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January 10, 2014
12:54 EDTAFLYY, AAWW, IAG, DLAKY, BAIRY, AAR, UALUnited, Atlas Air, British Airways among airlines fined by COMCO
Switzerland's Competition Commission, or COMCO, prohibits a price cartel in the context of air freight. Between 2000 and 2005 several airlines agreed on certain elements of the price for air freight transport. The COMCO fined the airlines 11 million Swiss Francs in total in connection with the agreement. The investigation of the Competition Commission revealed that the airlines had agreed on freight rates, fuel surcharges, war risk surcharges, customs clearance surcharges for the U.S. and the commissioning of surcharges. All those elements are part of the price that is charged for air freight transport. This is a horizontal price agreement case.The COMCO fines the following airlines: Korean Air Lines Co. Ltd., Atlas Air Worldwide Holdings (AAWW), AMR Corporation (AAR), United Continental Holdings (UAL), SAS AB, Japan Airlines Co., Ltd., Singapore Airlines Limited, Cathay Pacific Airways Limited, Cargolux Airlines International S. A., British Airways Plc (BAIRY) and Air France-KLM SA (AFLYY). The Deutsche Lufthansa AG, as part of the cartel, triggered the legal proceedings by self-denunciation. Thus this airline benefits from complete immunity from the sanction. As subsidiary of the Deutsche Lufthansa AG (DLAKY), Swiss International Air Lines AG also benefits from full immunity from the sanction. After the initiation of the legal proceedings, British Airways Plc., Cathay Pacific Airways Limited, Japan Airlines Co., Ltd., Air France-KLM SA and Cargolux Airlines International S.A. submitted leniency applications. These leniency applicants benefit from substantial reductions of the sanctions. Reference Link
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September 29, 2014
10:52 EDTDLAKYPilots union aiming for another strike to dispute Lufthansa, WSJ says
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06:44 EDTAFLYYAir France strike ceases, carrier to progress Transavia brand, Reuters says
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September 26, 2014
10:58 EDTUALFire at FAA Chicago facility prompts flight halts, WSJ says
After a fire occurred in the Federal Aviation Administration's primary Chicago air-traffic control facility Aurora Illinois, flights in and out of Chicago's main airports have ceased, according to The Wall Street Journal, citing comments from the FAA. Midway International Airport is a main hub for Southwest (LUV) while United Continental (UAL) operates a hub out of O'Hare International Airport. Reference Link
10:01 EDTAFLYYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actuant (ATU) downgraded to Market Perform from Outperform at FBR Capital... Air France-KLM (AFLYY) downgraded to Underperform from Hold at Jefferies... Beacon Roofing (BECN) downgraded at Longbow... China Unicom (CHU) downgraded to Hold from Buy at Deutsche Bank... Erickson (EAC) downgraded at Stifel... H.B. Fuller (FUL) downgraded to Neutral from Overweight at Piper Jaffray... Philip Morris (PM) downgraded at BofA/Merrill... Seadrill (SDRL) downgraded to Sell from Neutral at Goldman... Starwood Property (STWD) downgraded to Neutral from Buy at Compass Point... Steel Dynamics (STLD) resumed with a Neutral from Buy at Citigroup... Vale (VALE) downgraded to Neutral from Buy at Citigroup.
07:51 EDTAFLYYAir France calls on striking pilots to resume work
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05:35 EDTAFLYYAir France-KLM downgraded to Underperform from Hold at Jefferies
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September 25, 2014
06:58 EDTAFLYYAir France cancels Transavia project to end strike, Reuters says
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06:49 EDTAAWWAtlas Air management to meet with BB&T
Meetings to be held in San Francisco on October 1 and in Los Angeles on October 2 hosted by BB&T.
06:44 EDTDLAKYLufthansa, union discussions collapse, new strikes possible, Reuters says
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September 24, 2014
13:38 EDTAFLYYAir France says only planning to 'suspend' Transavia project, BBC says
Despite comments earlier from French Transport Secretary Alain Vidalies regarding Air France calling-off its plans to broaden its Transavia division, the airline company said that the announcement was "premature" and it had only motioned to suspend the project, according to BBC, citing comments from an Air France spokesman. The spokesman noted that the airline plans to reignite discussions with striking pilots over wages and conditions. Reference Link
06:37 EDTAFLYYMinister says Air France Transavia project called-off, Reuters says
France's Transport Minister Alain Vidalies said that Air France has called-off its plans to broaden its low-cost Transavia division due to the mounting pressure from a pilot's union strike, according to Reuters, citing comments from Vidalies. The move goes further than the project suspension that the airline's management initially sought. Reference Link
September 23, 2014
10:48 EDTUALUnited Continental and DoJ settle discrimination claim for $215K
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09:18 EDTUALCRT Capital believe long-term investors should buy Airlines aggressively
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06:39 EDTAFLYYAir France head feels demonstrations could ruin project, Reuters says
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September 22, 2014
11:55 EDTAFLYYSNPL union aims to maintain demonstrations vs. Air France, Reuters says
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11:45 EDTAFLYYUnions decline Air France proposal, strike presses on, Reuters says
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11:38 EDTAFLYYAir France aims to end strike, pace up Transavia development
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06:32 EDTAFLYYAir France head proposes to delay project to halt strike, Reuters says
In an effort to end the week-long pilots strike, French newspaper Le Monde Daily reported that Air France head Alexandre de Juniac proposed to delay the launch of its low-cost European operation until the end of FY14, according to Reuters, citing comments from de Juniac in the report. The demonstrations have cost the airline millions of euros daily. Reference Link
September 19, 2014
13:59 EDTAFLYYAir France pilots prolong strike to September 26, WSJ says
Pilots working for Air France's French division prolonged their strike until September 26, according to The Wall Street Journal, citing company officials. The demonstration has cost the company between EUR10M-EUR15M per day, ultimately forcing the airline to cancel nearly 60% of its flights since September 15. Reference Link
September 18, 2014
06:33 EDTAFLYYAir France pilots continue strike which started September 15, Reuters says
Air France pilots have maintained their stance in a disagreement regarding cost reductions by continuing their strike, which originally started four days ago, according to Reuters, citing comments from Air France CEO Alexandre de Juniac. The airline has been forced to cancel close to 60% of its flights due to the demonstration. Juniac said, "I am asking the pilots: come on board with us. Negotiations are not over, we are starting again this." Reference Link
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