Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Syth"


25 mentions found


Spirit Airlines is preparing to file for bankruptcy protection, The Wall Street Journal reported. AdvertisementFlying is likely to become more expensive for some passengers if Spirit Airlines falls into bankruptcy protection. The Journal reported in October that Spirit was weighing up bankruptcy. Frontier Airlines is based in Denver. "The domestic US air travel market does need some rationalization, and it is likely to start with Spirit Airlines," McNally said.
Persons: , Guy, Raymond James, Savanthi Syth, David Neeleman, Denver . Don Mammoser, Peter McNally, McNally Organizations: Airlines, Street Journal, Frontier, Service, Spirit Airlines, Street, Frontier Airlines, The, American Airlines, JetBlue, Equity, Big Locations: Charlotte, Los Angeles, Denver .
Flying could become more expensive for some passengers if Spirit Airlines falls into bankruptcy protection. The company's stock tanked Wednesday after The Wall Street Journal reported Spirit was preparing to file for Chapter 11 within weeks following the breakdown of merger talks with Frontier Airlines. Frontier Airlines is based in Denver. "The domestic US air travel market does need some rationalization, and it is likely to start with Spirit Airlines," McNally said. AdvertisementThe airline's bankruptcy could be a warning that the era of budget airlines' power is coming to a close.
Persons: Guy, Raymond James, David Neeleman, Denver . Don Mammoser, Peter McNally, McNally Organizations: Airlines, Street Journal, Frontier, Spirit Airlines, Street, Frontier Airlines, American Airlines, JetBlue, Big Locations: Charlotte , North Carolina, Los Angeles, Denver .
U.S. passenger airlines have added nearly 194,000 jobs since 2021 as companies went on a hiring spree after spending months in a pandemic slump, according to the U.S. Department of Transportation. It’s a departure from the previous years when airlines couldn’t hire employees fast enough. U.S. airlines are usually adding pilots constantly since they are required to retire at age 65 by federal law. Then, travel demand snapped back faster than expected, climbing in earnest in 2022 and leaving airlines without experienced employees like customer service agents. “We will be hiring for the foreseeable future at levels like that,” he said at the time.
Persons: Kit Darby, they’ll, Raymond James, Savanthi, Tammy Romo, Robert Isom, , , Ken Byrnes Organizations: U.S . Department of Transportation, Airlines, Boeing, Airbus, U.S, American Airlines, United Airlines, Delta Air Lines, Southwest Airlines, JetBlue Airways, Spirit Airlines, Pratt & Whitney, Frontier Airlines, Dallas, , ” United Airlines, , FedEx, UPS, American, Embry, Riddle Aeronautical University Locations: U.S, ” United
And now it wants Microsoft and the cybersecurity firm that caused the problem to compensate it for at least some of its losses. Delta has hired high-profile attorney David Boies’ law firm to seek damages from cyber security firm CrowdStrike and Microsoft for the massive service issues it suffered last week following a badly flawed software update caused problems in a key computer program. The hiring of the firm of Boies Schiller Flexner, first reported by CNBC, was confirmed to CNN by a person familiar with the decision. Delta’s costs could total between $325 million to $475 million, according to a note published Tuesday by Savanthi Syth, airline analyst for Raymond James. Boies and his firm won $290 million in 2023 from JPMorgan Chase for Jeffrey Epstein’s sexual abuse victims.
Persons: Delta, David Boies, Boies Schiller, Savanthi Syth, Raymond James . Delta, , CrowdStrike, Patrick T, Fallon, Boies, JPMorgan Chase, Jeffrey Epstein’s, Elizabeth Holmes, Boeis, Harvey Weinstein, Weinstein, Jeffrey Epstein's, Peter Foley, Al Gore, Brown Organizations: New, New York CNN — Delta Air Lines, Microsoft, CNBC, CNN, Delta Air Lines, Los Angeles International Airport, Getty, Endeavor Air, Delta, JPMorgan, Theranos, Bloomberg Locations: New York, AFP, Perry v
Read previewBudget airlines are upending many of their original business plans as increased costs wreak havoc on their bottom lines. On Thursday, Southwest Airlines announced the end of its open seating policy, a 50-year practice of letting passengers choose their seats based on their boarding order instead of having one pre-assigned. Budget flying has been moving in this direction for yearsThe industry's sea change has left budget carriers scrambling to increase revenue without turning away customers, prompting major policy changes. Other budget airlines have been similarly evolving their business models in recent years. Frontier Airlines and Spirit Airlines, for example, ditched most cancellation and change fees for ticket holders.
Persons: , Savanthi, Raymond James, Henry Harteveldt, Scott Kirby, Bob Jordan, Jordan, I'm Organizations: Service, Southwest Airlines, Business, Frontier Airlines, Spirit Airlines, JetBlue, Spirit, United Airlines, CNBC Locations: Southwest
Delta is still melting down. It could last all week
  + stars: | 2024-07-23 | by ( Chris Isidore | ) edition.cnn.com   time to read: +4 min
Frustrated passengers and crewsThe problems left tens of thousands of frustrated Delta customers stranded and unable to return home. Delta crew members are dealing with similar frustrations. Some Delta crew members also are unable to get hotel rooms and are sleeping at airports. This week, Delta remained in the dark about the whereabouts of its crew members. Delta also declined to comment on these offers to crew members.
Persons: Rahul Samant, ” Samant, Ed Bastian, , Ed, , Delta, Raymond James Organizations: New, New York CNN, Delta Air Lines, Endeavor Air, Delta Connection, Delta, IT, , CNN Locations: New York, Atlanta, Delta
Scott Olson | Getty ImagesRecord summer air travel demand isn't translating to record U.S. airline profits. Some airlines have forecast record demand, and in some cases, revenue. American Airlines on May 28 cut its second-quarter revenue and profit forecasts and announced its chief commercial officer was leaving after a sales strategy backfired. "The domestic supply and demand imbalance has led to a weaker domestic pricing environment than we had forecast," American Airlines CEO Robert Isom said at a Bernstein industry conference the next day. Travelers at New York's LaGuardia Airport Leslie Josephs/CNBCSouthwest Airlines cut its second-quarter forecast in late June, citing shifting demand patterns.
Persons: Scott Olson, sprees, Raymond James, Savanthi Syth, Scott Group, Hopper, Airfare, Robert Isom, Leslie Josephs, Bob Jordan, Pratt, Ted Christie Organizations: O'Hare, Getty, Airbus, Boeing, Pratt & Whitney, NYSE Arca, Paris, Investors, Delta Air Lines, Analysts, Delta, American Express, United Airlines, Alaska Airlines, Wolfe Research, Scott, theTransportation Security Administration, Airlines, Airline, Aircraft, U.S, American Airlines, CNBC Southwest Airlines, Elliott Investment Management, Politico, JetBlue Airways, Frontier Airlines, JetBlue, Spirit Airlines Locations: Chicago, Delta, Alaska, U.S, Europe, New, Dallas
Rival United Airlines — second to Delta in net profit margins — is circling. Delta plans to open Delta One lounges in Boston and Los Angeles later this year, and is studying airports where it could open others. Like other airlines, Delta accepted billions in federal aid to weather the pandemic. Luxury air travel and the United States didn't go together for many years — and might not still, if you ask well-heeled globetrotters. And at Delta and other airlines, many of the perks for luxury flyers come through lounges.
Persons: Benoit Tessier, Ed Bastian's, Bastian, Ed Bastian, John F, Raymond James, Savanthi Syth, Andrew Nocella, Patrick Quayle, Quayle, Richard Anderson, Anderson, Delta, Barack Obama's, They're, Shai Weiss, Claude Roussel, Joe Biden, United States didn't, Henry Harteveldt, Scott Kirby Organizations: Airbus, Delta Air Lines, Reuters Delta Air Lines, Transportation Department, Rival United Airlines —, CNBC, Delta Air Lines Inc, Bloomberg, Getty, American Express, Kennedy International Airport, United, Boeing, U.S, Labor, Southwest Airlines, U.S ., JetBlue Airways, Delta, Corporate, Northwest Airlines, Endeavor, Virgin, American, Sky Club, New, LaGuardia, Etihad Airways, Singapore Airlines, Atmosphere Research, Airlines, Sky Clubs, Los Angeles International Airport, JFK, American Airlines, JPMorgan, Consumer Electronics, Starbucks Locations: punctuality, New York, Delta, Chicago, Boston, Los Angeles, Dubrovnik, Croatia, Amman, Jordan, Cape Town , South Africa, Atlanta, U.S, Queens, N.Y, United, Tokyo, York, United States, Las Vegas
However, Elliott Investment Management said Monday that the airline's decades-old strategies weren't working in modern times, and it's calling for a management and board-of-directors overhaul as part of a plan it's calling "Stronger Southwest." This story is available exclusively to Business Insider subscribers. Elliott said Southwest leadership had a "rigid commitment" to the model it dreamed up decades ago, blaming that for today's shortcomings. Elliott Management, which oversees $66 billion in assets, is one of the world's most feared activist hedge funds. "The significant investment we have made reflects our conviction that, with the right leadership, Southwest can regain its status as an industry-leading airline."
Persons: , Elliott, Elliot, Raymond James, Savanthi Syth Organizations: Service, Airlines, Elliott Investment Management, Business, Southwest, Elliott Management, Texas Instruments
Budget airlines have become common, making a no-frills experience for travelers a core part of their business models. Budget airlines in Europe include EasyJet , Ryanair and Wizz Air, while Asia is served by players such as AirAsia and IndiGo . Some of South America's low budget airlines include JetSmart, GOL and Wingo. Budget airlines try to keep a close eye on their operational costs by maximizing time spent in the air and passenger volume. "You typically see pilot pay a little bit lower on Spirit and Frontier and some of the budget airlines compared to the full service airlines," Keyes said.
Persons: Scott Keyes, Savanthi Syth, Raymond James, Keyes Organizations: Southwest Airlines, Spirit Airlines, Budget, EasyJet, Ryanair, Wizz, AirAsia, IndiGo, CNBC Locations: U.S, Europe, Asia, GOL, Wingo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThings will hold up better for airlines than the market appreciates, says Raymond James' Savi SythGordon Bethune, former Continental Airlines CEO, and Raymond James analyst Savi Syth join 'Squawk on the Street' to discuss how long the good times can last for airline companies, how the industry will navigate this current period, and more.
Persons: Raymond James ' Savi, Gordon Bethune, Raymond James, Savi Syth Organizations: Continental Airlines CEO
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
SkyWest shares can continue their ascent as pilot hiring becomes less challenging, Raymond James said. Analyst Savanthi Syth upgraded the regional airline to outperform from market perform with a price target at $55. SKYW YTD mountain SkyWest, year to date Pilot attrition trends have been improving for the Utah-based airline since the first quarter of this year. That can further help mitigate the challenge of finding enough captains as target levels are reset in the next 12 to 18 months, she added. However, the airline could see upside as captain levels improve, the chart business expands or from market share gains tied to operational performance.
Persons: Raymond James, Savanthi Syth, Syth, SkyWest, — CNBC's Michael Bloom Locations: Wednesday's, Utah
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
The analyst lowered his price target to $38 from $52, still implying 15% upside from Thursday's close. Raymond James also downgraded Southwest shares to outperform from strong buy, calling it a "Texas-size heartache." The firm reduced its price target to $40 from $47, implying a 21.1% rally. Bank of America decreased its price target on shares to $35 from $45, which implies just 6% upside from where shares ended Thursday. Southwest shares shed 0.6% Friday before the bell, following an almost 9% tumble during the previous trading session.
Persons: Michael Linenberg, Linenberg, Raymond James, Savanthi Syth, Syth, Andrew Didora, Didora, — CNBC's Michael Bloom Organizations: Southwest Airlines, Deutsche Bank, Deutsche, Southwest, Bank of America Locations: Alaska, American, United, Southwest, Texas
June 30 (Reuters) - U.S. airline stocks on Friday were set to record their strongest monthly performance since 2021, helped by easing fuel prices and signs of robust travel demand during the summer season. The outlook for the rest of summer months is also bright. The S&P 1500 airlines (.SPCOMAIR) has jumped 21.3% so far in June, the highest since February 2021 and far ahead of the S&P 500's (.SPX) 5.2% rise. However, Raymond James analyst Savanthi Syth expects air travel demand to moderate in the second half, given the high level of uncertainty and limited visibility into the fall. Shares of United Airlines and Delta trade 5.2 and 7.0 times forward profit estimates, respectively, well below S&P 500's (.SPX) multiple at 19.1.
Persons: Russ Mould, Raymond James and, Raymond James, Savanthi Syth, Matthew Tuttle, Joby, Morgan, Medha Singh, Arun Koyyur Organizations: U.S, Airlines, America, Bell, Delta Air Lines, United Airlines, Raymond James and Bank of America, Delta, Tuttle Capital Management, Joby Aviation, Thomson Locations: United States, Bengaluru
April 12 (Reuters) - American Airlines Group Inc (AAL.O) on Wednesday forecast first-quarter profit below market expectations, joining rival United Airlines (UAL.O) in signaling a hit from persistently high labor and fuel costs. "We had expected American to come in towards the better end in a similar manner as JetBlue's guidance update provided in mid-March," Syth added. Airlines' shares in 2023The airline industry has been able to survive the broader economic slowdown in the United States, thanks also to tight airline capacity due to shortages of aircraft and spare parts. On an adjusted basis, it forecast a quarterly per-share profit of between 1 cent and 5 cents, compared with its previous forecast of a near break-even. Southwest Airlines Co (LUV.N) closed down 1.4%, United was down 6.5% and Delta was down 2.4%.
April 12 (Reuters) - American Airlines Group Inc (AAL.O) on Wednesday forecast first-quarter profit below market expectations, joining bigger rival United Airlines (UAL.O) to signal a hit from persistently high labor and fuel costs. The dull outlook pushed its shares more than 8% lower and weighed on other major U.S. airlines. Higher fares amid rising global travel have so far helped the airlines industry mitigate rising costs, but concerns over the sustainability of consumer demand have gained ground against the backdrop of high borrowing costs, inflation and job losses. American had in January said that its fuel price has increased by nearly 70%. However, on an adjusted basis, it forecast quarterly profit per share between 1 and 5 cents compared to analysts' expectation of 6 cents, according to Refinitiv data.
Delta pilots wrap voting on new contract with big raises
  + stars: | 2023-03-01 | by ( Leslie Josephs | ) www.cnbc.com   time to read: +2 min
Delta and the pilots' union had reached a preliminary agreement in December. The Delta pilots are expected to approve the deal Wednesday. United , American and Southwest pilots' unions are still in negotiations. Contract talks between airlines and labor unions have been fraught at times, as aviators seek higher pay and better schedules. Alaska Airlines pilots won raises in their latest labor deal last year.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRaymond James' Savi Syth: We are sticking to our strong buy rating for Southwest AirlinesRaymond James analyst Savi Syth joins 'Squawk on the Street' to discuss shares of Southwest Airlines amid the airlines' massive wave of flight cancellations amid the busy holiday travel season.
Southwest Airlines is still a stock worth buying despite the recent bout of flight cancellations, according to CFRA Research. CFRA analyst Colin Scarola maintained his rating of the stock as a buy. He said the stock's drop this month on the back of the cancellations has made it a smart time to buy in. Scarola cut his per-share earnings estimate on the stock for 2022 to $1.20 from $1.86. Southwest has attributed its challenges to internal technology platforms that the company says got overwhelmed by the volume of schedule changes .
Raymond James' Savanthi Syth offers her 2023 airline playbook
  + stars: | 2022-12-19 | 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 EmailRaymond James' Savanthi Syth offers her 2023 airline playbookSavanthi Syth, Raymond James analyst, joins 'Closing Bell: Overtime' to discuss on how to position yourself in airline stocks.
Companies across the U.S., including several startups, are developing electric air taxis that aim to take cars off the road and put people in the sky. In October, Delta Air Lines joined the list of airlines backing EV technology startups, with a $60 million investment in Joby Aviation, a company developing electric vertical takeoff and landing aircraft (eVTOLs), intended to operate as an air taxi service. In 2021, when Joby announced its plan to launch its Uber-like air taxis by 2024, it generated criticism from industry analysts on the ability to launch by that date. One is for $15 million with Eve Air Mobility for 200 aircraft, and another for $10 million with Archer Aviation for 100 eVTOLs. Air taxis could hit markets in the 2030sWhile major airlines enter agreements with global startups, it's important to remember these are conditional.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDelta and United Airlines will see tailwinds from long-haul flights in 2023, says Raymond James' SythSavanthi Syth, Raymond James airline analyst, joins 'Closing Bell' to discuss holiday travel trends and the impact on airline stocks.
Total: 25