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☆ American Airlines Names New CFO as It Looks to Cut Debt
▼ + stars: | 2022-12-13 | by ( Kristin Broughton | ) www.wsj.com time to read: +3 min

American Airlines Group Inc. named a company veteran as its next finance chief as it reaps the benefits of an uptick in air travel and works to pay down debt. He succeeds Derek Kerr, who has held the CFO role at American since its 2013 merger with US Airways Group. During his 20-year tenure at American and airlines it absorbed, US Airways and America West, Mr. May has held senior-level roles in finance, regional operations and network planning. American is one of several airlines that cut back on flights this year amid widespread delays, staffing shortages and airport congestion. The company has said it plans to pay down about $15 billion of its total debt by the end of 2025.

☆ American and British Airways just opened brand new joint luxury lounges at New York's biggest airport as they grow their partnership — see inside
▼ + stars: | 2022-12-08 | by ( Taylor Rains | ) www.businessinsider.com time to read: 1 min

But, to better streamline their operation, British Airways has moved into Terminal 8, and the pair are now officially "roommates," as American CEO Robert Isom put it at a press conference in November. (L-R): Iberia CEO Javier Sánchez-Prieto, British Airways CEO Sean Doyle, American Airlines CEO Robert Isom, Port Authority Executive Director Richard Cotton, Congressman Gregory Meeks (D-NY), and Queen Borough President Donovan Richards Jr. cut the ribbon to the new Terminal 8 at JFK on Tuesday, November 29. Taylor Rains/Insider

☆ Delta pilots would get more than 30% in pay raises under new contract deal
▼ + stars: | 2022-12-03 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Delta Air Lines and its pilots' union have reached a preliminary agreement for raises topping 30% over four years, a milestone deal that could sharply drive up aviators' pay across the industry. Delta pilots voted in October to authorize a strike if a deal wasn't reached, while pilots at several airlines have picketed this year demanding contract improvements. Delta and the union were edging toward a deal in mid-November, CNBC reported. It also includes a one-time payment of 4% of 2020 and 2021 pay each, plus 14% of 2022 pay. The Delta agreement said pay rates will exceed United's and American's pay by at least 1% over the course of the agreement, which still needs union and pilot approval.

Oct 20 (Reuters) - American Airlines Group Inc (AAL.O) on Thursday forecast that fourth-quarter profit would exceed analyst estimates after posting better-than-expected earnings in the third quarter, as demand for travel remained resilient despite higher airfare and growing risks of an economic recession. American is the latest airline to provide an upbeat forecast even as a worsening economic outlook has sparked worries about travel spending. Carriers, however, say an unquenched thirst for travel, hybrid work arrangements and limited airline capacity would keep their business humming. American said demand for domestic and short-haul international travel is "very strong", and lifting of travel restrictions and testing requirements around the globe are expected to further drive up long-haul international traffic. Adjusted profit for the third quarter came in at 69 cents per share, topping analysts' expectations of 56 cents a share.

☆ Watch CNBC's full interview with American Airlines CEO Robert Isom on earnings
▼ + stars: | 2022-10-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with American Airlines CEO Robert Isom on earningsAmerican Airlines CEO Robert Isom joins CNBC's Phil LeBeau and the 'Squawk Box' team to discuss the company's third-quarter earnings report, which beat Wall Street's expectations. Isom also discusses the company's forecast for a fourth-quarter profit, oil prices, and more.

☆ American Airlines CEO Robert Isom: Strong demand will power fourth-quarter profit
▼ + stars: | 2022-10-20 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmerican Airlines CEO Robert Isom: Strong demand will power fourth-quarter profitAmerican Airlines CEO Robert Isom joins CNBC's Phil LeBeau and the 'Squawk Box' team to discuss the company's third-quarter earnings report, which beat Wall Street's expectations.

☆ Here's why it's so hard to find cheap airfare this year — and why 2023 isn't looking much better
▼ + stars: | 2022-10-20 | by ( Leslie Josephs | ) www.cnbc.com time to read: +7 min

"Holiday flights are going to be expensive once again," said Scott Keyes, founder of flight-deal site Scott's Cheap Flights. "The pricing power has shifted back to the airlines for winter holiday travel." Windfall for airlinesThe three biggest U.S. airlines — Delta , United and American — each reported profits and record revenue for the third quarter. "Demand has not come close to being quenched by a hectic summer travel season," Delta CEO Ed Bastian said on the carrier's quarterly call last week. "When you are opening your Christmas presents, ideally that's when you should be thinking about booking those summer flights," he said.

☆ American Airlines expects fourth-quarter profit thanks to strong travel demand
▼ + stars: | 2022-10-20 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

American Airlines reported a $483 million profit for the third quarter and joined rivals in forecasting resilient travel demand, as the airline industry continues to shrug off concerns about an economic slowdown. Here's how American performed in the third quarter, compared with Wall Street expectations according to Refinitiv consensus estimates:Adjusted earnings per share: 69 cents vs. an expected 56 cents. 69 cents vs. an expected 56 cents. The industry has seen strong travel demand, well into the off-peak fall season, as consumers continue to fly and, in many cases, pay more than they were in 2019. ET, when they will likely face questions about booking forecasts for 2023, business travel demand and labor negotiations.

☆ American Airlines pilot union moves toward seeking federal mediation as contract talks drag on
▼ + stars: | 2022-10-17 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

American Airlines ' pilot union is taking steps toward seeking federal mediation in contract negotiations as talks with the country's largest carrier drag on, according to a note from the labor group. The Allied Pilots Association, which represents some 15,000 American Airlines aviators, said in a message to pilots last week that its board unanimously approved a motion for the union to prepare an application for National Mediation Board intervention in its talks with the company, though it had not filed as of Monday afternoon. The union's potential request that the National Mediation Board intervene comes more than three months after American CEO Robert Isom offered pilots 17% raises in a new contract proposal. Compensation and some working conditions are among issues still up in the air with American, APA spokesman Dennis Tajer said. The carrier reports quarterly results and its demand outlook before the market opens on Thursday.

☆ Boeing delivers first 787 Dreamliner since 2021 ending pause over manufacturing flaws
▼ + stars: | 2022-08-10 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

An employee works on the tail of a Boeing Co. Dreamliner 787 plane on the production line at the company's final assembly facility in North Charleston, South Carolina. Boeing delivered its first 787 Dreamliner in more than a year on Wednesday, ending a pause on handovers of the jetliners that was sparked by a series of manufacturing flaws. American Airlines took the first new delivery from Boeing's 787 factory in South Carolina, the carrier's CEO, Robert Isom, said in an Instagram post. The delivery is a milestone for Boeing. Boeing said earlier this year that the production defects and a drop in output during the delivery hold will cost it $5.5 billion.

☆ U.S. airlines sound bullish as bookings roar back
▼ + stars: | 2022-04-22 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +4 min

That's the message major U.S. carriers are sending investors after grappling with coronavirus-induced uncertainty for two years. Last week, rival Delta Air Lines (DAL.N) also forecast a return to quarterly profit, citing "historic" high bookings. An American Airlines Airbus A321-200 plane takes off from Los Angeles International airport (LAX) in Los Angeles, California, U.S. March 28, 2018. Fuel is the industry's second-biggest expense after labor, but major U.S. airlines do not hedge against volatile oil prices like most European airlines. "You put all that together, and we feel very bullish," Kirby said on the company's earnings call.

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