Tag Archives: RDU

Frontier announces three new destinations from Raleigh/Durham

"Shelly, the Sea Turtle", delivered on October 14, 2017

Frontier Airlines is adding the new destinations from Raleigh/Durham International Airport (RDU). Beginning in July Frontier will operate flights from Raleigh to Harrisburg, Portland, Maine and Syracuse. Frontier will be the only airline offering nonstop service on these routes.

Frontier will now offer 18 nonstop destinations from RDU with service on nine new routes starting next week.

HARRISBURG (MDT) to/from RALEIGH/DURHAM (RDU)

F9 1183 Depart MDT: 12:42 p.m. Arrive RDU: 1:56 p.m.

F9 1182 Depart RDU: 2:46 p.m. Arrive MDT: 3:54 p.m.

Aircraft: Airbus A320

Frequency: Wednesday, Saturday

Service Start: July 21

PORTLAND (PWM) to/from RALEIGH/DURHAM (RDU)

F9 601 Depart PWM: 12:54 p.m. Arrive RDU: 2:59 p.m.

F9 602 Depart RDU: 3:49 p.m. Arrive PWM: 5:43 p.m.

Aircraft: Airbus A320

Frequency: Tuesday, Thursday, Sunday

Service Start: July 10

SYRACUSE (SYR) to/from RALEIGH/DURHAM (RDU)

F9 476 Depart SYR: 12:38 p.m. Arrive RDU: 2:23 p.m.

F9 477 Depart RDU: 3:13 p.m. Arrive SYR: 4:45 p.m.

Aircraft: Airbus A320

Frequency: Monday, Friday

Service Start: July 2

Copyright Photo: Frontier Airlines (2nd) Airbus A320-251N WL N316FR (msn 7824) (Shelly, the Sea Turtle) RDU (Ken Petersen). Image: 939661.

Frontier Airlines aircraft slide show: CLICK HERE

United to add new domestic routes for the summer

United Express-SkyWest Airlines Embraer ERJ 170-200LR (ERJ 175) N122SY (msn 17000431) RDU (Ken Petersen). Image: 935116.

United Airlines is adding eight domestic routes in June for the summer season:

Chicago O’Hare – Salina – 6 flights a week effective April 9, 2018 with SkyWest CRJ200s
Denver – Appleton – daily flights effective June 7, 2018 with Air Wisconsin CRJ200s
Denver – Norfolk – daily mainline flights effective June 7, 2018 with Airbus A319s
Houston (Bush Intercontinental) – Akron/Canton – daily flights effective June 7, 2018 with ExpressJet ERJ 145s
Houston (Bush Intercontinental) – Dayton – daily flights effective June 7, 2018 with ExpressJet ERJ 145s
Los Angeles – Eureka – daily flights effective June 7, 2018 with SkyWest CRJ200s
Newark – Rapid City – weekly flights effective June 17 through September 14, 2018 with Republic Airlines ERJ 175s
San Francisco – Madison – daily flights effective June 7, 2018 with SkyWest ERJ 175s (above)

The airline confirmed the new destinations with this announcement:

United Airlines (UAL) on January 8, 2018 announced it will begin new service between six of its domestic hubs and eight destinations in California, Ohio, North Dakota, South Dakota, Virginia and Wisconsin.

The new flights, starting June 7, offer customers hundreds of connection opportunities across United’s world-class domestic and international route network.

New year round service

Hub

New Destination

Frequency

Begins

Aircraft

Chicago (ORD)

Bismarck, ND (BIS)

2 flights daily

June 7

ERJ

Denver (DEN)

Appleton, WI (ATW)

Daily

June 7

CRJ

Denver (DEN)

Norfolk, VA (ORF)

Daily

June 7

A319

Houston (IAH)

Akron/Canton, OH (CAK)

Daily

June 7

ERJ

Houston (IAH)

Dayton, OH (DAY)

Daily

June 7

ERJ

Los Angeles (LAX)

Eureka, CA (ACV)

Daily

June 7

CRJ

San Francisco (SFO)

Madison, WI (MSN)

Daily

June 7

E175

New summer service to Rapid City, South Dakota

In addition to the new year round services, United announced it will offer the only nonstop flight between New York and Rapid City, South Dakota. Beginning June 23, United will start summer service between New York/Newark and Rapid City, making it easier for customers to access popular outdoor destinations including Mount Rushmore National Memorial, Badlands National Park and Wind Cave National Park. United’s Saturday-only service between New York/Newark and Rapid City will operate with Embraer E175 aircraft and will depart New York/Newark at 10:00 a.m. and arrive in Rapid City at 12:05 p.m.

Enhancing operations in Chicago

In February, United will begin operating its newly enhanced bank structure at O’Hare International Airport to shorten connection times and provide better access to more destinations for customers connecting through the carrier’s Chicago hub. This operations enhancement, already in place at United’s Houston hub, will enable United to greatly improve connectivity throughout its industry-leading global route network.

Copyright Photo: United Express-SkyWest Airlines Embraer ERJ 170-200LR (ERJ 175) N122SY (msn 17000431) RDU (Ken Petersen). Image: 935116.) RDU (Ken Petersen). Image: 935116.

United Express/SkyWest aircraft slide show:

FedEx Express and its pilots agree to a new contract

FedEx Express (Memphis) and its pilots, represented by ALPA, have finalized a new contract.

ALPA issued this statement:

ALPA logo-2

The pilots of FedEx Express, represented by the Air Line Pilots Association, Int’l. (ALPA), have approved a new contract agreement with FedEx management. The new agreement provides across-the-board increases to hourly pay rates and new-hire compensation, a significant signing bonus, retirement plan enhancements, work-rule improvements, and other positive modifications.

Copyright Photo: Ken Petersen/AirlinersGallery.com. Airbus A300B4-622R (F) N686FE (msn 804) departs from Raleigh-Durham International Airport (RDU).

FedEx Express aircraft slide show: AG Airline Slide Show

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JetBlue adds Wi-Fi to its first Embraer 190

JetBlue Airways (New York) today announced it has passed a major milestone on its path to becoming the only U.S. carrier to offer free high-speed Wi-Fi Internet on every aircraft.

JetBlue has completed installation of Fly-Fi® on its fleet of more than 150 Airbus A320 and A321 aircraft, and its first Fly-Fi-enabled Embraer E190 made its official inaugural flight this week. The airline anticipates it will complete the installation of Fly-Fi on all 60 of its E190s by fall 2016, at which point it will have completed installation of Fly-Fi on the entire JetBlue fleet.

Fly-Fi uses Ka-band satellite technology to offer a broadband Internet experience similar to what customers have at home, including the ability to stream video and use multiple devices at once.

Copyright Photo: Ken Petersen/AirlinersGallery.com. JetBlue Airways Embraer ERJ 190-100 IGW N334JB (msn 19000446) in the Barcode tail scheme taxies at Raleigh-Durham International Airport (RDU).

JetBlue aircraft slide show: AG Airline Slide Show

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Trans States Airlines’ pilots approve a three-year contract extension

Trans States Airlines-TSA (St. Louis) has issued this statement:

Trans States logo

Trans States Airlines is pleased to announce that its pilot group has passed a Tentative Agreement on a three year contract extension. The Trans States Airlines pilots are represented by the Air Line Pilots Association, International (ALPA). The Tentative Agreement, which was unanimously recommended by the ALPA Master Executive Council (MEC) for a rank and file vote, passed with 71% of voting pilots voting in favor of the contract extension. The new contract increases first year pay to $35.81 per flight hour, and includes increases in cost-of-living pay and the pilots’ per diem rate. It also increases the company’s 401(K) contributions and decreases pilots’ health insurance costs.

The new contract will go into effect on October 1, 2015.

Trans States Airlines operates a fleet of Embraer 145 aircraft on behalf of United Airlines (as United Express) and American Airlines (as American Eagle). Trans States is one of the fastest growing regional airlines in the country, with 52 additional Embraer 145 aircraft scheduled for delivery starting in 2015. Trans States expects to serve over 3.6 million passengers in 2015, with approximately 237 daily flights to over 70 cities in North America. Headquartered in St. Louis, Missouri, Trans States has crew domiciles in St. Louis (STL), Chicago (ORD), Washington D.C. (IAD) and Denver (DEN). Trans States will open a fifth crew domicile in Raleigh-Durham (RDU) in 2016.

Copyright Photo: Ken Petersen/AirlinersGallery.com. Formerly operating as an AmericanConnection carrier, Trans States now operates some former Envoy Air Embraer ERJ 145s under the American Eagle brand. Trans States Airlines Embraer ERJ 145LR (EMB-145LR) N835HK (msn 145670), originally with TSA, arrives in Raleigh-Durham (RDU).

American Eagle-Trans States aircraft slide show: AG Airline Slide Show

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JetBlue Airways becomes a pathway for ExpressJet Airlines pilots

ExpressJet Airlines (Atlanta) has announced a new partnership with JetBlue Airways (New York) through the JetBlue University Gateway Program to offer qualified students and current pilots a clear pathway to a career at JetBlue.

ExpressJet 2011 logo

The partnership expands on an earlier agreement with JetBlue to create three distinct pathways from an Aviation Accreditation Board International (AABI) partner school to ExpressJet to JetBlue:

JetBlue Blueberries logo

ExpressJet to JetBlue: Graduate AABI partner school and serve as a flight instructor for one year to meet Airline Transport Pilot (“ATP”)/Restricted Airline Transport Pilot (“R-ATP”) minimums >> Serve as a first officer at ExpressJet for at least 3,000 hours and 36 months for at least 4,000 hours total flight time >> Interview and begin training at JetBlue.

Cape Air logo

ExpressJet to Cape Air to JetBlue: Graduate AABI partner school and serve as a flight instructor for one year to meet ATP/R-ATP minimums >> Serve as a first officer at ExpressJet for at least 1,800 hours and 24 months >> Serve as a captain at Cape Air for at least 1,000 hours and 12 months for at least 3,800 hours total flight time >> Interview and begin training at JetBlue

Cape Air to ExpressJet to JetBlue: Graduate AABI partner school and serve as a flight instructor for one year >> Serve as a captain at Cape Air for at least 1,000 hours and 18 months >> Serve as a first officer at ExpressJet for at least 1,800 hours and 18 months for at least 3,800 hours total flight time >> Interview and begin training at JetBlue

In addition, this new partnership will offer current ExpressJet pilots who meet all program requirements an additional option for career advancement.

The new ExpressJet pathways join the long-standing partnership between Cape Air and JetBlue. The Cape Air to JetBlue pathway requires graduation from an AABI partner school, flight instructor experience and at least 2,500 hours and 24 months at Cape Air for at least 3,200 total flight hours, plus a jet transition course before an interview at JetBlue.

Pilots in the Gateway program must meet a defined set of criteria, including regular performance reviews, and successfully complete new hire interviews at each airline in the path they choose. In addition, for the University Gateway Program, pilots must attend Auburn University, Bridgewater State University, Embry Riddle Aeronautical University (Daytona and Prescott campuses), Inter-American University of Puerto Rico, Jacksonville University and the University of North Dakota. For the Advanced Gateway, pilots who graduated with an accredited major and flight training from any AABI school are eligible. For more information, visit http://www.futurebluepilots.com.

ExpressJet Airlines is a wholly owned subsidiary of SkyWest, Inc., and operates an average of more than 1,800 daily flights and an all-jet fleet of Embraer and Bombardier aircraft. Through capacity purchase agreements, ExpressJet operates as American Eagle, Delta Connection and United Express to serve 190 airports in the U.S., Mexico, Canada and the Caribbean.

Copyright Photo: Ken Petersen/AirlinersGallery.com. Embraer ERJ 145XR (EMB-145XR) N11109 (msn 145657) operating for United lands at Raleigh-Durham.

United Express-ExpressJet aircraft slide show: AG Airline Slide Show

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Allegiant to add three new routes from Mesa, Arizona

Allegiant Air (Las Vegas) is adding nonstop service to Mesa, Arizona (near Phoenix) from Des Moines, Fresno and Memphis beginning on December 17, 2015.

New year-round routes announced to Phoenix-Mesa Gateway Airport (AZA) include:

1. Fresno, California – starts December 17, 2015
2. Memphis, Tennessee – starts December 17, 2015
3. Des Moines, Iowa – starts December 18, 2015

The new flights will operate twice weekly and expand on the service Allegiant currently operates to Phoenix-Mesa Gateway Airport (AZA).

Copyright Photo: Ken Petersen/AirlinersGallery.com. Airbus A320-214 N217NV (msn 1347) arrives at Raleigh-Durham (RDU).

Allegiant Air aircraft slide show: AG Airline Slide Show

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FedEx pilots’ union leadership approves the the tentative agreement

The FedEx Master Executive Council (MEC), the governing body of the FedEx Express (Memphis) unit of the Air Line Pilots Association, Int’l (ALPA), voted to approve the tentative contract agreement reached on August 19 with FedEx management.

ALPA logo-2

The agreement now goes before more than 4,000 FedEx pilots eligible to vote in balloting that is scheduled to begin September 28, 2015, and close on October 20, 2015.

The new agreement provides across-the-board increases to hourly pay rates and new-hire compensation, a significant signing bonus that addresses the time elapsed since the agreement was amendable, retirement plan enhancements, and work-rule improvements. If ratified, the contract will go into effect November 2015 and would become amendable in 2021.

Copyright Photo: Ken Petersen/AirlinersGallery.com. Airbus A300B4-622R (F) N728FD (msn 581) climbs away from Raleigh-Durham International Airport (RDU).

FedEx Express aircraft slide show: AG Airline Slide Show

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Republic Airways Holdings’ second quarter net income drops to $4.3 million due to “operational reliability”

Republic Airways Holdings Inc. (Republic Airlines and Shuttle America) (Indianapolis) reported its financial and operational results for the second quarter of 2015.

Republic Airways Holdings logo

Republic’s pre-tax income for the second quarter of 2015 was $9.1 million, compared to $33.3 million for the prior year’s second quarter. Republic’s net income for the second quarter of 2015 was $4.3 million, or $0.08 per diluted share compared to prior year net income of $20.1 million or $0.38 per diluted share. The effective tax rate of 52.7% for the quarter was higher than the normalized tax rate, primarily due to the impact of miscellaneous non-deductible expenses.

The second quarter 2015 financial results were negatively impacted by a significant reduction in operational reliability. The Company’s controllable completion factor and operating revenues were significantly lower than expected due to a high number of pilot related cancellations as a result of the growing national pilot labor shortage and our on-going labor dispute with International Brotherhood of Teamsters (IBT).

The second quarter results were also negatively impacted by fleet transition costs and idled aircraft costs totaling $10.8 million associated with our removal of E190 and Q400 aircraft and surplus E145 aircraft.

Recent Business Developments

On July 9, 2015, the IBT, representing Republic’s pilots, filed suit against the Company alleging that the Company unilaterally increased compensation for pilots and new hires in violation of the Railway Labor Act. We believe the suit is without merit, and the Company has filed a motion to dismiss. The motion is currently pending.

On July 24, 2015, the Company announced the engagement of Seabury Group as its advisor to restructure the Company’s operational and financial commitments and explore all options to maintain the Company’s enterprise value. The Company has initiated discussions with its CPA partners to further reduce flying schedules during the second half of 2015 and 2016. In light of the anticipated fleet reductions, the Company rescinded all previously issued financial and operational guidance on July 24, 2015.

On August 6, 2015, the Company received notice from the National Mediation Board scheduling the next mediated session on August 20, 2015, with the IBT National Airline Division, IBT Local 357, and the Company.

Concerning fleet news, Republic reported:

Operating aircraft at period end:

44-50 seats  *1                        41 in service on June 30, 2015 versus 45  a year ago (8.9% drop)
69-99 seats  *2                     201 in service on June 30, 2015 versus 192 a year ago  (4.7% increase)

*1 Excludes 11 owned E140 aircraft that were abandoned and four leased E140 aircraft that were permanently parked, seven owned and nine leased E145 aircraft that were temporarily parked, and one owned E135 aircraft and eight owned E145 aircraft that are leased to other operators, as of June 30, 2015. Excludes 11 owned E140 aircraft that were abandoned, 11 leased E145 aircraft and two owned E145 aircraft that were temporarily parked as of June 30, 2014.

*2 Excludes five leased Q400 aircraft, of which; three were temporarily parked and two that were transitioned to Flybe and three owned E170 aircraft that are leased to other operators, as of June 30, 2015. Excludes two temporarily parked E190 aircraft as of June 30, 2014.

Read the full report: CLICK HERE

Copyright Photo: Ken Petersen/AirlinersGallery.com. The Bombardier DHC-8-402s (Q400s) operated by Republic Airlines (2nd) as an United Express carrier are gradually being phased out. The last of the type is expected to be removed from the United CPA contract in September 2016. However this come sooner with the on-going pilot dispute and the shortage of pilots. The company is discussing ways it can mitigate the shortage. DHC-8-402 (Q400) N336NG (msn 4336) arrives at Raleigh-Durham.

United Express-Republic aircraft slide show: AG Airline Slide Show

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American Airlines Group reports its highest quarterly profit in company history

American Airlines Group (American Airlines and US Airways) today (July 24) issued this financial statement for the second quarter:

American Airlines Group logo

American Airlines Group Inc. (AAL) today reported its second quarter 2015 results.

  • Reported record quarterly net profit of $1.9 billion excluding net special charges, a 27 percent increase versus the second quarter 2014
  • Reported record quarterly GAAP net profit of $1.7 billion, a 97 percent increase versus last year’s second quarter
  • Repurchased over $750 million of common stock and authorized an additional $2 billion share repurchase program
  • Declared a dividend of $0.10 per share to be paid on August 24, 2015, to shareholders of record as of August 10, 2015

American Airlines Group’s second quarter 2015 net profit, excluding net special charges, was a record $1.9 billion, or $2.62 per diluted share versus a second quarter 2014 net profit excluding net special charges of $1.5 billion, or $1.98 per diluted share. The Company’s second quarter 2015 pretax margin excluding net special charges was a record 17.2 percent, up 4.4 percentage points from the same period last year.

On a GAAP basis, the Company reported a record net profit of $1.7 billion, or $2.41 per diluted share. This compares to a GAAP net profit of $864 million in the second quarter 2014, or $1.17 per diluted share.

See the accompanying notes in the Financial Tables section of this press release for further explanation, including a reconciliation of GAAP to non-GAAP financial information.

“Reporting the highest quarterly profit in our history is another indication that our team is on the path to restoring American as the greatest airline in the world,” said Chairman and CEO Doug Parker. “These results are especially remarkable considering the significant and successful work underway to integrate two airlines. The more than 100,000 dedicated team members of American Airlines are doing a phenomenal job and we are grateful for their commitment to our customers.”

Revenue and Cost Comparisons

Total revenue in the second quarter was $10.8 billion, a decrease of 4.6 percent versus the second quarter 2014 on a 1.9 percent increase in total available seat miles (ASMs). Consolidated passenger revenue per ASM (PRASM) was 13.57 cents, down 6.9 percent versus the second quarter 2014. Consolidated passenger yield was 16.28 cents, down 6.1 percent year-over-year.

Total operating expenses in the second quarter were $8.9 billion, a decrease of 10.5 percent compared to the second quarter 2014, due primarily to a 36.9 percent decrease in consolidated fuel expense. Second quarter mainline cost per available seat mile (CASM) was 11.87 cents, down 12.8 percent on a 1.5 percent increase in mainline ASMs versus the second quarter 2014. Excluding net special charges and fuel, mainline CASM was 8.77 cents, up 2.5 percent compared to the second quarter 2014. Regional CASM excluding special charges and fuel was 16.02 cents, up 1.4 percent on a 5.5 percent increase in regional ASMs versus the second quarter 2014.

Cash and Investments

As of June 30, 2015, the Company had approximately $9.7 billion in total cash and short-term investments, of which $747 million was restricted. The Company also had an undrawn revolving credit facility of $1.8 billion.

American continues to invest in its product. As part of an extensive fleet renewal plan that has made American’s fleet the youngest of any U.S. network airline, the Company expects to spend $5.4 billion on new aircraft this year. During the second quarter, the Company took delivery of 24 new mainline aircraft and nine new regional aircraft and retired 34 older mainline and eight older regional aircraft. In addition to this fleet renewal program, American is in the midst of investing $2 billion to further enhance its product, including improvements to aircraft interiors, international Wi-Fi connectivity and upgrades to its Admirals Club lounges.

In the second quarter, the Company returned $823 million to its shareholders through the payment of $70 million in quarterly dividends and the repurchase of $753 million of common stock, or 17.3 million shares, at an average price of $43.53 per share. When combined with the dividends and shares repurchased during the first quarter, the Company has returned approximately $1.1 billion to its shareholders in the first half of 2015, including $943 million of shares repurchased under the existing $2 billion share repurchase program approved in January 2015.

Due to the Company’s strong financial performance, its projected cash flow and the repurchase activity to date, the American Airlines Group Board of Directors has authorized an additional $2 billion share repurchase program to be completed by December 31, 2016. This brings the total amount of share repurchase programs authorized in 2015 to $4 billion. The Company also declared a dividend of $0.10 per share to be paid on August 24, 2015, to shareholders of record as of August 10, 2015.

Share repurchases under the share repurchase program may be made through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades or accelerated share repurchase transactions. Any such repurchases will be made from time to time subject to market and economic conditions, applicable legal requirements and other relevant factors. The program does not obligate the Company to repurchase any specific number of shares or continue a dividend for any fixed period, and may be suspended at any time at the Company’s discretion.

Approximately $629 million of the Company’s unrestricted cash and short-term investment balance was held in Venezuelan bolivars. This balance includes approximately $621 million valued at 6.3 bolivars per U.S. dollar and approximately $8 million valued at 12.8 bolivars per U.S. dollar, with the rate depending on the date the Company submitted its repatriation request to the Venezuelan government. These rates are materially more favorable than the exchange rates currently prevailing for other transactions conducted outside of the Venezuelan government’s currency exchange system.

During 2014, the Company significantly reduced capacity in the Venezuelan market and is no longer accepting bolivars as payment for airline tickets. The Company is monitoring this situation closely and continues to evaluate its holdings of Venezuelan bolivars for additional foreign currency losses or other accounting adjustments, which could be material, particularly in light of the additional uncertainty posed by the recent changes to the foreign exchange regulations and the continued deterioration of economic conditions in Venezuela. More generally, fluctuations in foreign currencies, including devaluations, cannot be predicted by the Company and can significantly affect the value of its assets located outside the United States. These conditions, as well as any further delays, devaluations or imposition of more stringent repatriation restrictions, may materially adversely affect the Company’s business, results of operations and financial condition.

Special Items

In the second quarter, the Company recognized $150 million in net special charges, including:

  • $231 million in merger related integration expenses, including $221 million in mainline special charges and $10 million in regional special charges
  • $77 million in net special credits, including a $68 million credit for bankruptcy related items, principally consisting of fair value adjustments for bankruptcy settlement obligations
  • $11 million non-operating net special credits comprised of a $22 million gain associated with the sale of an investment, offset in part by $11 million in charges principally related to non-cash write offs of unamortized debt discount and debt issuance costs associated with refinancing the Company’s secured term loan facilities
  • $7 million in tax special charges related to certain indefinite-lived intangible assets

Notes:

(1) The 2015 second quarter mainline operating special items totaled a net charge of $144 million, which principally included $221 million of merger integration expenses related to information technology, professional fees, severance, share-based compensation, fleet restructuring, re-branding of aircraft and airport facilities, relocation and training. These charges were offset in part by a net $68 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations. The 2015 six month period mainline operating special items totaled a net charge of $447 million, which principally included $437 million of merger integration expenses as described above and a net $99 million charge related to the Company’s new pilot joint collective bargaining agreement. These charges were offset in part by a net $73 million credit for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations.

The 2014 second quarter mainline operating special items totaled a net charge of $251 million, which principally included $163 million of merger integration expenses related to information technology, professional fees, severance, share-based compensation, re-branding of aircraft and airport facilities, relocation and training as well as a net $38 million charge for bankruptcy related items primarily consisting of fair value adjustments for bankruptcy settlement obligations and $37 million in charges related to the buyout of leases associated with certain aircraft. The 2014 six month period mainline operating special items totaled a net charge of $114 million, which principally included $365 million of merger integration expenses, $40 million in charges primarily related to the buyout of leases associated with certain aircraft and a net $5 million charge for bankruptcy related items, all as described above. These charges were offset in part by a $309 million gain on the sale of Slots at Ronald Reagan Washington National Airport.

(2) The 2015 and 2014 second quarter and six month period regional operating special items principally related to merger integration expenses.

(3) The 2015 second quarter nonoperating special items totaled a net credit of $11 million and primarily included a $22 million gain associated with the sale of an investment, offset in part by $11 million in charges principally related to non-cash write offs of unamortized debt discount and debt issuance costs associated with refinancing the Company’s secured term loan facilities. The 2015 six month period nonoperating special items totaled a net credit of $19 million and principally included the $22 million gain associated with the sale of an investment as described above and a $17 million early debt extinguishment gain associated with the repayment of American’s AAdvantage loan with Citibank. These special credits were offset in part by $20 million in charges principally related to non-cash write offs of unamortized debt discount and debt issuance costs associated with the debt refinancing as described above and the prepayment of certain aircraft financings.

The 2014 second quarter and six month period nonoperating special items were primarily due to non-cash interest accretion of $2 million and $33 million, respectively, on bankruptcy settlement obligations.

(4) The 2015 second quarter and six month period tax special items were the result of a non-cash deferred income tax provision related to certain indefinite-lived intangible assets.

During the 2014 second quarter, the Company sold its portfolio of fuel hedging contracts that were scheduled to settle on or after June 30, 2014. In connection with this sale, the Company recorded a special non-cash tax provision of $330 million in the second quarter of 2014 that reversed the non-cash tax provision which was recorded in other comprehensive income (OCI), a subset of stockholders’ equity, principally in 2009. This provision represents the tax effect associated with gains recorded in OCI principally in 2009 due to a net increase in the fair value of the Company’s fuel hedging contracts. In accordance with Generally Accepted Accounting Principles, the Company retained the $330 million tax provision in OCI until the last contract was settled or terminated. In addition, the Company recorded a special $7 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets in the 2014 second quarter. The 2014 six month period included the $330 million non-cash tax provision related to the settlement of fuel hedges discussed above as well as a special $15 million non-cash deferred income tax provision related to certain indefinite-lived intangible assets.

Read the full report: CLICK HERE

Copyright Photo: Ken Petersen/AirlinersGallery.com. American Airlines and US Airways are already operating under a single AOC. However the last US-coded flight will be flight US 434, a red-eye flight from San Francisco to Philadelphia, on October 17, 2015. After that date, all mainline flights will operate under the AA code. Former US Airways Airbus A319-112 N741UW (msn 1269), operated under the US code but now painted in American’s new 2013 livery, approaches the runway at Raleigh-Durham International Airport (RDU).

American Airlines (current livery only): AG Airline Slide Show

US Airways aircraft slide show: AG Airline Slide Show

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