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☆ Did investors learn nothing from last year’s market meltdown?
▼ + stars: | 2023-02-05 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

Shares of movie theater chain AMC (AMC) have soared nearly 65% so far in 2023, and AMC (AMC)’s companion preferred stock (which trades under the ticker APE as a nod to the nickname AMC (AMC) fans have given themselves on social media) has more than doubled. So did investors learn nothing from last year’s market meltdown? I don’t agree with this market rally in meme stocks,” said Erik Ristuben, chief investment strategist with Russell Investments. Another strategist agrees this recent rally for meme stocks and other speculative bets may not end well. If they’re upbeat about spending, that could keep the rally in consumer stocks going.

☆ Earnings and Fed Chair Powell will again drive markets in the week ahead
▼ + stars: | 2023-02-03 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

With few economic releases and the earnings season starting to wind down, an appearance by Federal Reserve Chairman Jerome Powell Tuesday could be among the newsiest events for markets in the week ahead. The Fed chair is speaking at the Economic Club of Washington D.C. at midday Tuesday. If he wanted to walk back anything, he could have done it then," said Art Hogan, chief market strategist at B. Riley. Economists said Friday's surprisingly strong jobs report should encourage the Fed to push forward with planned rate hikes. Earnings, earnings, earnings But there continues to be earnings news.

☆ U.S. airline group blasts White House competition efforts
▼ + stars: | 2023-02-01 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

[1/3] Passengers are seen at the Southwest Airlines check-in area at Hartsfield-Jackson Atlanta International Airport ahead of the Fourth of July holiday in Atlanta, Georgia, U.S., July 1, 2022. REUTERS/Elijah NouvelageWASHINGTON, Feb 1 (Reuters) - A group representing major U.S. airlines on Wednesday blasted White House proposals on competition in the industry as "short-sighted" and said they would "drive-up costs and reduce choices" for consumers. The Biden administration has taken steps it says will inject more competition into the airline industry. A4A on Wednesday said "the White House should get the facts straight amid efforts to impose new policies and regulations on our nation’s aviation industry." The White House declined to comment.

☆ JetBlue pilots approve contract extension that comes with over 21% in raises
▼ + stars: | 2023-01-30 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

JetBlue Airways pilots have approved a contract extension that comes with 21.5% raises over the next 18 months as the industry reverses slow progress in labor deals during a pilot shortage. That airline's pilots approved a new two-year contract that their union estimated to be worth around $463 million. If the merger isn't approved by regulators, the union will go back into contract negotiations with the airline. A shortage of aviators and high demand from airlines large and small have also limited airlines' ability to grow. United Airlines , American Airlines and Southwest Airlines are still in talks with their pilots' labor unions.

☆ Southwest CEO maps out a recovery after holiday meltdown: 'We have work to do'
▼ + stars: | 2023-01-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +8 min

Tayfun Coskun | Anadolu Agency | Getty ImagesSouthwest CEO Bob Jordan's message, after a holiday meltdown derailed the travel plans of millions, is clear: "I can't say it enough. The low-cost airline is working with General Electric to improve the capabilities of software that helps Southwest work out crew reassignments. Southwest said it offered premium pay to flight attendants and $45 million in "gratitude pay" to pilots because of the meltdown. He said that a recent fare sale was successful and that many customers are redeeming the frequently flyer points for Southwest flights. "This payment constitutes full and final settlement of your claim with Southwest Airlines."

☆ The Wall Street Journal ranked US airlines from worst to best. See the list.
▼ + stars: | 2023-01-24 | by ( Taylor Rains | ) www.businessinsider.com time to read: +5 min

The Wall Street Journal has revealed its annual list of the best and worst airlines in the US. Delta Air Lines took the top spot, while JetBlue Airways lagged behind competitors. According to aviation data company Anuvu, which provided the numbers for WSJ's rankings, Delta had the best on-time arrival rate of 81.7%. Here's a closer look at the WSJ's list of the best and worst airlines in the US. Delta Air LinesDelta Air Lines.

What are credit card and bank rewards points worth? One great feature of the program is that all points are equal, so any account that earns Membership Rewards points has access to transfer partners. If you're a Bank of America Preferred Rewards customer, you'll earn 25% to 75% more points, depending on how much you have on deposit, but your rewards points are still worth 1 cent apiece. You can transfer points from Chase Ultimate Rewards, Amex Membership Rewards, and Citi ThankYou to JetBlue, but the ratio varies depending on the rewards program. However, those miles expire after 36 months regardless of your account activity, so only transfer miles when you have immediate plans to redeem them.

☆ Spirit Airlines Pilots Approve New Contract, Lifting Pay 34%
▼ + stars: | 2023-01-10 | by ( Alison Sider | ) www.wsj.com time to read: 1 min

Spirit had struggled to attract new pilots as competitors had raised pay. Pilots at Spirit Airlines Inc. approved a two-year contract agreement that will boost their pay by an average of 34% over that period, signaling how growing competition for aviators is fueling higher wages. Nearly 70% of Spirit’s pilots voted in favor of the deal, which the Air Line Pilots Association union said included gains worth $463 million. Captains will receive cumulative pay increases of 25% over the term of the agreement, while first officers’ pay will increase 43%, the union said.

☆ The best ways to book domestic flights using Amex Membership Rewards points
▼ + stars: | 2023-01-09 | by ( Jason Stauffer | Benji Stawski | ) www.cnbc.com time to read: +18 min

Below, CNBC Select details the best ways to redeem Amex points to fly for free (or nearly free) across the U.S. Best Amex cards for earning Membership Rewards pointsAmerican Express has a strong lineup of both personal and business cards that earn transferrable Membership Rewards points. How to use Amex points for domestic flightsYou can only transfer Amex points to two U.S.-based airline programs: Delta SkyMiles and JetBlue TrueBlue. Booking United flights with Amex points Amex Membership Rewards points don't transfer to United MileagePlus, but you can book United award flights through United's Star Alliance partners, such as Avianca LifeMiles and Air Canada Aeroplan. By strategically transferring Amex points to partner airlines, you can use Amex points to book flights with United Airlines, American Airlines, Alaska Airlines, and others.

☆ What Airline Chaos Looks Like From the Inside
▼ + stars: | 2023-01-07 | by ( Mark Kahan | ) www.wsj.com time to read: +1 min

The disarray that engulfed Southwest Airlines this holiday season left observers as bewildered as the carrier’s hapless passengers. How could Southwest—whose consistent profitability, efficient service and low prices once made it the exemplar of skillful airline management—melt down so disastrously? In the coming years, the business school professoriate will publish case studies. From 1996 to 2006 I was vice chairman and general counsel of Spirit Airlines . In fact, Southwest has grown so impressively that it is now among the largest and most profitable U.S. carriers.

☆ I flew on a private jet to Miami and on Spirit Airlines back to New York. Here's how my $92 flight compared to a Bombardier Global 7500 which can cost $20,000 an hour to charter.
▼ + stars: | 2023-01-06 | by ( Taylor Rains | ) www.businessinsider.com time to read: 1 min

At the end of the day, obviously flying private would be a preferred method of travel. But, most people are happy earning status on their favorite mainline airline or flying as cheaply as they can on a low-cost carrier. My preferred airlines are United and Delta for status, reliability, and comfort. On The Run Photo/ShutterstockI flew on Delta's Boeing 767 from Sweden to New York in economy and it was the best transatlantic flight I've taken in a long time

☆ Some flight attendants have their attendance tracked by a game-like 'point system' that they say values efficiency over health
▼ + stars: | 2023-01-05 | by ( Hannah Towey | Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

During a year marked by labor strikes and protests, flight attendants and rail workers told Insider that these points-based attendance policies create an industry culture that values efficiency over employee health and well-being. But workers say the point systems form the foundation of punitive attendance policies that force them to work while sick or dangerously fatigued. At American Airlines, flight attendants have pushed back on the system for years. "I don't think you'd speak to one flight attendant who thinks the point system is necessarily fair, or balanced," Anthony Cataldo, an American Airlines flight attendant of 33 years, told Insider. So we're on call 24 hours a day, seven days a week, 365 days a year," a BNSF railway conductor of over a decade told Insider.

☆ The top 20 safest airlines in the world for 2023, according to experts
▼ + stars: | 2023-01-04 | by ( Taylor Rains | ) www.businessinsider.com time to read: +5 min

AirlineRatings.com has revealed the 20 safest airlines in the world for 2023, which includes five from the US. The website also revealed the top 20 safety low-cost carriers — another five of which were from the US. He also noted that the safety margins between the top 20 carriers were "very small," and that they are "all outstanding airlines." Meanwhile, the same five US carriers that made the list last year — Alaska Airlines, Hawaiian Airlines, United Airlines, American Airlines, and Delta Air Lines — maintained their spots in 2023. The organization also published the world's 20 safest low-cost carriers, which included five US carriers — Allegiant Air, Frontier Airlines, JetBlue Airways, Southwest Airlines, and Spirit Airlines.

☆ Why Southwest is melting down
▼ + stars: | 2022-12-27 | by ( David Goldman | ) edition.cnn.com time to read: +6 min

By Monday, air travel was more or less back to normal – unless you booked your holiday travel with Southwest Airlines. More than 90% of Tuesday’s US flight cancellations are Southwest, according to flight tracking website FlightAware. Southwest warned that it would continue canceling flights until it could get its operations back on track. Similar to this month’s service mayhem, Southwest fared far worse than its competitors last October. While Southwest canceled hundreds of flights in the days following the peak of October’s disruption, competitors quickly returned to normal service.

☆ Some flight attendants and rail workers have their attendance tracked by a game-like 'point system' that they say values efficiency over health
▼ + stars: | 2022-12-23 | by ( Hannah Towey | Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

The Amex airline incidental fee credit can reimburse you for qualifying fees on one airline you select from a list of eight US carriers. One of the most valuable benefits offered by premium American Express cards like The Platinum Card® from American Express , The Business Platinum Card® from American Express , and Hilton Honors American Express Aspire Card is a yearly airline incidental fee credit. $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year in baggage fees and more at one select qualifying airline. What qualifies for the Amex airline fee credit? What to do if you haven't used all your Amex airline fee creditsSome people still aren't traveling as much as they used to, so cardholders might find themselves unable to use all of their Amex airline fee credits right now.

☆ Flight delays and cancellations will likely impact millions of Christmas travelers. What to do when your airline experiences disruptions.
▼ + stars: | 2022-12-20 | by ( Taylor Rains | ) www.businessinsider.com time to read: +8 min

The National Weather Service has warned of a strong winter storm expected to affect holiday travel. But, some airlines offer to rebook on their website or mobile app and waive any fees, so it's sometimes easier to make changes online than in person. Carriers offering both are Alaska Airlines, Allegiant Air, American Airlines, Delta Air Lines, Hawaiian Airlines, JetBlue Airways, Southwest Airlines, Spirit Airlines, and United Airlines, according to the DoT dashboard. It never hurts to request a meal or hotel during flight disruptions, and you might get lucky with a goodwill gesture from the carrier. For example, in the case of a winter storm, it's likely many passengers will end up stranded in random cities across the US.

☆ Here are Thursday's biggest analyst calls: Tesla, Amazon, Nike, Nio, Verizon, Disney, Snap & more
▼ + stars: | 2022-12-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Guggenheim names Nike a top 2023 pick Guggenheim said Nike's brand remains "healthy and strong." Bank of America names Amazon a top 2023 pick Bank of America said Amazon is a "share gainer" that will continue in 2023. " Morgan Stanley upgrades Verizon to overweight from equal weight Morgan Stanley said Verizon shares are "historically" attractive. Morgan Stanley downgrades AT & T to equal weight from overweight Morgan Stanley said it sees a more balanced risk/reward. Morgan Stanley downgrades Lockheed Martin to equal weight from overweight Morgan Stanley said it sees more "limited upside" for shares of the defense company. "

☆ A flight attendant who says she was fired by Spirit for being overweight is suing the airline
▼ + stars: | 2022-12-11 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

A flight attendant filed a lawsuit against Spirit Airlines claiming she was wrongfully terminated. Chelsia Blackmon claimed the airline fired her for being overweight, court documents showed. On October 8, the flight attendant was asked to buckle into a jump seat that was too small for her, according to the complaint. The flight attendant also said that the airline's actions "were in willful and malicious and in reckless disregard of her civil rights." Spirit Airlines and Blackmon's attorney didn't immediately respond to requests for comment from Insider.

☆ Spirit Airlines offers big raises to pilots in new contract - union memo
▼ + stars: | 2022-12-10 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +2 min

CHICAGO, Dec 9 (Reuters) - Spirit Airlines (SAVE.N) has offered as much as a 43% cumulative weighted average pay raise to its pilots over two years, according to a union memo seen by Reuters. It comes a week after Delta Air Lines (DAL.N) offered a 34% cumulative pay increase to its pilots over three years in a new contract. Overall, it would lead to a 34% cumulative weighted average increase in pay rates for Spirit pilots, the memo said. ALPA said the deal involves "zero concessions" on the part of Spirit pilots. ALPA said the proposed contract will cover 3100 Spirit pilots.

☆ Spirit Airlines reaches deal with pilots on new contract, union says
▼ + stars: | 2022-12-09 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +1 min

CHICAGO, Dec 9 (Reuters) - Spirit Airlines (SAVE.N) pilots have reached a tentative agreement with the company over a new contract, their union said in a statement on Friday. The agreement represents an economic gain of $463 million or 27% over the next two years for the pilots, the union said. The Air Line Pilots Association (ALPA), which represents pilots at the ultra-low-cost carrier, said the deal involves "zero concessions" on the part of Spirit pilots. "This agreement...stands in stark contrast to previous bargaining cycles at Spirit and other large jet carriers, where pilots have endured years of stagnating compensation while negotiating comprehensive pilot contracts," said Spirit's pilot union head Ryan Muller. The pilot union, however, declined to share more details of the deal.

☆ Here are Monday's biggest analyst calls: Apple, Amazon, Tesla, Netflix, Coinbase, Costco, Etsy & more
▼ + stars: | 2022-12-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan reiterates Apple as overweight JPMorgan said Apple's iPhone supply chain challenges appear to be moderating. JPMorgan reiterates Netflix as overweight JPMorgan said it sees a "heavily backend-weighted quarter" for Netflix. Morgan Stanley initiates Marriott as overweight Morgan Stanley said it likes how the hotel chain has transformed its business and that it sees a "further re-rating." Jefferies reiterates Amazon and Etsy as buy Jefferies said Amazon and Etsy will be winners this holiday shopping season. Morgan Stanley downgrades Silvergate to underweight from equal weight Morgan Stanley said in its downgrade of the crypto bank that it sees too many headwinds due to the FTX collapse. "

☆ Woman claiming to be relative of Chris Christie injures 6 deputies after getting kicked off plane, says sheriff's office
▼ + stars: | 2022-12-04 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Mirna-Alsharif-Byline-Jm.Jpg | Mirna Alsharif | ) www.nbcnews.com time to read: +1 min

A woman who claimed to be related to former New Jersey Governor Chris Christie injured six deputies after she was kicked off of a Spirit Airlines flight on Thanksgiving Day, according to the Jefferson Parish Sheriff’s Office. Epstein refused to exit the jet bridge connecting the plane to the terminal gate and "became extremely combative," Rivarde said. She started to fight the Jefferson Parish deputies and injured six of them -- one she bit on the arm and another she kicked in the groin. Epstein was arrested and handcuffed to a wheelchair as she continued to try to bite deputies. Epstein posted $10,750 bail and was released from the Jefferson Parish Correction Center the same day, according to Rivarde.

☆ Chris Christie's niece bit and kicked deputies trying to escort her off a Spirit Airlines flight after she asked passengers who she thought were Latino if they were 'smuggling cocaine,' report says
▼ + stars: | 2022-12-04 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +2 min

Shannon Epstein, the niece of former New Jersey Gov. Epstein reportedly asked passengers she thought were Latino if they were carrying cocaineEpstein had to be handcuffed to a wheelchair, The Times-Picayune reported. Before the plane's departure for New Jersey, Shannon Epstein reportedly made passengers uncomfortable after asking a family she perceived to be Latino if they were "smuggling cocaine," Capt. Epstein was released from Jefferson Parish Correctional Center the same day after paying $10,750 bail. The Jefferson Parish Police Department, Spirit Airlines, and representatives for Christie did not immediately respond to Insider's request for comment.

☆ Frontier Airlines no longer has a customer service phone line
▼ + stars: | 2022-11-26 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Customers who need flight information or want to make changes to travel plans can no longer call Frontier Airlines and speak to an agent, the company confirmed to CNN Saturday. Customers seeking help or information from the carrier must deal with an online chatbot, social media channels or WhatsApp. Customers who call the customer service phone number now are greeted with an automated message that says, “At Frontier, we offer the lowest fares in the industry by operating our airline as efficiently as possible. We also have a chat service available 24/7.”Its low-cost flight competitors, Spirit Airlines and Allegiant Airlines, still use call centers staffed by live agents. It’s no wonder Frontier wants to get rid of customer service over the phone.

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