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AMR’s Hiring of Bankruptcy Advisers on Hold

January 27, 2012
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American Airlines parent AMR Corp. (AMR)’s effort to hire a group of legal and financial advisers for its bankruptcy was put on hold amid objections from unions and the U.S. government.

U.S. Bankruptcy Judge Sean Lane in Manhattan today said he would approve retaining advisers including Rothschild Inc. and Perella Weinberg Partners LP only on a temporary basis, pending agreement from the U.S. Trustee. Fort Worth, Texas-based AMR said it planned to return to court later to seek final approval to hire the firms.

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US Airways and Association of Flight Attendants Reach Tentative Agreement

January 27, 2012
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US Airways today announced that it has reached a tentative agreement on a new collective bargaining agreement with the Association of Flight Attendants (AFA), which represents the airline’s 6,700 mainline flight attendants. Details of the agreement will be made available by AFA.

“We are very pleased to have reached a tentative agreement with the AFA and thank the union leadership for their dedication in support of our flight attendants,” said Doug Parker, Chairman and CEO.

“We want to express our appreciation to the National Mediation Board and our mediator Jim MacKenzie, for his instrumental role in helping both parties reach a successful conclusion to our mediated negotiation sessions,” said Al Hemenway, US Airways’ vice president, Labor. “I would also like to thank the leadership of AFA for their hard work in helping us reach a tentative agreement with our exceptional flight attendants.”

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Airlines add Super flights, ease fares

January 26, 2012
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Patriots fans on a budget, take heart. Airlines have added flights between New England and Indianapolis, bringing down airfares that were averaging about $1,000 a few days ago.

Southwest Airlines is operating two special nonstop flights between T.F. Green Airport in Warwick, R.I., and Indianapolis over Super Bowl weekend – one leaving Green at 5 p.m. on Feb. 3 and one returning Feb. 6 at 11 p.m. The round trip cost: $725.

US Airways has added a handful of nonstop flights between Boston and Indianapolis – two on Feb. 3 and four on Feb. 6. Lowest price: $830.

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United, JetBlue Top Estimates With Higher Fares

January 26, 2012
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United Continental Holdings Inc. (UAL) and JetBlue Airways Corp. (JBLU) posted fourth-quarter results that exceeded analysts’ estimates as higher fares helped overcome rising fuel costs.
United’s profit excluding some items was $109 million, or 30 cents a share, which beat the 11-cent average of 14 estimates compiled by Bloomberg.

JetBlue’s net income almost tripled to $23 million, or 8 cents a share, topping analysts’ 4-cent average. JetBlue also said it’s freezing management hiring and pay to help hold down costs.

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