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☆ Spring break gets pricey as travelers return to old booking habits
▼ + stars: | 2023-02-21 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Spring break travel demand is picking up, driving up airfare and hotel rates. Airlines, grappling with pilot shortages and aircraft delivery delays, have already limited capacity growth, which is keeping airfare up from last year. Now travelers are going back to booking patterns common before the pandemic, flying on peak days to traditional destinations, airline executives say. That makes it even more important for travelers to stay flexible if they're trying to save money to avoid spikes in fares. Spring break demand is "probably the best we've ever seen," Frontier Airlines CEO Barry Biffle said in an interview.

☆ Covid's 'legacy of weirdness': Layoffs spread, but some employers can't hire fast enough
▼ + stars: | 2023-02-20 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

A sign for hire is posted on the window of a Chipotle restaurant in New York, April 29, 2022. This points to a labor market that's still tight, particularly in service sectors that were hit hard earlier in the pandemic, such as restaurants and hotels. Consumer spending has remained robust and surprised some economists, despite headwinds such as higher interest rates and persistent inflation. "There's a difference between saying the labor market is tight and the labor market is strong," Kelly said. With interest rates rising and inflation staying elevated, consumers could pull back spending and spark job losses or reduce hiring needs in otherwise thriving sectors.

☆ United says it will make it easier for families to book seats with their children for free
▼ + stars: | 2023-02-20 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Airlines in recent years have been charging travelers to book "preferred" location seats on flights. President Joe Biden has called on lawmakers to "fast-track the ban on family seating fees," the White House said earlier this month. On a roundtrip between Newark, New Jersey, and Los Angeles in August, preferred seats on a United flight showed as $37 each way for one person. "Delta does not charge family seating fees and regardless of the ticket class purchased, will always work with customers on a case-by-case basis to ensure their family seating needs are met," a spokesman said in a statement on Monday. Preferred seats and its extra legroom section, Main Cabin Extra, open up the day of departure if they're needed, a spokesman told CNBC.

☆ FAA chief tells Senate that new procedures will avoid repeat of outage that halted U.S. flights
▼ + stars: | 2023-02-15 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

The Senate Commerce Committee hearing comes amid growing safety concerns about aviation safety after several close calls involving major U.S. airlines. The system failed when a contractor unintentionally deleted files during an update, the FAA has said. "After the incident, we implemented a synchronization delay to ensure that bad data from a database cannot affect a backup database," Nolen said in prepared remarks ahead of the hearing. Texas Sen. Ted Cruz, the committee's highest-ranking Republican, pressed Nolen on improvements to the NOTAM system: "Can a single screwup ground air traffic nationwide?" Nolen replied: "Could I sit here and tell you there will never be an issue on the NOTAM system?

☆ Boeing orders, deliveries slip in January, before massive Air India jetliner sale
▼ + stars: | 2023-02-14 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

A Boeing 737 MAX 10 airliner pauses while taxiing on the flight line before its first flight at Renton Municipal Airport on June 18, 2021 in Renton, Washington. Boeing 's aircraft orders and deliveries slipped in January from a month earlier. Boeing delivered 38 jetliners last month, 35 of them its bestselling 737 Max planes, down from a total of 69 planes in December. The delivery count was still was higher than the 32 planes Boeing handed over to customers in January 2022. Air India ordered at least 220 Boeing planes and 250 Airbus planes, making the combined sale the biggest aircraft order ever as airlines prepare for a further recovery in air travel as Covid pandemic travel concerns wane.

That number includes both rocket launches and capsule reentries, and has been steadily climbing. A Falcon Heavy rocket launches the USSF-67 mission on January 15, 2023 from NASA's Kennedy Space Center in Florida. "Air space is going to be a critical, critical issue," Isom said, calling on new industries to contribute to the cost of air traffic control. A graph of FAA-licensed or permitted commercial space launches (excludes launches licensed by other U.S. government agencies, such as NASA or the Department of Defense). Together they create a moving target for space launches and the commercial airlines eyeing the same air space.

☆ Southwest faces Senate hearing over holiday travel chaos
▼ + stars: | 2023-02-09 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Passengers check in for a Southwest Airlines Co. flight inside Terminal 1 at Los Angeles International Airport (LAX) in Los Angeles, California, on August 10, 2022. Southwest Airlines ' chief operations officer is scheduled to face questions from a Senate panel on Thursday over the carrier's December meltdown that stranded thousands of passengers over the holidays. Andrew Watterson plans to apologize for the travel chaos before the Senate Commerce Committee. The president of the Southwest Airlines Pilots Association, Casey Murray, will tell the panel that the carrier ignored warning signs about its operation, according to written testimony reviewed by CNBC. Core values were forgotten," Casey Murray said in written testimony ahead of Thursday's hearing.

☆ Investing in Space: Starship in the D.C. spotlight
▼ + stars: | 2023-02-09 | by ( Michael Sheetz | ) www.cnbc.com time to read: +2 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. I'm in D.C. for the 25th annual Commercial Space Transportation conference. CSF executive members are a veritable who's-who of U.S. space companies founded in the 21st century. So why does the space industry care so much about Starship's success (or failure) to reach orbit? Notably relevant to this conference's host, SpaceX still needs a license from the FAA to launch Starship.

☆ Southwest plans to tell Senate it's confident in its schedule after holiday meltdown
▼ + stars: | 2023-02-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Southwest Airlines plans to apologize before a Senate panel on Thursday over the carrier's December meltdown that stranded hundreds of thousands of travelers around Christmas. "In hindsight, we did not have enough winter operational resilience," Chief Operating Officer Andrew Watterson said in written testimony, which was reviewed by CNBC, ahead of Senate Commerce Committee hearing. The debacle made for an $800 million pretax hit and drove the carrier to a net loss last quarter. Watterson plans to tell the committee that the carrier has made short-term improvements to communicate more easily with crews when things go wrong and has improved tools that keep track of the operation's stability. With those mitigation tools, "we are confident in our flight network and the schedules we have published for sale," Watterson plans to say, according to the testimony.

☆ Delta raises employee pay 5%, second increase in a year
▼ + stars: | 2023-02-07 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Delta Air Lines is raising employee pay 5%, the second time its lifted staff pay in less than a year as a sharp rebound in travel boosts the carrier's profits and the U.S. labor market remains tight. Delta raised employee pay 4% in May, the first increases since before the pandemic. Delta said the new raises go into effect April 1 and apply to ground workers and flight attendants. The pay hikes do not apply to Delta's pilots, who are voting on a new contract proposal that includes 34% raises over four years. Atlanta-based Delta is also planning to pay its staff more than $550 million in shared profits later this month, Bastian said Tuesday.

One of Amazon 's key air cargo operators said Monday that the e-commerce giant is scaling back on flights this year, citing lower demand and slower economic growth. Air cargo rates, which surged in recent years due to port congestion and high demand for fast deliveries, have slumped. The International Air Transport Association said last month that air cargo demand in November was down nearly 14% from the year-ago period, while capacity fell 1.9%. Through Amazon Air, the company has built up a burgeoning air network to control more aspects of the delivery process and ensure faster delivery. WATCH: How the pandemic shifted how Boeing and airlines think about air cargo

☆ FAA proposes more than $1 million fine on United Airlines over preflight safety checks
▼ + stars: | 2023-02-06 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

United Airlines Boeing wide body 777-200 aircraft as seen during take off and flying phase, passing in front of the air traffic control tower while the plane is departing from Amsterdam Schiphol Airport AMS towards Houston IAH in the United States of America as flight UA21. The Federal Aviation Administration said Monday that it is proposing a more than $1.1 million penalty against United Airlines for allegedly failing to perform required fire-system safety checks on its Boeing 777s. United didn't immediately comment. Removal of the check resulted in United's failure to perform the required check and the operation of aircraft that did not meet airworthiness requirement," the FAA said in a statement. United had 96 Boeing 777s as of the end of 2021, making up about 11% of its total fleet, according to a securities filing.

☆ Southwest faces Senate hearing next week following holiday meltdown
▼ + stars: | 2023-02-03 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

John and Lori Ingoldsby, who drove to Denver after the first leg of their flight on Southwest Airlines was canceled, wait for a flight to finish their trip at Denver International Airport on December 28, 2022 in Denver, Colorado. Southwest Airlines ' chief operating officer, Andrew Watterson, will face questions from a Senate panel next Thursday about the carrier's holiday meltdown that stranded hundreds of thousands of travelers. Southwest said the hearing date overlapped with "a previous commitment" for CEO Bob Jordan. The incident has drawn increased scrutiny from Washington and capped a year of on-and-off disruptions in air travel, due to bad weather, staffing and technology issues. Sen. Maria Cantwell, D-Wash., the committee chair, had previously said she planned to hold a hearing on flight disruptions following Southwest's holiday travel chaos.

☆ Senators push for airline passenger protections after holiday travel meltdown
▼ + stars: | 2023-01-31 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Two Senate Democrats on Tuesday reintroduced legislation to strengthen airline passenger protections following a year of travel disruptions that was capped by chaos that stranded thousands of people over the December holidays. The Airline Passengers' Bill of Rights, which is co-sponsored by Sens. Sen. Maria Cantwell, D-Wash., is planning to hold a hearing on the latest airline disruptions in the coming weeks. The bills also follow a push by the Biden administration for stricter airline passenger rules, including for traveler refunds. Airlines for America, said its members, the largest U.S. carriers, "abide by — and frequently exceed – all DOT regulations regarding consumer protections."

☆ Winter weather disrupts hundreds of flights across Texas
▼ + stars: | 2023-01-31 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Delayed flights prepare to depart from Dallas-Fort Worth International Airport (DFW) on January 11, 2023 in Dallas, Texas. More than 1,000 U.S. flights were canceled Tuesday as winter weather hit Texas. Over 700 flights to and from American Airlines ' hub Dallas/Fort Worth International Airport were canceled, about 40% of the airport's schedule, according to FlightAware. Airlines lifted fees or fare differences for travelers affected by the weather if they can fly in early February instead. Airlines canceled 1,129 U.S. flights on Monday, about 4.6%, the biggest share since yearend holiday disruptions, according to FlightAware data.

☆ Boeing plans to add a new 737 Max production line to meet strong demand
▼ + stars: | 2023-01-30 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

An aerial view of the engines and fuselage of an unpainted Boeing 737 MAX airplane parked in storage at King County International Airport-Boeing Field in Seattle, Washington, June 1, 2022. Boeing said it plans to add a fourth 737 Max production line in the second half of next year as it targets higher output of its best-selling plane, an executive told staff on Monday. Boeing booked 700 orders for new 737 Max planes last year. Boeing still plans to operate three production lines at the Renton, Washington, 737 Max factory, Deal said. Boeing plans to hand over the last 747 it has produced to cargo carrier Atlas Air on Tuesday afternoon.

☆ 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 posts $220 million loss last quarter after holiday meltdown
▼ + stars: | 2023-01-26 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +2 min

Southwest Airlines reported a $220 million loss for the fourth quarter after the carrier’s holiday meltdown drove up expenses and cost it millions in revenue during what was expected to be the busiest travel period since the pandemic began. It forecast a first-quarter loss, citing current “revenue and cost trends,” while analysts have been anticipating a per-share profit of 19 cents for the current quarter, based on estimates compiled by Refinitiv. Southwest earlier this month said it canceled around 16,700 flights between Dec. 21 through Dec. 31 after severe winter weather swept through the U.S. The airline on Thursday said the mass cancellations hit its pretax results by $800 million, in line with its estimate earlier this month of a hit between $725 million and $825 million. Here’s how Southwest performed in the fourth quarter, compared with Wall Street expectations according to Refinitiv consensus estimates:Adjusted loss per share: 38 cents vs an expected loss of 12 cents.

Employees of American Airlines help check in passengers at Ronald Reagan Washington National Airport on January 11, 2023 in Arlington, Virginia. American Airlines ' fourth-quarter profit beat analysts' expectations as strong travel demand and high fares buoyed results during a turbulent holiday season. Quarterly revenue of $13.19 billion was up 16.6% from the same period in 2019, before the pandemic stymied travel. American earlier this month raised its revenue and profit estimates for its fourth quarter. Airline executives at Delta and United were similarly upbeat about 2023 bookings despite concerns about layoffs at major U.S. companies and economic weakness.

☆ Southwest forecasts lingering losses as bookings slow in wake of holiday meltdown
▼ + stars: | 2023-01-26 | by ( Leslie Josephs | ) www.cnbc.com time to read: +4 min

Analysts had been anticipating a per-share profit of 19 cents for the first quarter, based on estimates compiled by Refinitiv. Southwest's fourth-quarter loss compares with a $68 million profit during the same period in 2021. Here's how Southwest performed in the fourth quarter, compared with Wall Street expectations according to Refinitiv consensus estimates:Adjusted loss per share: 38 cents vs an expected loss of 12 cents. 38 cents vs an expected loss of 12 cents. Despite the rocky end of the year, Southwest reported a $539 million profit for 2022.

☆ Southwest's holiday meltdown brought $220 million in losses
▼ + stars: | 2023-01-26 | 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 EmailSouthwest's holiday meltdown brought $220 million in lossesCNBC's Phil Lebeau and Leslie Josephs join 'Power Lunch' to discuss Southwest airlines reporting a loss of $220 million in their fourth quarter.

☆ DOT is probing whether Southwest's schedules were 'unrealistic' during holiday meltdown
▼ + stars: | 2023-01-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

The Transportation Department said Wednesday that it is in the initial phase of an investigation of Southwest Airlines ' holiday meltdown and looking at whether the carrier's schedules was unrealistic. The company and labor unions have pointed to outmoded scheduling platforms that weren't designed to handle the number of flight changes that occurred over that period. "DOT is also probing whether Southwest executives engaged in unrealistic scheduling of flights which under federal law is considered an unfair and deceptive practice," a DOT spokesperson said. Transportation Secretary Pete Buttigieg has previously vowed to hold Southwest accountable for the disruptions, which left hundreds of thousands of travelers stranded. "Our holiday flight schedule was thoughtfully designed and offered to our Customers with the backing of a solid plan to operate it, and with ample staffing," Southwest said in a statement late Wednesday.

☆ 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."

☆ Boeing posts quarterly loss as labor and supply strains overshadow increase in jet demand
▼ + stars: | 2023-01-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: 1 min

Boeing posted a $663 million loss for the fourth quarter as supply chain issues weighed on results despite a rebound in aircraft sales and deliveries that drove up revenue. Airlines and aircraft manufacturers have benefited from a sharp recovery in air travel, one of the most affected industries from the Covid pandemic. But Boeing's leaders have been hesitant to ramp up aircraft production until the supply chain has stabilized. The company is producing 31 of its 737 jets a month and plans to increase that to about 50 per month in 2025 or 2026. Deliveries of those wide-body planes had been paused for around two years until this summer due to production flaws.

☆ Earnings playbook: What investors can expect out of Tesla, Microsoft and Boeing
▼ + stars: | 2023-01-22 | by ( Fred Imbert | ) www.cnbc.com time to read: +11 min

Tuesday Johnson & Johnson is set to report earnings before the bell, followed by a conference call at 8:30 a.m. What history shows: Johnson & Johnson has beaten earnings expectations 95% of the time, according to Bespoke Investment Group. Wednesday Boeing is set to report earnings before the bell, followed by a call with analysts at 10:30 a.m. What history shows: FactSet data shows Boeing has posted a greater-than-expected loss in the last five quarters. Tesla is set to report earnings after the close, with management set to hold a call at 5:30 p.m.

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