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☆ United Airlines announces JV to develop sustainable fuel using ethanol
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +1 min

[1/2] A United Airlines passenger jet takes off with New York City as a backdrop, at Newark Liberty International Airport, New Jersey, U.S. December 6, 2019. REUTERS/Chris Helgren//File PhotoJan 31 (Reuters) - United Airlines Holdings Inc (UAL.O) on Tuesday announced a new joint venture to develop and commercialize a sustainable aviation fuel (SAF) technology that will use ethanol as a feedstock. Blue Blade Energy, the JV formed by United Airlines, energy infrastructure company Tallgrass and biorefiner Green Plains Inc (GPRE.O), will see an investment of up to $50 million. The JV will provide up to 135 million gallons of ethanol-based SAF annually, and up to 2.7 billion gallons in total under an offtake agreement, United Airlines said. The JV expects to proceed with the construction of a pilot plant in 2024, followed by a full-scale facility that could begin commercial operations by 2028, United Airlines said.

☆ United Airlines technicians vote to ratify new contract
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

Jan 30 (Reuters) - United Airlines Holdings Inc (UAL.O) technicians ratified a two-year contract with the carrier that includes 16% to 23% wage increases, their union said on Monday. International Brotherhood of Teamsters, representing around 8,200 United Airlines technicians said the two-year contract would provide for improved job security by adding five heavy maintenance lines in-house. It includes a one-year early opener that allows for bargaining on a successor agreement to begin in December 2023. United Airlines did not immediately respond to a Reuters request for comment. Reporting by Kannaki Deka in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Southwest Airlines forecasts first-quarter loss on cancellations impact
▼ + stars: | 2023-01-26 | by ( Kannaki Deka | ) www.reuters.com time to read: +2 min

Southwest, which also reported a loss in the fourth quarter, said it expects a revenue hit of between $300 million and $350 million in the first quarter. "Thus far in January 2023, the company has experienced an increase in flight cancellations and a deceleration in bookings, primarily for January and February 2023," Southwest said. Operating revenue for the March quarter, when travel demand tends to slow, is expected to rise 20% to 24% year-over-year. On the other hand, expenses surged nearly 30% to $6.56 billion, in part due to the impact from cancellations. For 2023, Southwest has forecast "solid profits" with year-over-year margin expansion.

A reading from the Commerce Department showed retail sales fell 1.1% in December, compared with expectations of a 0.8% drop. Another report showed U.S. producer prices rose less than expected year-on-year in December, adding to evidence of a moderation in inflation. Earnings from big U.S. banks were a mixed bag, with many stockpiling rainy-day funds preparing for a looming recession. Shares of other major carriers including American Airlines Group Inc (AAL.O), Delta Air Lines Inc (DAL.N) and Southwest Airlines Co (LUV.N) rose between 1.6% and 2.2%. IBM Corp (IBM.N) slipped 1.5% after Morgan Stanley downgraded the company's shares to "equal weight" from "overweight", citing slowing revenue growth.

☆ United Airlines’ Profit Lifted by Strong Demand for Air Travel
▼ + stars: | 2023-01-18 | by ( Alison Sider | ) www.wsj.com time to read: 1 min

United Airlines said it earned a profit of $843 million in the fourth quarter. United Airlines Holdings Inc. reported stronger than expected fourth quarter profit as consumers continued to shell out for airline tickets despite broader economic worries. Demand for air travel is still outpacing the industry’s ability to meet it, airline executives have said, citing delayed plane deliveries, training backlogs and other constraints that have slowed airlines’ growth. That has helped keep airplane seats packed and fares relatively high.

A reading from the Commerce Department showed retail sales fell 1.1% in December against expectations of a 0.8% drop, while a separate report showed producer prices declined more than expected in December. Traders' bets of a 25-basis point rate hike rose after the data, while U.S. 10-year Treasury yields fell to a four-month low. Analysts now expect year-over-year earnings from S&P 500 companies to decline 2.6% for the quarter, according to Refinitiv data, compared with a 1.6% decline in the beginning of 2023. Among major S&P 500 sectors, consumer discretionary stocks (.SPLRCD) were up 1%, leading gains. U.S. stock markets have started 2023 on a strong footing on hopes that a moderation in inflationary pressures could give the Fed cover to dial down the size of its interest rate hikes.

☆ Futures slip ahead of Goldman, MS earnings as China data hits sentiment
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures down: Dow 0.18%, S&P 0.22%, Nasdaq 0.31%Jan 17 (Reuters) - U.S. stock index futures started the week lower ahead of quarterly results from Goldman Sachs and Morgan Stanley, with downbeat economic data from China denting investor sentiment globally on Tuesday. Goldman Sachs (GS.N) and Morgan Stanley (MS.N) were set to wrap up a mixed season for big bank earnings with their fourth-quarter results due before the bell. Analysts expect year-over-year earnings from S&P 500 companies to decline 2.2% for the quarter, according to Refinitiv data as of Friday. The S&P 500 (.SPX) and the Nasdaq (.IXIC) indexes closed at one-month highs on Friday, with the former up 4.2% so far in 2023. ET, Dow e-minis were down 61 points, or 0.18%, S&P 500 e-minis were down 9 points, or 0.22%, and Nasdaq 100 e-minis were down 35.5 points, or 0.31%.

☆ Startups Want to Help Airlines Prevent Tech Meltdowns
▼ + stars: | 2023-01-14 | by ( Belle Lin | ) www.wsj.com time to read: +7 min

Airlines should take advantage of new cloud-based tools, industry consultants said, to help prevent the recent snafus brought on by the use of antiquated and siloed technology at Southwest Airlines Co. and the Federal Aviation Administration. Photo: JIM VONDRUSKA/REUTERSSanta Clara, Calif.-based Couchbase Inc., founded in 2011, said it helped United Airlines Holdings Inc. modernize its operations by providing a cloud-based database for its crew-scheduling software. United declined to comment on its operations technology. Airlines generate a massive amount of data every year from their aircraft, passengers, suppliers and internal operations. Gurobi Optimization LLC, a company that develops mathematical-optimization software for industries including aviation, said it provides optimization technology for airlines such as Air France-KLM.

Major carriers such as United Airlines Holdings Inc (UAL.O), American Airlines Group Inc (AAL.O), Delta Air Lines Inc (DAL.N) and Southwest Airlines Co (LUV.N) have rushed to add staff after a faster-than-expected rebound in the U.S. travel market. "Margins are set to take a hit in 2023 as airlines ratify new contracts with labor groups," Cowen analyst Helane Becker said last month. "Delta's recent tentative pilot agreement, assuming it is ratified, could drive incremental unit costs higher by ~2%, and 2%-3% higher for American, Southwest and United," Barclays analyst Brandon Oglenski said on Wednesday. American Airlines on Thursday forecast a higher fourth-quarter profit as the Texas-based carrier benefited from strong demand for travel during the key holiday season. Shares of American Airlines, Delta Air Lines, United Airlines and Southwest Airlines fell between 14% and 30% in 2022 on mass cancellations and economic worries.

☆ Some Airlines Have Instituted a Fare Cap, but Don’t Expect a Deal
▼ + stars: | 2022-12-29 | by ( Jacob Passy | ) www.wsj.com time to read: 1 min

Several large airlines say they are capping fares in the wake of the Southwest Airlines Co. meltdown, but that doesn’t mean stranded travelers should expect to find airfare deals. Multiple carriers—including Delta Air Lines Inc., American Airlines Group Inc. and United Airlines Holdings Inc.—said they would put a cap on fares to accommodate travelers making last-minute bookings after Southwest Airlines canceled nearly 16,000 flights since Dec. 22.

☆ United Airlines assessing demand before adding flights to China
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: 1 min

Dec 27 (Reuters) - U.S. carrier United Airlines Holdings Inc (UAL.O) said on Tuesday it is currently evaluating the market demand and operating environment to determine when to resume additional flight operations to mainland China. China will stop requiring inbound travelers to go into quarantine from Jan. 8, the National Health Commission (NHC) said late on Monday. United currently operates four-times-weekly service between San Francisco and Shanghai. Reporting by Kannaki Deka in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ United Airlines Close to Deal for Dozens of Boeing 787 Dreamliners
▼ + stars: | 2022-12-02 | by ( Andrew Tangel | Benjamin Katz | ) www.wsj.com time to read: 1 min

United Airlines Holdings Inc. is close to a deal to order dozens of Boeing Co. 787 Dreamliners, people familiar with the matter said. An agreement between the Chicago-based carrier and Boeing could be completed as soon as this month, some of these people said.

☆ How Elon Musk’s Twitter Faces Mountain of Debt, Falling Revenue and Surging Costs
▼ + stars: | 2022-11-21 | by ( Mark Maurer | ) www.wsj.com time to read: +10 min

Elon Musk says his $44 billion Twitter takeover might result in a bankruptcy filing. To make the deal work, Mr. Musk has been trying to add subscription revenue and reassure advertisers about the platform’s future. What’s more, the company’s debt stack now includes floating-rate debt, meaning that interest costs are set to rise as the Federal Reserve continues to increase interest rates. Twitter’s credit ratings, which were below investment grade before the transaction with Mr. Musk, have deteriorated further. For that, Mr. Musk would need to persuade potential investors that he has a viable long-term business plan, he said.

☆ United Airlines Advances 5% Pay Raise for Pilots
▼ + stars: | 2022-11-11 | by ( Alison Sider | ) www.wsj.com time to read: 1 min

United will implement the raise in December, an airline official wrote in a message to pilots. United Airlines Holdings Inc. is giving pilots a 5% pay raise months ahead of schedule as the airline and its pilots union have struggled to come to terms on a new contract. United had promised during the Covid-19 pandemic that it would boost pilots’ pay once the airline started earning consistent profits again—a provision that was included in a broader agreement between the airline and its pilots union, aimed at preventing furloughs at a time when travel demand was still languishing and the airline was losing money.

☆ Oreo maker Mondelez pulls ads off Twitter, citing hate speech -CEO
▼ + stars: | 2022-11-08 | by ( Jessica Dinapoli | Thomson Reuters | New York-Based Reporter Covering U.S. Consumer Products Spanning Paper Towels To Packaged Food | ) www.reuters.com time to read: +1 min

"What we’ve seen recently since the change on Twitter has been announced, is the amount of hate speech increase significantly," Van de Put said. Twitter last week laid off half its workforce as advertisers pulled spending amid concerns about content moderation. Twitter, which has lost many members of its communications team, did not immediately respond to a request for comment. Van de Put added that Mondelez, which makes Cadbury and Milka chocolates, is expecting a strong holiday season. Reporting by Jessica DiNapoli in New York Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ United Airlines suspends ad spending on Twitter
▼ + stars: | 2022-11-05 | by ( ) www.reuters.com time to read: 1 min

Nov 4 (Reuters) - United Airlines Holdings Inc (UAL.O) joined the list of companies that are suspending ad spending on Twitter, a United spokeswoman confirmed late on Friday. Major brands such as General Mills Inc (GIS.N) and luxury automaker Audi of America said on Thursday they have paused advertising on Twitter, days after the social media platform was acquired by billionaire Elon Musk for $44 billion. Reporting by Rhea Binoy in Bengaluru and David Shepardson in Washington; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Pilots Are Frustrated With Airlines, Too
▼ + stars: | 2022-11-03 | by ( Alison Sider | ) www.wsj.com time to read: 1 min

Contract talks between the biggest U.S. carriers and their pilots’ unions have turned acrimonious in recent weeks, with pilots saying the summer disruptions have left them as frustrated as passengers. Airline employees have been picketing at airports for months. The board of the Allied Pilots Association, which represents pilots at American Airlines Group Inc., on Wednesday voted down a proposal for a two-year contract that would have boosted pilot pay by about 20% over that time. Delta Air Lines Inc. pilots overwhelmingly voted this week to let union leaders call a strike if they decide it is necessary—a vote that is largely symbolic for now but reflects pilots’ frustration with what they see as stalled progress. United Airlines Holdings Inc. pilots rejected an unpopular agreement its union struck earlier this year.

"That probably won't be coming until we start to see some weakness in the labor market, which is helping fuel inflation pressures." Apple Inc (AAPL.O) fell 1.3% in premarket trading after a report of iPhone 14 Plus production cut within weeks of starting shipments. Other growth stocks including Tesla Inc (TSLA.O), Amazon.com (AMZN.O), Microsoft Corp (MSFT.O) and Alphabet Inc (GOOGL.O) fell between 0.1% and 0.2%. ET, Dow e-minis were down 134 points, or 0.44%, S&P 500 e-minis were down 21 points, or 0.56%, and Nasdaq 100 e-minis were down 57.25 points, or 0.51%. United Airlines Holdings Inc (UAL.O) jumped 5.8% as the U.S. carrier posted its strongest quarterly earnings in three years.

☆ Economic worries loom over U.S. airline earnings
▼ + stars: | 2022-10-12 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +4 min

Travel demand tends to cool after Labor Day, which marks the unofficial end of the U.S. summer season. Britain's biggest airport, Heathrow, on Tuesday warned of a possible slowdown in travel demand this winter. As companies call their employees back to office, business travel demand has received a boost. Prior to the pandemic, business travel accounted for up to 50% of the U.S airline industry's passenger revenue, according to trade group Airlines for America. "We're looking at business travel," Christopher Raite, senior analyst at Third Bridge, said.

☆ Airline’s Pitch to Aspiring Pilots: Fly Our Planes Now, Work for Us Later
▼ + stars: | 2022-09-22 | by ( Alison Sider | ) www.wsj.com time to read: 1 min

Regional airline company Mesa Air Group is offering a new way for pilots who have gone through initial training to build up the hundreds of additional flying hours they need to qualify for airline jobs. The airline, which flies for United Airlines Holdings Inc., American Airlines Group Inc. and cargo carrier DHL Express, said Thursday that it acquired 29 small two-seat planes with options to buy as many as 75 more over the next year. It plans to extend pilots interest-free loans to fly those planes around until they have accumulated the hours they need to work at Mesa.

☆ How One Airline Wants to Solve the Pilot Shortage: Lend Pilots Money to Fly
▼ + stars: | 2022-09-22 | by ( Alison Sider | ) www.wsj.com time to read: 1 min

Mesa Air plans to offer pilots interest-free loans to build up the additional flying hours they need to qualify for airline jobs. Regional airline company Mesa Air Group is offering a new way for pilots who have gone through initial training to build up the hundreds of additional flying hours they need to qualify for airline jobs. The airline, which flies for United Airlines Holdings Inc., American Airlines Group Inc. and cargo carrier DHL Express, said Thursday that it acquired 29 small two-seat planes with options to buy as many as 75 more over the next year. It plans to extend pilots interest-free loans to fly those planes around until they have accumulated the hours they need to work at Mesa.

☆ Delta Looks to Improve Margins, Cut Debt as Travel Rebounds
▼ + stars: | 2022-09-19 | by ( Nina Trentmann | ) www.wsj.com time to read: +8 min

September has been off to a good start, Mr. Janki said at a conference last week. Consumer demand remains strong and corporate travel—an important income generator for Delta before the pandemic—is recovering, Mr. Janki said. “We are keenly focused on continuing to strengthen the balance sheet and drive debt down,” Mr. Janki said. Adjusted net debt stood at $19.6 billion at the end of the second quarter, Delta said. Mr. Janki wants his 600-people strong finance team to rely more on data and improve its systems, including streamlining information in the cloud.

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