Tag Archives: AMR

Business, Finance, Occupation & Industry

Beware Another American Airlines Reservations Breakdown

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By 24/7 Wall St.

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The breakdown of the reservations system of AMR, parent of American Airlines, will not be the last for the company. Carrier mergers are notorious for the customer disruption they cause. As American marries U.S. Airways Group Inc. (NYSE: LCC), the likelihood of more reservations catastrophes grows.

The last two huge mergers of U.S. carriers are evidence that the recent American reservations debacle and other customer trouble will happen again.

The New York Times reported in mid-2011 that the Delta Air Lines Inc. (NYSE: DAL) buyout of Northwest created a customer disaster:

The airline had the worst record among large carriers for on-time arrivals last year, and it accounted for a third of all customer complaints, the worst of any airline, for categories like service and lost bags, according to the Transportation Department.

And Independent Traveler.com wrote about airline reservations systems:

The problems associated with merging the reservations systems of Delta and Northwest, and to an even greater degree United and Continental, were covered extensively in the travel press.

The United merger with Continental that created United Continental Holdings Inc. (NYSE: UAL) also showed how mergers can cause reservations system issues. The New York Times reported in its assessment of the recent American Air reservation system collapse:

Such nationwide breakdowns are rare but not unprecedented, particularly when airlines merge. United Airlines experienced similar problems last year when its reservation systems failed repeatedly as it merged them with those of Continental Airlines.

If a bankrupt AMR cannot maintain its own reservation system properly, it is easy to imagine how the same system could trigger similar problems, or even worse.

There are several things fliers can virtually bank on. Mergers cause a number of predictable events. Among them are layoffs, higher ticket prices, lower customer service standards and broken frequent flier systems. But at the top of the list is the most critical aspect of travel, as far as the passenger is concerned. Can he book a seat, get on the plane on which it is booked and actually take off to his destination?

Filed under: 24/7 Wall St. Wire, Airlines, Mergers & Acquisitions Tagged: DAL, LCC

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From: http://www.dailyfinance.com/2013/04/17/beware-another-american-airlines-reservations-breakdown/

Business, Finance, Occupation & Industry

Few Steps Remain in American Airlines, US Airways Merger

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By The Associated Press

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Matt Rourke/AP

By DAVID KOENIG

DALLAS — US Airways began studying a potential merger with American Airlines several months before American filed for bankruptcy protection in late 2011, according to papers filed Monday by the two companies.

The documents give a blow-by-blow account of how the merger was negotiated, including the thorny issues of how to share ownership of the merged company and who would run it.

The companies also revived a proposed $20 million severance deal for Tom Horton, the CEO of American parent AMR Corp. A federal judge had declined to approve the payout, finding that it violated a 2005 bankruptcy law, but he had left open the possibility that a payment could be reconsidered later.

US Airways Group Inc. (LCC), whose CEO, Doug Parker, will run the combined company, played up the importance of Monday’s filings with the bankruptcy court in New York and the U.S. Securities and Exchange Commission.

“With these materials filed, we are one step closer to completing the merger, which we expect to occur in the third quarter of this year,” US Airways officials said a memo to employees.

The bankruptcy court has already signaled approval for the merger, which would create the world’s largest airline. The deal faces only a few more hurdles, including approval from the U.S. Justice Department and US Airways shareholders.

AMR will have 60 days to win support among creditors for its reorganization plan. Major creditors were closely involved in negotiations leading to the merger announcement in February, so it seems unlikely that they would derail the plan that will be considered by U.S. Bankruptcy Judge Sean Lane.

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It’s less clear whether antitrust regulators in the Justice Department will impose major conditions on the deal. Regulators approved other big airline mergers — Delta and Northwest, United and Continental, Southwest (LUV) and AirTran — so industry analysts expect them to let this deal pass.

The Justice Department, however, could require the American-US Airways combination to give up takeoff and landing slots at Washington’s busy Reagan National Airport, where it would be the dominant carrier, and possibly slots in New York, too.

The company will be called American Airlines Group Inc. It is expected to operate more than 6,700 flights a day to 336 destinations in 56 countries and have about 100,000 employees. Based on current figures, American will emerge slightly bigger than United Airlines (UAL) and Delta Air Lines (DAL) in the number of miles flown by passengers, the usual standard for ranking carriers.

Parker will be chairman and CEO after Horton steps down as chairman in 2014. Parker would get $19.5 million if he is terminated by the new company for a reason other than misconduct, according to a separate filing

From: http://www.dailyfinance.com/2013/04/16/american-airlines-us-airways-merger/

Business, Finance, Occupation & Industry

March Was a Month to Forget for Airlines

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By Adam Levine-Weinberg, The Motley Fool

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It’s that time of the month again; time to review the major airlines’ unit revenue results. Several major airlines complained about deteriorating booking trends during March, particularly for pricier last-minute ticket purchases. Here are the results for the five top U.S. carriers:

Airline

Unit Revenue Gain

AMR

0.3%

Delta Air LInes

2.0%

Southwest Airlines

Flat

United Continental

6.5%-7.5%

US Airways

Flat

Source: airline press releases 

United Airlines was the clear winner in March, with an approximately 7% increase in unit revenue over March 2012. That was comparable to the company’s unit revenue gain in February. By contrast, every other airline reported a slowdown in unit revenue growth compared to February. Moreover, American, Southwest, and US Airways came dangerously close to posting year-over-year declines in unit revenue.

The consensus in the airline industry seems to be that the sequester is reducing demand for last-minute tickets. American, Delta, and US Airways all mentioned that demand for close-in bookings was lower than expected; Delta and US Airways attributed this specifically to the sequester. Government agencies are having to make do with smaller budgets, and travel budgets seem like an obvious target for cuts. Even when travel is essential, federal agencies may be able to save money by planning further in advance and securing cheaper tickets. Beyond the direct effect of lower government budgets, the sequester is also starting to weigh on the economy more broadly. The Labor Department’s March jobs report was much weaker than expected, and a stagnant economy is obviously bad for air travel demand.

Clear skies for United?
While United posted much better unit revenue growth than any of its competitors in March, I wouldn’t go rushing out to buy its shares just yet. First, United announced late last month that first-quarter costs had increased far more than the company had initially expected. Non-fuel unit costs are now expected to increase by 11.4%-12.4% for Q1. This guidance change quickly led to a dozen negative revisions to Q1 analyst estimates. Analysts now believe the company lost even more money last quarter than it did in Q1 of 2012.

Second, United’s industry-leading unit revenue growth in February and March was largely an artifact of easy comps from 2012. United changed its reservation system in early March last year, and the company deliberately sold fewer tickets for the weeks surrounding the system change. The goal was to lighten the burden on employees who were using the new reservation system for the first time by deliberately reducing traffic. (Despite this attempt to ensure a smooth transition, the system change went poorly and contributed heavily to United’s ranking at the bottom of the industry for customer service last year.)

United will have a harder time posting strong revenue growth this month. In fact, United (along with US Airways) has high market share in the Washington, D.C., area,

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Delta, Virgin Atlantic Seek Antitrust Immunity to Boost U.S.-U.K. Flights

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By Rich Duprey, The Motley Fool

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Seeking to become more effective competitors on routes between North America and the United Kingdom, Delta Air Lines and Virgin Atlantic Airways have filed an application with the U.S. Transportation Department seeking antitrust immunity for their new joint venture.

The companies said in a Monday press release announcing the filing that because 60% of the slots at London Heathrow Airport are currently controlled by a joint venture of AMR‘s American Airlines and British Airways, they dominate air travel between the U.S. and the U.K. Those two airlines previously received antitrust immunity allowing allowed them to coordinate their schedules and fares.

Combining Virgin’s Heathrow slots with Delta’s U.S. network will offer significant competition in the market and serve consumers on both sides of the Atlantic, the companies argue. Delta in December announced it is buying a 49% stake in Virgin from Singapore Airlines, with Virgin founder Richard Branson retaining a 51% ownership position. 

Delta President Ed Bastian said in Monday’s press release that “Approval of antitrust immunity would allow travelers to take full advantage of all the aspects of the Delta-Virgin joint venture and enjoy the benefits of increased competition, particularly on flights to and from London Heathrow Airport.”

Under the proposed joint venture, Delta and Virgin Atlantic would coordinate schedules, network planning, pricing, and revenue management functions, sales, and other aspects of their services between North America and the U.K.

The airlines are also seeking antitrust immunity for five-way coordination on U.K.-to-North America traffic among Delta, Virgin Atlantic, Air France, KLM, and Alitalia. Delta already operates a joint venture with the other three European airlines.

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The article Delta, Virgin Atlantic Seek Antitrust Immunity to Boost U.S.-U.K. Flights originally appeared on Fool.com.

Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

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Business, Finance, Occupation & Industry

Orbitz, American Airlines Agree to End Litigation

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By Tim Brugger, The Motley Fool

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A long-standing dispute between Orbitz and American Airlines has finally been resolved, the two companies announced Monday.

The companies said in a brief press release that the deal to “resolve all litigation between them” still needs court approval, and neither Orbitz nor American Airlines, the wholly owned subsidiary of AMR , would have further comment at this time.

At issue had been American Airlines‘ reluctance to provide flight and price information to Orbitz and others in the online travel industry, stating it could better serve its customers using travel agents. Orbitz, among other Web-based travel sites, claimed that American was attempting to circumvent the use of online travel sites altogether.

The new agreement requires approval from the judge presiding over AMR‘s current bankruptcy proceedings before it can be finalized.

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The article Orbitz, American Airlines Agree to End Litigation originally appeared on Fool.com.

Fool contributor Tim Brugger has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Read | Permalink | Email this | Linking Blogs | <a target=_blank href="http://www.dailyfinance.com/2013/04/02/news-orbitz-and-american-airlines-agree-to-end-lit/#comments" …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

3 Big Brand Names That Could Be Bought Out Next

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By Sean Williams, The Motley Fool

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With the stock market tipping the scales at new highs, there has been a veritable smorgasbord of merger and acquisition activity. In just the past few weeks we’ve seen the largest leveraged buyout in the technology sector since the recession with Silver Lake Partners and Michael Dell‘s ongoing battle to take PC maker Dell private for $24.4 billion. In the airline sector we had the drawn-out merger announcement between US Airways and American Airlines parent AMR, which is aimed at reducing flight overlap, trimming costs, and boosting operating efficiency.

But no deal stands out more notably to me than the $23.2 billion purchase of Heinz by the consortium of Berkshire Hathaway and Brazil‘s 3G Capital Partners. Heinz is a household condiment name — known best for its ketchups — and it just makes money! Businesses that “just make money” might be a little boring from a growth perspective, but they generally offer solid long-term prospects, have few fluctuations when the economy ebbs and flows, and are often on the radar of conglomerates looking to add a top-notch brand-name to their portfolio.

Today I want to examine three brand-name consumer-goods companies that I think could be next up on the auction block. Let’s make this clear: These are my best guesses, and I have nothing more to substantiate these claims beyond what I’m stating here, so don’t go clicking the “buy” button tomorrow just because I said I think it’s a buyout candidate without first digging deep into these companies for yourselves. Consider this the introduction to your homework!

Energizer Holdings
The bunny hasn’t had an easy go of things since the recession hit, as Energizer announced in November that it was slashing close to 10% of its 16,000 global workforce to save $200 million annually. But as the commercials always state, even if the times get tough, that little bunny just keeps going, and going, and going.

Energizer, which makes various sized batteries and razors for personal use, plans to use its $200 million in savings by investing a quarter of it in long-term growth initiatives, while also streamlining its current operations. In other words, competition in batteries has increased from Spectrum Holdings with its Rayovac brand, and the battle for razor supremacy is heating up between it and Procter & Gamble, which owns Gillette. Energizer has responded with solid cost-reducing and efficiency-improving measures that should continue to drive its cash flow regardless of the economic conditions.

Source: Morningstar, Figures in millions.

Why I think Energizer makes a compelling takeover candidate is pretty simple. First, it’s a global brand with sales in 50 countries. The further the reach of your product, the less fluctuation in sales if a region falters. Second, it sells products with inelastic prices and steady demand. You can shop around all you want, but the price of batteries isn’t going to change much, if at all, from one place to the next …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Emergency Medical Services to Host Conference Call for Debt Holders to Discuss Results of 4th Quarte

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By Business Wirevia The Motley Fool

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Emergency Medical Services to Host Conference Call for Debt Holders to Discuss Results of 4 th Quarter, Year Ended December 31, 2012

GREENWOOD VILLAGE, Colo.–(BUSINESS WIRE)– Emergency Medical Services Corporation (EMSC or the Company) today announced that it will host a conference call for bond/debt holders and other interested parties to discuss results for its fourth quarter and year ended December 31, 2012, on Thursday, March 21, 2013. The conference call will begin at 11:00 a.m. Eastern Daylight Time.

Interested parties wishing to participate in the call should contact the EMSC Investor Relations Department to obtain dial-in details via email at ron.cunningham@emsc.net.

An on-line replay will be available approximately one hour following the conclusion of the live broadcast on the Company’s website at www.emsc.net.

The Company filed its Annual Report on Form 10-K on March 12, 2013.

About Emergency Medical Services Corporation

Emergency Medical Services Corporation (EMSC) is a leading provider of emergency medical services in the United States. EMSC operates American Medical Response, Inc. (AMR), the Company’s healthcare transportation services segment, EmCare Holdings, Inc. (EmCare), the Company’s outsourced facility-based physician services segment and Evolution Health, LLC, the Company’s post-acute care services provider. AMR is the leading provider of ambulance services in the United States. EmCare is the leading provider of outsourced physician services to healthcare facilities. Evolution Health provides physician-led multidisciplinary care teams that provide post-acute care management for patients with advanced illness. In 2012, EMSC provided services in more than 14 million patient encounters in more than 2,100 communities nationwide. EMSC is headquartered in Greenwood Village, Colorado. For additional information, visit www.emsc.net.

Emergency Medical Services
Ron Cunningham, 303-495-1213
Ron.Cunningham@emsc.net

KEYWORDS:   United States  North America  Colorado

INDUSTRY KEYWORDS:

The article Emergency Medical Services to Host Conference Call for Debt Holders to Discuss Results of 4th Quarter, Year Ended December 31, 2012 originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

United Makes a Big February Comeback

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By Adam Levine-Weinberg, The Motley Fool

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United Airlines had a surprisingly strong February, leading the major airlines in unit revenue gains for the first time since 2011. Unit revenue is a key indicator of demand for airlines and has an important impact on profitability. It’s therefore helpful to follow the results they report each month. Here’s how the top five U.S. airlines did last month:

February Unit Revenue Performance for Top Five U.S. Carriers

Airline Unit Revenue Increase
AMR  4.7%
Delta Air LInes  5%
Southwest Airlines  2%
United Continental  6.5%-7.5%
US Airways  1%

Source: airline press releases.

Delta produced a solid gain as always and has been consistently in the top half of the industry for two years running. American Airlines parent AMR‘s gain shows that it’s continuing to gain traction, now that its future is more certain. During the month, AMR announced plans to merge with US Airways to form the world’s largest airline.

Future merger partner US Airways wasn’t so lucky, though. It brought up the rear last month, a result it attributed to its heavy exposure to the Northeast, where many schools canceled February vacations to make up for school days lost to Hurricane Sandy in the fall.

Finally, Southwest posted another lackluster performance in February. It has been integrating its AirTran acquisition very slowly, which may account for its recent underperformance. However, the company recently hit a milestone as it connected the two networks, which should improve results this spring and summer.

United’s surprise
United’s approximately 7% unit revenue increase was definitely the big news of the month, and it provides some comfort to investors that the company is finally outgrowing its merger pains. Investors sent United Continental stock up nearly 6% on Friday, to $31.35, its highest closing price since early 2008.

However, it would be rash to jump right in and buy United today on the basis of a single month of results. In 2012, United posted very weak unit revenue growth of 2% in February. The company stated at the time that its performance was negatively affected by 6% because of three factors: an accounting change in 2011, higher completion factor (i.e., fewer flights canceled because of weather or maintenance problems), and the integration of the United and Continental reservation systems.

These one-time effects hurt United in February (and, to a lesser extent, March) last year, creating an easier comparable figure to beat. Last month, United’s completion factor dropped to 98% from 99.2% in 2012, creating a unit revenue tailwind. United also shrank capacity by 8.4% (approximately 5% adjusting for the leap year); flying fewer seats tends to boost unit revenue, but it also increases unit costs. Since United plans to keep full-year capacity flat to down 1%, capacity reductions won’t provide such a significant tailwind going forward.

Conclusion
United’s performance last month was certainly stronger than expected, and the company should be given credit for that. However, I am still very skeptical about the company’s overall performance. There …read more
Source: FULL ARTICLE at DailyFinance

News, Politics, Government

American Airlines and US Airways agree to merge, create world's biggest airline

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American Airlines and U.S. Airways will formally announce they are mergingto create the world’s biggest airline after the companies’ boards separately approved a merger deal late Wednesday, sources tell The Wall Street Journal.

The merger will be formally announced Thursday morning, and court documents outlining all of the deal’s details are set to be filed the same day with the U.S. Bankruptcy Court in New York overseeing American’s reorganization, the sources said.

The carrier will keep the American Airlines name but will be run by US Airways CEO Doug Parker. American’s CEO, Tom Horton, will serve as chairman of the new company until mid-2014, sources told the Associated Press.

The deal has been in the works since August, when creditors pushed for merger talks so they could decide which earned them a better return: a merger or Horton’s plan for an independent airline. American has been restructuring under bankruptcy protection since late 2011.

American’s parent company AMR‘s creditors and possibly its shareholders will own 72 percent of the stock, and US Airways Group Inc. shareholders will get the rest.

If the deal is approved, the new American will have more than 900 planes, 3,200 daily flights and about 95,000 employees, not counting regional affiliates. It will be slightly bigger than United Airlines by passenger traffic.

Since 2008, Delta gobbled up Northwest, United absorbed Continental and Southwest bought AirTran Airways. If this latest merger goes through, American, United, Delta and Southwest will control about three-quarters of U.S. airline traffic.

The rapid consolidation has allowed the surviving airlines to offer bigger route networks that appeal to high-paying business travelers. And it has allowed them to limit the supply of seats, which helps prop up fares and airline profits.

Word of an American-US Airways merger raised new concern among passenger advocates. Charles Leocha of the Consumer Travel Alliance said that with just four big airlines instead of five, it will be easier to raise fares. “The benefits of this deal will go only to the corporations, not to consumers,” he said.

But industry officials say there will still be plenty of competition. A recent study by PricewaterhouseCoopers found that adjusting for inflation, domestic U.S. airfares fell 1 percent between 2004 and 2011, a period that included several airline mergers.

Travelers on American and US Airways won’t notice immediate changes. It likely will be months before the frequent-flier programs are combined and years before the two airlines are fully integrated.

When that happens, American’s presence will grow in key East Coast markets including New York‘s LaGuardia Airport and Washington’s Reagan National Airport. The merger will add US Airways hubs in Charlotte, Philadelphia and Phoenix to American’s in Dallas-Fort Worth, Chicago, Miami, New York and Los Angeles.

US Airways will boost American’s service to Europe and the Latin America-Caribbean market but wouldn’t fix American’s weakness on routes to Asia.

Just five years ago, American was the world’s biggest airline. It boasted a history reaching back 80 years to the beginning of air travel. It had popularized the frequent-flier program and developed the modern system of pricing airline tickets …read more
Source: FULL ARTICLE at Fox US News

Articles of Interest

American, US Air Close In on Merger

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By Matt Cantor The world could soon have a new biggest airline. American Airlines‘ parent AMR and US Airways are ironing out a merger that would surpass national leader United Continental in traffic, insiders tell the Wall Street Journal . The merger, part of American’s path out of bankruptcy, could create a firm with… …read more
Source: FULL ARTICLE at Newser – Home