US Department of Transportation (DoT) announced (09-Feb-2010) it has tentatively decided to grant the waiver requested by Delta Air Lines and US Airways to allow the carriers to proceed with their proposed slot swap transaction at Reagan Washington National Airport and New York's LaGuardia Airport. The proposed waiver is contingent on the requirement that the airlines divest 20 of the 125 slot pairs involved at New York-LaGuardia and 14 of the 42 slot pairs at Washington-National. [more - DoT] [more - US Airways/Delta][more - Perspective]
DOT tentatively grants Delta/US Airways slot waiver
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jetBlue Airways makes strategic competitive moves as it contemplates longer-term route development
jetBlue Airways has drawn attention during the last few weeks as it became the first US airline to operate commercial flights to Cuba in more than half a century, and from its growing consideration towards launching long haul flights to Europe. But behind those headline-grabbing events, jetBlue continues to grow from its points of strength in Fort Lauderdale, Boston and Orlando.
In early 2017 the airline plans to add strategic flights from those three focus cities, entering markets where ample competition already exists. However, as a major force in Fort Lauderdale, Boston and Orlando, jetBlue needs a presence in strategic markets from those airports. Its planned route additions are areas where jetBlue lacks service, and despite the vast competition, the airline needs to offer those route options to its customers.
A recent push by Delta Air Lines into jetBlue’s Boston focus city has not appeared to spook jetBlue. On the contrary – jetBlue’s ambitious growth from Boston continues unabated as it has declared a new daily peak-day departure target of 200.
Air Canada Part 2: Financial progress makes investment grade metrics more tangible
A decade ago it would have been unheard of for Air Canada to contemplate reaching an investment grade credit rating. The airline had emerged from bankruptcy protection, but was still struggling financially. It would teeter on the verge of another formal restructuring before setting out on a course to restructure its financial foundation – a process that has allowed the airline to improve its balance sheet and leverage.
Air Canada’s leverage targets for YE2018 will not meet the general proxy for an investment grade rating; however, its lower capital commitments and debt refinancing could create an opportunity for achieving that status beyond 2018.
Attaining an investment grade credit rating likely remains a longer term goal for Air Canada as its major financial goals in the short term remain paying down debt that is creeping up due to a fleet renewal, as well as funding growth to drive long-term shareholder value. More meaningful shareholder returns will likely occur once the company reaches what it deems as acceptable progress in debt management, and reaches a certain maturity level in growing its international network.
This is Part 2 in a two part series on Air Canada. Part 1 dealt with long haul LCC subsidiary, rouge.