Oregon, Portland, Everett , Washington, San Francisco, Multnomah County, North America, California

☆ Canadian pilots eye higher-paid U.S. cockpits amid staffing shortages
▼ + stars: | 2023-09-05 | by ( Allison Lampert | ) www.reuters.com time to read: +3 min

Some 147 Canadian pilots applied for licenses to fly commercial jets in the United States in 2022, up from 39 in 2021, according to Federal Aviation Administration (FAA) data. High travel demand in the United States, where pilots are securing historic wage increases, isattracting foreign aviators, despite delays and high costs of immigrating, according to lawyers, unions and pilots. While small, the increase in U.S. applications is worrisome for regional Canadian carriers, which like their U.S. counterparts, are wrestling with staffing shortages as they lose pilots to larger airlines, industry experts say. It could also put pressure on Air Canada (AC.TO) during negotiations with its pilots, whose contract expires on September 29. Air Canada pilots earned more before 2013.

Persons: F, Andrew Kelly, John Gradek, Mark Taylor, Taylor, Sunwing, Attorney Jean, Francois Harvey, he's, Gradek, John McKenna, Allison Lampert, Andy Sullivan Organizations: Kennedy International Airport, REUTERS, Rights, Federal Aviation Administration, FAA, Air Canada, McGill University, Sunwing Airlines, WestJet Airlines, Air, Air Line Pilots Association, United Airlines, Air Transport Association of Canada, Thomson Locations: Queens , New York City, U.S, United States, Canada, Calgary, Montreal, Canada's, Attorney, Air Canada

Brazil's Center for Research and Prevention of Aeronautical Accidents (CENIPA), in the interests of improving aviation safety, had said it would join a Russian-led investigation if it were invited and the probe held under international rules. U.S. aviation safety consultant and former investigator John Cox said an internal Russian investigation would always be questioned without the participation of Brazil, the country where the plane was manufactured. "I think it hurts the transparency of the Russian investigation." In air crash investigations, experts work to improve aviation safety without assigning blame, but probes are often tainted by political interests. Jeff Guzzetti, a former U.S. air crash investigator, said Russia should accept assistance from Brazil, even if CENIPA can only participate remotely.

Persons: Wagner, Yevgeny Prigozhin, Anton Vaganov, Prigozhin, Vladimir Putin's, Marcelo Moreno, John Cox, Cox, CENIPA, Jeff Guzzetti, Allison Lampert, Gabriel Araujo, Valerie Insinna, Denny Thomas, Grant McCool Organizations: Police, REUTERS, SAO PAULO, Embraer, EMBR3, Reuters, Wagner Group, Brazil's Center for Research, Aeronautical, United Nations International Civil Aviation Organization, Interstate Aviation Committee, Accident Investigation, U.S ., Convention, International Civil Aviation, Thomson Locations: Tver, Russia, MONTREAL, SA, Moscow, Russian, Ukraine, Montreal, St Petersburg, Brazil, U.S, Sao Paulo, Washington

A cameraman films wreckage of the private jet linked to Wagner mercenary chief Yevgeny Prigozhin near the crash site in the Tver region, Russia, August 24, 2023. U.S. aviation safety consultant and former investigator John Cox said an internal Russian investigation would always be questioned without the participation of Brazil, the country where the plane was manufactured. "I think it hurts the transparency of the Russian investigation." In air crash investigations, experts work to improve aviation safety without assigning blame, but probes are often tainted by political interests. Jeff Guzzetti, a former U.S. air crash investigator, said Russia should accept assistance from Brazil, even if CENIPA can only participate remotely.

Persons: Wagner, Yevgeny Prigozhin, Marina, Prigozhin, Vladimir Putin's, Marcelo Moreno, John Cox, Cox, CENIPA, Jeff Guzzetti, Allison Lampert, Gabriel Araujo, Valerie Insinna, Denny Thomas, Grant McCool Organizations: REUTERS, SAO PAULO, Embraer, EMBR3, Reuters, Wagner Group, Brazil's Center for Research, Aeronautical, United Nations International Civil Aviation Organization, Interstate Aviation Committee, Accident Investigation, U.S ., Convention, International Civil Aviation, Thomson Locations: Tver, Russia, MONTREAL, SA, Moscow, Russian, Ukraine, Montreal, St Petersburg, Brazil, U.S, Sao Paulo, Washington

Firefighters work amid aircraft wreckage at an accident scene following the crash of a private jet in the Tver region, Russia, August 23, 2023. Yevgeny Prigozhin, chief of Russian private mercenary group Wagner, was reportedly listed as a passenger on a private jet which crashed north of Moscow on August 23, 2023. Within about 30 seconds, the aircraft had plummeted more than 8,000 feet from its cruising altitude of 28,000 feet. “Whatever happened, happened quickly,” Petchenik said. “They may have been wrestling (with the aircraft) after whatever happened," Petchenik said.

Persons: Yevgeny Prigozhin, Wagner, Prigozhin, ”, Ian Petchenik, ” Petchenik, “, Petchenik, Flightradar24, Valerie Insinna, Allison Lampert, Gabriel Araujo, Caroline Pulice, Cynthia Osterman Organizations: Acquire, Embraer, EMBR3, ”, Reuters, planemaker Embraer SA, Russia, Thomson Locations: Tver, Russia, Moscow, St . Petersburg, Kuzhenkino, Tver Region, Flightradar24, Russian, Belarus, Washington, Montreal, Sao Paulo, Mexico City

Russian authorities said Prigozhin was listed as a passenger on a private jet that crashed on Wednesday evening, killing all those onboard. Russia's TASS news agency said the plane was a Brazilian Embraer jet. Embraer (EMBR3.SA) on Wednesday said it was aware of a Legacy 600 plane crash in Russia, but that did not have further information about the case. Flightradar24 online tracker showed that the Embraer Legacy 600 (plane number RA-02795) said to be carrying Prigozhin had dropped off the radar at 6:11 p.m. local time (1511 GMT). The Legacy 600 entered service in 2002, according to International Aviation HQ, with almost 300 produced until production ceased in 2020.

Persons: Denis Balibouse, Wagner, Yevgeny Prigozhin, Prigozhin, Allison Lampert, Gabriel Stargardter, Rosalba O'Brien, Josie Kao Organizations: Embraer, European Business Aviation Convention, REUTERS, International Aviation, Russia's TASS, Brazilian Embraer, EMBR3, Thomson Locations: Geneva, Switzerland, Russia, Brazilian, Brazil, United States

☆ US airline pilots fight their unions to increase retirement age
▼ + stars: | 2023-08-22 | by ( Rajesh Kumar Singh | Allison Lampert | ) www.reuters.com time to read: +7 min

Increasing the age limit by two years would also align pilot retirement with the minimum federal retirement age, allowing them to receive full social security benefits. But the specific question of increasing the retirement age to 67 was never brought to the floor for a vote. “This is a coup by junior pilots against senior pilots,” said Allen Baker, who retired as a United Airlines pilot in June. Dennis Tajer, a spokesman for American Airlines pilots union, said pilots seeking higher retirement age want to keep earning longer. But United Airlines CEO Scott Kirby has said lifting the retirement age would not solve the pilot shortage.

Persons: Bo Ellis, F, Andrew Kelly ALPA, Ellis, ALPA, ”, “, ” ALPA, Rick Redfern, Savanthi Syth, Raymond James ., Dan Carr, Carr, Allen Baker, Baker, Dennis Tajer, Jason Ambrosi, Barry Biffle, Scott Kirby, Jonathan Ornstein Organizations: Reuters, Air Line Pilots Association, Kennedy International Airport, REUTERS, U.S . Congress, Regional Airline Association, Southwest Airlines, Air, Mesa, MESA, United Airlines, United, U.S . Senate, Raymond James . JUNIOR, American Airlines, Frontier Airlines, International Air Transport Association Locations: Queens , New York City, U.S, Delta, United, Redfern, Canada, Japan, Australia, Mesa

Increasing the age limit by two years would also align pilot retirement with the minimum federal retirement age, allowing them to receive full social security benefits. But the specific question of increasing the retirement age to 67 was never brought to the floor for a vote. "This is a coup by junior pilots against senior pilots," said Allen Baker, who retired as a United Airlines pilot in June. Dennis Tajer, a spokesman for American Airlines pilots union, said pilots seeking higher retirement age want to keep earning longer. But United Airlines CEO Scott Kirby has said lifting the retirement age would not solve the pilot shortage.

Persons: F, Andrew Kelly, Bo Ellis, ALPA, Ellis, Rick Redfern, Savanthi Syth, Raymond James ., Dan Carr, Carr, Allen Baker, Baker, Dennis Tajer, Jason Ambrosi, Barry Biffle, Scott Kirby, Jonathan Ornstein, Rajesh Kumar Singh, Allison Lampert, Ben Klayman, Grant McCool Organizations: Pilots, Kennedy International Airport, REUTERS, Air Line Pilots Association, U.S . Congress, Regional Airline Association, Southwest Airlines, Reuters, Mesa, MESA, United Airlines, United, U.S . Senate, Raymond James . JUNIOR, American Airlines, Frontier Airlines, International Air Transport Association, Thomson Locations: Queens , New York City, U.S, Redfern, Canada, Japan, Australia, Chicago, Montreal

☆ American Airlines pilots approve new contract that boosts compensation by more than 46%
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

The Allied Pilots Association (APA), which represents 15,000 pilots at the Texas-based carrier, said on Monday that 72.7% of the pilots voted for the deal which will result in an immediate pay raise of more than 21%. Overall, compensation for pilots at the airline will rise by more than 46% during the contract's duration. With no letup in travel demand, airlines are in a rush to staff up, bolstering the bargaining power of pilots. Rival United Airlines (UAL.O) last month announced a preliminary deal for a new four-year contract that would give its pilots a cumulative increase of 34.5%-40.2% in pay. American's contract includes about $1.1 billion in immediate, one-time payments and ratification bonuses.

Persons: Brian Snyder, Ed Sicher, Sicher, Rajesh Kumar Singh, Allison Lampert, Matthew Lewis Organizations: American Airlines, Airport, REUTERS, Rights, Allied Pilots Association, Allied Pilots, Reuters, Jefferies, U.S, Rival United Airlines, Thomson Locations: Boston , Massachusetts, U.S, Texas, Chicago, Montreal

But that can take time, analysts say, since airlines must manually override automated systems that raise fares in the case of higher demand. Here is a look at how airlines deal with a sudden surge in demand on a particular route. DISASTERS VERSUS HIGH DEMANDAirlines set a range of ticket prices based on factors like purchase timing and demand. They then allocate seats to each fare, explained Chris Amenechi, founder of startup SeatCash, which offers subscribers a product that predicts future flight prices. Travel site Expedia Group (EXPE.O) said air partners set flight prices and availability on its site.

Persons: Chris Helgren, Chris Amenechi, ”, Amenechi, Robert Mann, Mann, Allison Lampert, Doyinsola, Denny Thomas, Josie Kao Organizations: REUTERS, Air Canada, HIGH, CAP, Air, Expedia, Airlines, WestJet Airlines, U.S, Amtrak, Thomson Locations: Okanagan, West Kelowna, British Columbia, Canada, Yellowknife, Air Canada, Calgary, Maui, Honolulu, U.S, Washington, New York

REUTERS/John Sommers II/File Photo Acquire Licensing RightsAug 18 (Reuters) - Air cargo enjoyed record demand when COVID-19 closed borders and snarled supply chains. Now, it is reeling from overcapacity and tumbling freight rates as the freight boom makes a hard landing. Passenger jets grounded during the health crisis are flying again and bringing their lower-deck cargo space, which competes with dedicated air freighters, back into play. The Florida-based carrier cited "the unyielding and rapidly mounting macro-economic headwinds that plagued the entire air cargo transportation sector starting in late 2022". In June, air cargo experienced the slowest contraction since February 2022, the International Air Transport Association said.

Persons: John Sommers, Xeneta, they're, Peter Sand, we're, Sand, planemakers, Eddy Pieniazek, expective, Pieniazek, Robert, Tim Hepher, Lisa Bartlein, Allison Lampert, Valerie Insinna, Barbara Lewis Organizations: Parcel Service, UPS, REUTERS, Air, Reuters, Western Global Airlines, Japan Airlines, Xeneta, International Air Transport Association, Ishka, Cathay, HK, Boeing, Airbus, Aeronautical Engineers, Thomson Locations: Louisville , Kentucky, Delaware, Florida, China, Asia, United States, Miami

Smoke hangs in the air on the outskirts of Yellowknife after a state of emergency was declared due to the proximity of a wildfire in Yellowknife, Northwest Territories, Canada August 16, 2023. "We have put in place a cap on our fares for non-stop flights out of Yellowknife," said Air Canada, the country's largest carrier, in a statement. Air Canada said it has cancelled flights out of Yellowknife on Saturday to comply with the evacuation order given by the Northwest Territories government. This is how Air Canada plans on helping?" Canada's Transport Minister Pablo Rodriguez will be speaking with Air Canada today to receive an update on the situation on the ground, a spokesperson said.

Persons: Smoke, Pat Kane, WestJet, Pablo Rodriguez, Allison Lampert, Ismail Shakhil, Josie Kao Organizations: REUTERS, Air Canada, WestJet Airlines, Canada's, . Air, Northwest Territories, Air, Facebook, Thomson Locations: Yellowknife, Northwest Territories, Canada, Canadian, Calgary, . Air Canada, Air Canada, Montreal, Ottawa

☆ Aldi is buying 400 Winn-Dixie and Harveys supermarkets
▼ + stars: | 2023-08-16 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +4 min

New York CNN —Grocery shoppers in the Southeast can expect to see more Aldi stores starting 2024. Some of the nearly 400 Winn-Dixie locations Aldi is acquiring will keep the familiar red-and-white Winn-Dixie branding and traditional store layout, but many will convert to Aldi’s brand and bare-bones store format. The acquisition – which includes Harveys Supermarket – will add locations across Alabama, Florida, Georgia, Louisiana and Mississippi to Aldi’s portfolio. Winn-Dixie and Harveys Supermarket had long been staples in the Southeast region. Aldi has not disclosed how many of the Winn-Dixie and Harveys stores it plans on converting, or how much the deal cost.

Persons: Winn, Jason Hart, Aldi, Dixie, Neil Saunders, ” Saunders, ” Hart, Kroger, it’s, Phil Lempert, Lampert, “ that’s, ” Lempert, “, ” Lampert, Saunders Organizations: New, New York CNN, Aldi, Winn, Dixie, Harveys, Southeastern Grocers, Fresco Retail, Albertsons, Publix, Sunshine State Locations: New York, Alabama , Florida, Georgia, Louisiana, Mississippi, Florida, United States, Southeast, “, Aldi, Winn, Sunshine

☆ Wheels Up flies for now, but private-jet rivals see opportunity
▼ + stars: | 2023-08-16 | by ( Allison Lampert | ) www.reuters.com time to read: +4 min

Wheels Up avoided a possible bankruptcy when it secured backing from investors on Tuesday, including U.S. carrier Delta Air Lines (DAL.N). Two operators have closed down since May in the face of diminished traffic and higher labor costs could force some private-jet operators out of business. While private flying remains above 2019 levels, traffic has slowed since the pandemic, when wealthy passengers sought to avoid crowded commercial airports. The company, which provided third-party flying service to Wheels Up, faces a lawsuit from Wheels Up over a contract dispute. Jamie Walker, chairman of U.S. private jet operator Jet Linx, said he sees opportunity for both organic growth and acquisitions due to the softening marketplace.

Persons: Brian Foley, Foley, Jim Segrave, Uber, Dynamics's, Canada's, Travis Kuhn, Justin Crabbe, Andrew Collins, Jamie Walker, Linx, " Walker, Allison Lampert, Ben Klayman, Andy Sullivan Organizations: Delta Air Lines, Rivals, Gulfstream, Canada's Bombardier, U.S, Argus, North, Thomson Locations: U.S, New York, Miami, North Carolina, Montreal

☆ Air Canada beats quarterly profit estimates, flags strong demand
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +3 min

An Air Canada airplane is towed along a runway at Toronto Pearson Airport in Mississauga, Ontario, Canada April 28, 2021. Air Canada pilots anticipate sitting down for labor talks with the carrier in the next couple of weeks, a union official said. Montreal-based Air Canada said it expects to grow available seat mile capacity for 2023 by 21% compared with a year earlier. For the quarter ended June 30, Air Canada reported adjusted net income of C$664 million ($493.97 million), or C$1.85 per diluted share. In May, Air Canada said it expected CASM of about 0.5% to 2.5% below 2022 levels.

Persons: Carlos Osorio, Charlene Hudy, Hudy, Mike Rousseau, Shivansh Tiwary, Allison Lampert, Devika Syamnath, Frances Kerry, Elaine Hardcastle, Jonathan Oatis Organizations: Air Canada, Toronto Pearson Airport, REUTERS, North, Air Canada Pilots Association, Canadian, Air, Thomson Locations: Toronto, Mississauga , Ontario, Canada, U.S, Montreal, Air Canada, Bengaluru

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