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Monday, March 7, 2005

Quick Takes

  • Mesaba Aviation, a unit of MAIR Holdings [MAIR], reached a tentative settlement with its dispatchers' union. The contract with the Transport Workers Union (TWU) becomes amendable in May. Details on the settlement, which was submitted to the 23 dispatchers last week, were not disclosed.
  • US Airways [UAIRQ] will reduce its mainline fleet by 11 as it returns Boeing [BA] 737s to lessors beginning in May. By returning the aircraft, US Airways will reduce its flight schedule by 14. While the reduction will take place in May, the carrier has not released it spring schedule. Over the past six months, US Airways has increased its regional flying as it has decreased the size of its mainline fleet - it is not clear if there will be a similar increase in the spring schedule. The carrier said that system-wide it will increase the available seat miles (ASMs) by 4 to 8 percent this year.
  • Viva International [VIVI] last month purchased Cool Tours, a Part 135 carrier based in San Juan, Puerto Rico. For the last four years, Cool Tours has flown twin-engine turboprops on charters throughout the Caribbean. Viva, through its new subsidiary, Eastern Caribbean, will assume Cool Tour's debt and provide it with working capital. Cool Tours will begin to fly Saab 340s, and eventually corporate jets. Cool Tours will also fly some charter tours for Viva's Air Dominicana.
  • A unit of Warren Buffett's empire, Executive Jet Management, filed an application with the U.S. Department of Transportation (DOT) to operate as a scheduled commuter air carrier under Part 380, the public charter rules. Executive Jet will fly about 30 weekly round-trips between the Westchester County airport in suburban New York and Chicago Midway Airport. Another 10 weekly flights will be scheduled between the Westchester airport and a Los Angeles airport. Executive Jet has leases on 79 business jets with the largest capable for carrying 18 passengers. FAA Docket: OST-2005-20492.
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