DIRS.INFO The most relevant business & tech news

☆ Southwest Airlines pilot pay would increase 50% under new labor contract
▼ + stars: | 2023-12-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Southwest Airlines and its pilots' union have reached a new preliminary labor agreement that would give pilots 50% cumulative pay increases over the life of the contract, a deal that could end years of tense negotiations. The five-year deal is worth about $12 billion, Casey Murray, president of the Southwest Airlines Pilots Association, told CNBC on Tuesday. In comparison, larger rival United Airlines ' new four-year pilot contract is worth about $10 billion, according to the aviators' union. Once the contract becomes amendable, Southwest pilots would get 2.5% annual bonuses until the airline and union reach a new agreement. FedEx pilots rejected an preliminary deal earlier this year, while UPS pilots' union is set to start negotiations in mid-2024.

Persons: Casey Murray Organizations: Southwest Airlines, Southwest, U.S, Southwest Airlines Pilots Association, CNBC, United Airlines, United, Delta, FedEx, UPS, U.S . Department of Transportation, Labor, Hollywood, United Auto Workers union Locations: Southwest

☆ FedEx shares tumble 12% after weaker demand hit revenue outlook
▼ + stars: | 2023-12-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

FedEx shares fell 12% Wednesday morning after the package delivery giant cut its revenue forecast as weaker demand hit sales. The company said it expects a low-single-digit decline in revenue for the fiscal year, down from a previous forecast for flat sales year over year. Analysts had expected a revenue drop of less than 1% in the current fiscal year, according to LSEG, formerly known as Refinitiv. The company's Express unit, its largest, was especially challenged in the quarter with lower demand, surcharges and customers shifting to cheaper services, FedEx said. Correction: Revenue was $22.17 billion versus $22.41 billion expected.

Persons: Raj Subramaniam Organizations: FedEx, Analysts, company's, LSEG Revenue, Revenue

☆ Southwest fined $140 million for last year's holiday meltdown
▼ + stars: | 2023-12-18 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

The U.S. Department of Transportation on Monday said it fined Southwest Airlines $140 million for violating consumer protection laws during last year's holiday meltdown that stranded millions of customers following severe winter weather. It includes a $35 million cash payment to the government, which Southwest said will be paid over three years. The agency ordered Southwest to set up a fund to compensate future travelers for flight disruptions in the airline's control. Southwest didn't provide enough customer assistance during the meltdown or give prompt flight change notifications, the DOT said. Speaking at an industry event in New York last week, CEO Bob Jordan vowed that last year's holiday meltdown "will never happen again," just days ahead of the busy holiday travel period.

Persons: Pete Buttigieg, Bob Jordan, Jordan Organizations: U.S . Department of Transportation, Southwest Airlines, Southwest Locations: New York

☆ Delta beefs up Austin flights in battle for fast-growing airport
▼ + stars: | 2023-12-15 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Delta Air Lines is adding more flights next year at Austin-Bergstrom International Airport, in a bid to gain market share in one of the country's fastest-growing airports. The carrier plans to add 11 nonstop flights from Austin in April, giving it almost 50 peak-day flights, the airline said Friday. Flight additions include Midland-Odessa and McAllen in Texas, as well as Raleigh-Durham in North Carolina, Nashville and Cincinnati. "For us here at Delta, Texas has historically been a white space for opportunity on our network." Delta had a market share of close to 14% in Austin as of September, behind Southwest Airlines ' 40% share and American's 22%, according to airport data.

Persons: Eric Beck, Beck Organizations: Delta Air Lines, Austin, Bergstrom International Airport, American Airlines, IBM, Southwest Airlines Locations: Austin, Midland, Odessa, McAllen, Texas, Raleigh, Durham, North Carolina, Nashville, Cincinnati, Atlanta, Delta , Texas, U.S, Delta

☆ Southwest CEO vows last year's Christmas meltdown ‘will never happen again’
▼ + stars: | 2023-12-14 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Southwest Airlines CEO Bob Jordan speaks as he is interviewed by CNBC outside the New York Stock Exchange on Dec. 9, 2021. With the peak Christmas travel season just days away, Southwest Airlines ' CEO vowed that the carrier will not have a repeat of last year's meltdown that stranded thousands of customers and cost the airline more than $1 billion. "It will never happen again," Bob Jordan said at an event Thursday at the Wings Club in New York. Last year, Southwest canceled close to 17,000 flights over the crucial Christmas and New Year's holiday period as it failed to recover from severe weather that gripped most of the country. Southwest struggled with staffing issues as storms left flight attendants and pilots out of position for their next flights, thousands of passenger bags piled up and planes were behind on de-icing.

Persons: Bob Jordan, Jordan Organizations: Southwest, CNBC, New York Stock Exchange, Southwest Airlines, Wings Club, CNBC PRO Locations: New York, Denver

☆ Alaska-Hawaiian merger faces a Justice Department that has been skeptical of airline deals
▼ + stars: | 2023-12-04 | by ( Leslie Josephs | ) www.cnbc.com time to read: +4 min

An Alaska Airlines aircraft flies past the U.S. Capitol before landing at Reagan National Airport in Arlington, Virginia, U.S., January 24, 2022. It could be the latest in a string of challenges brought by President Joe Biden's Justice Department against airline deals it views as anticompetitive. Alaska Air Group 's executives spent months working on its plan to buy rival Hawaiian Airlines . The Alaska-Hawaiian and JetBlue-Spirit deals are different in approach, but the Alaska acquisition could still face hurdles with regulators. "We have very similar product offerings and we have very limited network overlap."

Persons: Joe Biden's, William Kovacic, Shane Tackett, Samuel Engel Organizations: Alaska Airlines, U.S, Capitol, Reagan National Airport, JetBlue, Joe Biden's Justice Department, Alaska Air Group, Hawaiian Airlines, Spirit, Virgin America, Airbus, Boeing, The, George Washington School of Law, Federal Trade Commission, CNBC, Boston University's Questrom School of Business, ICF Locations: Arlington , Virginia, U.S, The Alaska, Hawaii, Southwest, Asia, Delta, United, Alaska, anticompetitive, Pacific

☆ Southwest, pilots' union near a preliminary labor deal, the last of the major U.S. airlines
▼ + stars: | 2023-12-01 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

The company and the union have agreed on pay, retirement and other items but are working on an implementation schedule, the Southwest Airlines Pilots Association said in a message to its members on Thursday. If a preliminary agreement is approved by Southwest pilots' union board in the coming weeks, it would then go to pilots for a ratification vote. Southwest and the union "are working hard to close out the few remaining items," an airline spokesman told CNBC. "Southwest remains committed to reaching an agreement that rewards our Pilots and places them competitively in the industry." Southwest reached a preliminary agreement with its flight attendants' union earlier this fall that includes 36% pay increases for cabin crew members.

Organizations: Southwest Airlines, Southwest Airlines Pilots Association, . Delta Air Lines, United Airlines, American Airlines, Southwest, CNBC, Hollywood, United Auto Workers

☆ Spirit Airlines offers buyouts to salaried employees to cut costs
▼ + stars: | 2023-11-29 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Spirit Airlines is offering voluntary exit packages to salaried employees, the budget carrier's latest cost-cutting measure as it expects financial strains to continue next year. "Now, we're taking the next difficult step – enacting an Early Voluntary Out program for salaried Team Members," Christie wrote in the memo. The company had a similar plan during the height of Covid pandemic. "Based on the success of that plan, we're implementing a similar set of opportunities to help us right-size our organization for our current fleet and business constraints." The Wall Street Journal reported the Spirit Airlines buyouts earlier Wednesday

Persons: Ted Christie, Christie Organizations: Airlines, Airbus, Pratt, Whitney, CNBC, Denver, Team, JetBlue Airways, Justice Department, Street Journal, Spirit Airlines Locations: Boston

☆ How airlines are shaving minutes off flight times to save millions
▼ + stars: | 2023-11-23 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Passengers make their way through the terminal as they travel ahead of the Thanksgiving holiday at Washington Dulles International Airport in Dulles, Virginia, on Nov. 22, 2023. American Airlines last year started using new technology to assign flight gates at Dallas/Fort Worth International Airport, the world's second-busiest airport and American's biggest hub, where it operates out of 135 regional and mainline gates. "It took the nightly process of gating the airline from four hours to about 10 minutes," said American COO David Seymour. The gating technology in other airports aims to avoid gate congestion that could delay flights from departing or parking upon arrival. Short taxi times and other improvements can help airlines save fuel, one of airlines' biggest costs.

Persons: David Seymour, Ronald Reagan, Chicago's, Seymour Organizations: Washington Dulles International, American Airlines, Fort Worth International, Charlotte Douglas International Airport, Miami International Airport, Ronald Reagan Washington National Airport, Transportation Department, American Locations: Dulles , Virginia, Dallas, American's, Miami, Ronald Reagan Washington, Phoenix

☆ Airlines brace for record Thanksgiving air travel
▼ + stars: | 2023-11-18 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Airlines expect record travel demand this Thanksgiving. The Sunday after Thanksgiving is expected to be the busiest day during that period with an estimated 2.9 million passengers taking to the skies. And Thanksgiving will be a test to see how the aviation industry handles the year-end holidays while still managing strains like a prolonged shortage of air traffic controllers. Weather readiness is particularly key for Southwest Airlines , which canceled 16,700 flights late last year and in early 2024 following severe winter weather, while other airlines recovered more quickly. Those extra two minutes "just helps that flight and the next flight and the next flight," she said.

Persons: they're, David Pekoske, Andrew Watterson, Linda Jojo, Jojo Organizations: Delta Airlines, Orlando International Airport, Airlines, Transportation Security Administration, Carriers, Southwest Airlines, Skift Aviation, United Airlines Locations: Orlando , Florida, Dallas, Fort Worth , Texas, enplaning

☆ Taylor Swift's postponed Argentina show prompts airline to waive flight-change fees
▼ + stars: | 2023-11-11 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Like hurricanes, blizzards or wildfires, Taylor Swift is now prompting an airline to waive ticket-change fees. The Chie-based carrier said it is waiving both ticket-change fees and differences in fare if travelers can fly anytime until Nov. 17 after Swift's show at Argentina's largest stadium was postponed. Some customers complained to LATAM on social media, however, that they were having trouble finding seats and that the carrier told them about the waiver too late. The airline didn't immediately comment on whether it is adding additional flights. While it might be a new era for airline waivers, The Eras Tour has impacted other industries like hotels.

Persons: Taylor Swift, popstar Organizations: LATAM Airlines, Airlines, CES, CNBC Locations: Chile, South America, Buenos Aires, Argentina's

☆ $29 flights are back as airlines race to fill seats in the off-season
▼ + stars: | 2023-11-11 | by ( Leslie Josephs | ) www.cnbc.com time to read: +6 min

A Frontier Airlines airplane taxis past a Spirit Airlines aircraft at Indianapolis International Airport in Indianapolis, Indiana. Southwest Airlines , for example, last month offered one-way fares of $29 for flights early in the morning or at night, just one example of airline discounting for off-peak periods. Airlines have scheduled a record 259.8 million seats for domestic flights in the fourth quarter, up nearly 8% from last year, on 1.86 million flights, up 6% from 2022, according to aviation-data firm Cirium. United Airlines said it expects to fly 5.9 million passengers from Nov. 17 to Nov. 29, up 13% from last year and 5% more than 2019. That means they could increase their inventory of cheaper basic economy fares during weaker demand periods, or raise fares when demand is high for premium seats.

Persons: Luke Sharrett, Ryan Green, Scott Keyes, airfare, Bob Jordan, Jordan, Barry Biffle, we're, Hopper, that's, Biffle, Henry Harteveldt Organizations: Frontier, Spirit Airlines, Indianapolis International Airport, Bloomberg, Getty, Texas — Airlines, Southwest Airlines, Skift Aviation, Airlines, JetBlue Airways, Budget, JetBlue, Frontier Airlines, . Frontier Airlines, CNBC, Delta Air Lines, United Airlines, American Airlines, Southwest, Atmosphere Research Locations: Indianapolis , Indiana, Texas, Miramar , Florida, Orlando, Vegas

☆ United Airlines tweaks frequent flyer program to reward credit card spending
▼ + stars: | 2023-11-09 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

United Airlines plans to make it easier for customers to earn elite status through co-branded Chase credit cards, the latest airline to tweak its lucrative frequent flyer program to reward big spenders. The airline isn't changing overall requirements for elite frequent flyer status next year, a first for the carrier since the start of the Covid-19 pandemic. Instead, United said Thursday that in 2024, it will reward customers with 25 qualifying points for every $500 they spend on co-branded cards. The carrier will also lift caps on credit card spending that can qualify toward elite status. Airlines reward their elites with perks such as free upgrades, when available; earlier boarding; and other perks.

Persons: United Organizations: Airlines, Delta Air Lines

☆ Delta lays off some corporate workers to cut costs
▼ + stars: | 2023-11-01 | by ( Leslie Josephs | ) www.cnbc.com time to read: 1 min

Delta Air Lines is cutting some corporate jobs in an effort to cut costs as the industry grapples with higher expenses such as for fuel and labor. "While we're not yet back to full capacity, now is the time to make adjustments to programs, budgets and organizational structures across Delta to meet our stated goals — one part of this effort includes adjustments to corporate staffing in support of these changes," Delta said in a statement to CNBC. "These decisions are never made lightly but always with care and respect for our impacted team members and the Delta family." Delta didn't specify how many jobs it is cutting and said they do not affect frontline workers like pilots or flight attendants. Check back for updates.

Persons: Delta Organizations: Delta Air Lines, CNBC Locations: Delta

☆ Southwest flight attendants would get 36% pay raises in new contract
▼ + stars: | 2023-11-01 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Southwest Airlines flight attendants would get 36% cumulative pay increases in a new five-year contract, according to details of the tentative agreement shared with crews Wednesday. The flight attendants are the latest aviation labor group to win proposed pay hikes after fraught years-long negotiations for new labor details. Flight attendants are scheduled to start voting on the tentative agreement mid-November. If approved, Southwest will also increase pay for on-call flight attendants by 8% and provide overtime pay if they are called into work outside of their on-call window. Pilots and flight attendants have repeatedly complained about unpredictable schedules and difficulties getting assignments during flight disruptions.

Persons: Ronald Reagan Organizations: Southwest Airlines Boeing, Ronald Reagan Washington National Airport, Southwest Airlines, CNBC PRO Locations: Ronald Reagan Washington, Arlington , Virginia, Southwest

☆ JetBlue sinks to 12-year low as airline forecasts more losses, Spirit antitrust trial begins
▼ + stars: | 2023-10-31 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

JetBlue Airways stock tumbled to a nearly 12-year low Tuesday as the company forecast a loss for the fourth quarter and heads to court to defend its acquisition of budget carrier Spirit Airlines , a purchase it argues is crucial to its future. Shares fell more than 18% in early trading Tuesday to $3.42 apiece before recovering some of those losses. Spirit shares fell more than 17% at their lowest point to a three-year low. JetBlue plans to remove seats from Spirit's bright-yellow planes and outfit them with seatback screens to match JetBlue's interiors. Spirit's business model is based on packed planes, no-frills fares and fees for everything from seat assignments to carry-on luggage, while JetBlue has more amenities and fewer seats on board.

Organizations: JetBlue Airways, Spirit Airlines, U.S . Department of Justice, Frontier Airlines, U.S, JetBlue, Southwest, Justice Department Locations: Delta, United, U.S

☆ Spirit Airlines suspends training for new pilots after difficult quarter, Pratt engine issue
▼ + stars: | 2023-10-27 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

"With these recent developments, however, we will also be suspending all new-hire training efforts starting in November, until further notice." The carrier said it expects 13 grounded planes in January, rising to 41 in December of next year. The airline had a fleet of 202 Airbus planes as of Sept. 30, according to a filing. The budget airline Spirit on Thursday posted a net loss of $157.6 million, which was more than four times its loss a year ago. "And, unfortunately, we have not seen the anticipated return to a normal demand and pricing environment for the peak holiday periods."

Persons: Greg Christopher, Christopher, RTX, Ted Christie Organizations: Airbus, CNBC, Pratt, Whitney Locations: Miramar , Florida

☆ Southwest slows 2024 growth as demand moderates
▼ + stars: | 2023-10-26 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Southwest Airlines said Thursday it plans to slow its capacity growth next year, citing moderating travel demand as booking patterns shift back to pre-pandemic norms. Southwest will expand its flying between 10% and 12% in the first quarter of 2024 from a year earlier, down from a previous forecast of as much as 16% growth, Southwest said in an earnings release. Adjusting for the impact of labor contract adjustments and other one-time items, the company earned 38 cents per share. The company forecast negative margins in the last three months of the year, citing weaker demand even for year-end holidays. Southwest and Spirit shares were each down more than 4% in premarket trading, while Frontier was off 1%.

Persons: Bob Jordan, Ted Christie Organizations: Southwest Airlines, Airlines, Southwest, Spirit Airlines, JetBlue Airways, Department, Frontier Airlines, Frontier Locations: LSEG

☆ Boeing cuts 737 Max delivery forecast as production issues dent third-quarter results
▼ + stars: | 2023-10-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Boeing's new 737 MAX-9 is pictured under construction at their production facility in Renton, Washington, U.S., Feb. 13, 2017. Boeing said Wednesday it will deliver fewer 737 Max aircraft than it previously expected this year as it works through production flaws detected on some of the best-selling aircraft. Boeing maintained its expectations for 2023 free cash flow of $3 billion to $5 billion, despite the production problems. I view it as quite the opposite," CEO Dave Calhoun said in an employee note on Wednesday, as the company reported third-quarter results. ET when executives will face questions about its production pace, demand and how it expects to improve margins in its defense unit.

Persons: we've, Dave Calhoun Organizations: Boeing, Max, Budget, Ryanair, Sales, Air Force, Revenue Locations: Renton , Washington , U.S, LSEG

☆ Off-duty Alaska Airlines pilot warned 'I am not okay' before alleged attempt to disable plane engines
▼ + stars: | 2023-10-24 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

In this article ALK Follow your favorite stocks CREATE FREE ACCOUNTAn Alaska Airlines jet departs John Wayne Airport in Santa Ana, CA on Monday, August 8, 2022. Medianews Group/orange County Register Via Getty Images | Medianews Group | Getty Images"I am not okay," an off-duty Alaska Airlines pilot said before allegedly reaching and grabbing handles that could have disabled the aircraft's engines, according to a federal complaint filed on Tuesday. The pilots told investigators that there was no indication of anything wrong early in the flight, according to court records. One of the flight's pilots told investigators that Emerson settled down after about 20 to 30 seconds and exited the cockpit. After leaving the cockpit, Emerson told a flight attendant, "You need to cuff me right now or it's going to be bad."

Persons: Joseph David Emerson, Emerson Organizations: Alaska Airlines, John Wayne Airport, Medianews, Getty, Alaska, Portland International Airport, Justice Department, Multnomah County Sheriff's, Pilots Locations: Santa Ana , CA, San Francisco, Portland, Pleasant Hill , California, Oregon, Multnomah County

☆ Frontier Airlines overhauls frequent flyer program to reward travelers based on spending
▼ + stars: | 2023-10-24 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Frontier Airlines on Tuesday joined larger airlines in announcing an overhaul of its frequent flyer program to reward travelers depending on how much they pay to fly. Those add-ons will count toward elite frequent flyer status on the Denver-based airline starting next year. The carrier's current program gives travelers one frequent flyer mile for each physical mile they fly on Frontier. The new model based on spending is similar to other large airlines' recent program changes like those at Delta Air Lines and American Airlines . Frontier said customers will be able to earn earn silver elite status, a new tier, after racking up 10,000 miles, which the carrier said is equal to spending $1,000.

Persons: Delta Organizations: Airlines, Denver International, Frontier Airlines, Tuesday, Delta Air Lines, American Airlines Locations: Denver, Denver , Colorado, airfare

☆ Alaska Airlines flight diverts after off-duty pilot in cockpit tries to interfere with engines
▼ + stars: | 2023-10-23 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Travelers wait to check-in at the Alaska Airlines counter at San Francisco International Airport (SFO) in San Francisco, California. An Alaska Airlines flight operated by a subsidiary diverted to Portland International Airport in Oregon on Sunday after an off-duty Alaska pilot tried to interfere with engines, the carrier said Monday. "The jump seat occupant unsuccessfully attempted to disrupt the operation of the engines," Alaska Airlines said in a statement. The FBI and Port of Portland police are investigating the incident, Alaska said. "We are grateful for the professional handling of the situation by the Horizon flight crew and appreciate our guests' calm and patience throughout this event," Alaska Airlines said.

Persons: didn't Organizations: Alaska Airlines, San Francisco International Airport, An Alaska Airlines, Portland International, Pilots, FBI, Port, Horizon Locations: San Francisco , California, An, Portland, Oregon, Alaska

Over the past couple of years, airlines and credit card companies such as American Airlines, United Airlines, Chase and Capital One have been investing millions into expanding their airport lounge networks for customers. According to Chase, lounge access is often the top-cited reason for its credit card sign-ups, and by the end of 2023, Delta said it would add 2,700 seats to its lounges. However, lounges have become so popular that some face overcrowding, and companies such as Delta are making it harder to get airline status.

Persons: Chase, Delta Organizations: American Airlines, United Airlines, Chase, Capital

Travelers are flocking to airport lounges in search of complimentary food, drinks and perhaps most importantly, a chance to relax away from the hordes of travelers at the gate. Delta's new Sky Club at New York's John F. Kennedy International Airport Benji Stawski / CNBCDelta Air Lines Sky Club lounges — and the credit cards that grant entry to them — became so popular that customers complained about the long lines and crowds at many locations. More spaceDelta, United Airlines and American Airlines are racing to build more lounges and spaces and larger ones to fit high demand. The carrier separately operates a network of Polaris lounges for travelers booked in its highest cabin class, usually on long-haul international routes. United Airlines Polaris lounge at Newark Liberty International Airport.

Persons: John F, Benji Stawski, —, Delta, Allison Ausband, Leslie Josephs Organizations: Sky Club, New, Kennedy International, CNBC Delta Air Lines Sky, —, CNBC, John, Delta, United Airlines, American Airlines, Denver International Airport, Polaris, United Airlines Polaris, Newark Liberty International Airport Locations: U.S, New York, Delta

☆ American Airlines posts third-quarter loss and trims 2023 profit forecast
▼ + stars: | 2023-10-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Boeing 787-9 Dreamliner, from American Airlines company, taking off from Barcelona airport, in Barcelona on 24th February 2023. American Airlines posted a third-quarter loss on Thursday and trimmed its profit forecast for the year, partly in response to higher fuel prices. American said it expects a full-year adjusted operating margin of 7%, down from a previous forecast for as wide a margin as 10%. For the fourth quarter, American estimated it would break even. American will hold a call with analysts and media at 8:30 a.m. on Thursday to discuss results and its outlook.

Persons: Robert Isom Organizations: Boeing, American Airlines, LSEG, Revenue Locations: Barcelona

Search resuls for: "Leslie J"

25 mentions found