By Robert Herbst After losing over $5 billion last year, the airline industry is now on course to lose a similar amount for 2009. This projected loss comes after the airlines will…
Faced with higher fuel prices and falling passenger traffic, the airline industry is ailing. There are concerns that some carriers will go bankrupt if the situation does not improve by the holiday…
British Airways has announced it will cut its capital spending this year by another 20% to 580 million pounds. It is in the process of negotiating with its unions to significantly reduce…
These are the top pre-market analyst upgrades and downgrades we have seen this Thursday. There are going to be fewer and fewer research notes from now to what is most likely Tuesday…
Reuters: The US outlined new financial market reforms. Reuters: Obama lobbied MDs on his new healthcare package. Reuters: Russia hosted the first BRIC summit. Reuters: B of A’s (BAC) BlackRock (BLK) stake…
Reuters: Baclays (BCS) sold BCI to Blackrock (BLK) for $13.3 billion Reuters: WHO declared a flu epidemic Reuters: Congress bash Fed, Treasury, and B of A (BAC) on Merrill Reuters: US is…
All of the fuel-hedging, layoffs, capacity and route-cutting the airline industry did last year in an attempt to offset the rising price of fuel has gone for nothing. Delta (DAL) announced today…
The first week of May, crude moved around just over $50. Today it traded just above $69, a 38% increase over that period. Airline stocks have reacted badly to the news. No…
Reuters: China must balance growth and reducing greenhouse gases. Reuters: The Supreme Court has delayed Chrysler’s Chapter 11. Reuters: The US will allow 10 banks to repay TARP funds. Reuters: The Boston…
The International Air Transport Association has doubled its estimates for global airline industry losses compared to its figure of three months ago. That presages another round of carrier bankruptcies similar to these in…
Reuters: 3D is bringing a new dimension to the computer world. Reuters: The Supreme Court was asked to block Chrysler sale. Reuters: China bankers called for US sales of yuan bonds. Reuters: …
According to Reuters, Yahoo!’s (YHOO) profit dropped 80% and it will cut 5% of staff. Reuters reports that Chrysler bondholders offered to swap some debt for equity. Reuters reports that Geithner says…
According to Reuters, some members of Congress were unhappy with Defense budget cuts. Reuters reports that Americans are more optimistic about the economy since Obama came into office, according to a New…
Last summer, the airline industry looked like it was heading toward another rash of bankruptcies. Fuel costs were at record levels because of $147 oil. The economic slowdown was already reducing passenger…
Continuing jobless claims rose by 159,000 in the week ended Jan. 17 to a seasonally adjusted 4.78 million, the most since the government’s records began in 1967. The number of unemployed people…
