According to an article in the Dallas Morning News, Southwest Airlines Co. has reported a loss of $16 million in the past three months. Southwest CEO, Gary Kelly cited special items such as employee reductions and fuel hedging as the cause of their financial losses.

The article said:

“The results included $66 million for the costs of an early-out program in which 1,400 employees accepted an offer to leave the company, or $27 million net of …

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The Dallas Morning News ran an article stating that Southwest Airlines Co. will bid $113.6 million to buy Frontier Airlines Holdings Inc., a rival airline known for its low costs and low fares that is now operating in bankruptcy.  According to Southwest officials, they’re taking advantage of a good opportunity to grow by actively courting the Denver-based carrier.

“We are excited about the opportunity to submit a bid,” Southwest …

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According to an article in the Star-Telegram, Frontier Airlines emerged from Chapter 11 bankruptcy under the new ownership of Republic Airways Holdings, Inc.  Republic gained control of the bankrupt airline with a $108.8 million bid in bankruptcy court, which included a plan for the cancellation of the airline’s old shares. But despite the bankruptcy buyout, Frontier still has a tough fight in its Denver hub which is a competitive market. Most …

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According to an article in the Star-Telegram, American Airlines has cut its fleet from 900 planes to 600. Because it has fewer planes, the company announced 700 job losses and the closure of its Kansas City maintenance base. The job losses will affect mechanics, engineers, management as well as union and non-union workers. No job losses have been announced for the Fort Worth maintenance facility; but if the airline industry continues to lose money …

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According to the Business Journal, Frontier Airlines won approval for their Chapter 11 bankruptcy reorganization plan.  The airline filed for Chapter 11 bankruptcy in April 2008 after its primary credit card processor First Data Corp failed to release money earned from the sales of tickets to customers, which threatened Frontier’s liquidity.

The article said:

“This is an extremely proud day for everyone in our company,” …

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According to an article in USA Today, airlines are taking a financial beating as the recession worsens and many travelers cutback due to job loss fears.

The article said:

Leisure travelers have been worried about losing their jobs. To lure nervous vacationers, carriers have slashed summer fares, and experts report some of the cheapest travel prices in years.

All the major U.S. carriers except Southwest lost money last …

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According to an article in the Dallas Morning News, Southwest Airlines Co. has reported a $91 million loss in the first quarter of 2009. This is one day after AMR, the parent company of American Airlines reported a $375 million loss for the first quarter of 2009. Southwest Airlines has taken swift action, stopping all hiring, freezing pay for senior executives and offering a buyout to nearly all of its employees to avoid implementing forced job …

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According to an article in the Star-Telegram, Southwest Airlines " recorded one of the worst financial performances in the company’s history during the fourth quarter, with a $56 million loss driven by fuel hedging contracts. "

This is clearly an "understatement." The Dallas-based airline actually posted a profit for $178 million for 2008. Sounds good, right? Not when you realize what they earned in 2007–$645 …

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According to an article in the Dallas Morning News, American Airlines in implementing job losses as it attempts to avoid bankruptcy and dig itself out of a financial hole. Approximately, 921 flight attendants at American Airlines will face unemployment, while 228 other employees will be furloughed.  Already, 224 employees have taken two-month involuntary leaves in lieu of job losses. In June, American Airlines warned that it would probably need to …

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According to an article in the Star-Telegram, American Airlines is implementing nearly 1,600 job losses due to drastic decreases in consumer demand for domestic and international flights. The company’s job losses come after yesterday’s announcement that it is cutting flights due to dropping consumer demand.

The article said:

At Dallas/ Fort Worth Airport, there will be 19 fewer American and American Eagle daily flights, with a total of 749 …

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According to an article in the Dallas Morning News, Delta and American Airlines are planning to reduce flights on several domestic and international routes due to drastic decreases in customer demand. The airlines’ most recent cuts could mean more job losses for the already beleaguered airline industry.

The article said:

“Customer demand for international travel has fallen significantly,” Bastian and Delta chief executive officer Richard Anderson told …

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… an article in the Dallas Morning News, Fort Worth based AMR Corp., parent company of American Airlines Inc., lost $375 million (15 percent of its revenue) in the first quarter of 2009.

The article said: “While lower fuel prices have provided a significant buffer against falling demand in 2009, the struggling economy and capital markets remain significant challenges for American and the rest of the industry,” AMR chairman and chief executive officer Gerard Arpey said. “Even as we …

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