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January 10, 2014
12:54 EDTAAR, IAG, BAIRY, AAWW, UAL, DLAKY, AFLYYUnited, 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
News For AFLYY;AAWW;IAG;DLAKY;BAIRY;AAR;UAL From The Last 14 Days
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December 18, 2014
10:41 EDTBAIRYIAG says Aer Lingus board rejected takeover proposal
International Consolidated Airlines Group (ICAGY) confirms that it submitted a proposal to make an offer for Aer Lingus, which has been rejected by the board of the company. IAG added, "There can be no certainty that any further proposal or offer will be forthcoming." IAG is the parent of British Airways (BAIRY). The Financial Times earlier today reported that IAG was considering a bid for Aer Lingus.
10:10 EDTBAIRYBritish Airways parent considers Aer Lingus takeover, FT reports
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December 17, 2014
15:12 EDTDLAKYIBM, Lufthansa get approval for IT services deal from EU Commission
The European Commission has approved under the EU Merger Regulation the acquisition of parts of Lufthansa Systems Aktiengesellschaft of Germany, a subsidiary of Deutsche Lufthansa (DLAKY), by a subsidiary of International Business Machines (IBM). The Lufthansa business to be acquired by IBM Central Holding provides certain IT services to the Lufthansa group. The European Commission concluded that the proposed acquisition would not raise competition concerns given the very limited overlaps between the parties' activities and the presence of several strong alternative players that would remain active after the merger.
December 15, 2014
11:45 EDTAAWWAtlas Air management to meet with FBR Capital
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07:57 EDTUALDeutsche ups targets on Airlines amid lower fuel prices
Deutsche Bank expects 2015 to be an even stronger year than 2014 for Airline stocks and believes carriers will continue to "share their growing wealth with their stakeholders." Deutsche sees lower fuel prices and reduced interest expense providing benefits in 2015. The firm raised its price target for Allegiant Travel (ALGT) to $174 from $150, for Hawaiian Holdings (HA) to $27 from $19, for JetBlue (JBLU) to $21 from $17, for Southwest (LUV) to $55 from $46, for Spirit Airlines (SAVE) to $95 from $85, for United Continental (UAL) to $80 from $50, for American Airlines (AAL) to $67 from $54 and for Alaska Air (ALK) to $53 from $42.50. Deutsche keeps a $60 price target on shares of Delta Air Lines (DAL). The firm has a Buy rating on all name in the space save for Alaska Air, which it rates Sell.
December 12, 2014
10:56 EDTUALNATS says London airspace open but capacity restricted
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10:25 EDTUALEurocontrol says London airspace closed after computer failure, CNBC reports
Publicly traded airlines include American Airlines (AAL), Delta Air Lines (DAL), JetBlue (JBLU), Southwest (LUV) and United Continental (UAL). Reference Link
December 11, 2014
06:35 EDTUALUnited's 23,000 flight attendants to get iPhone 6 Plus, Business Insider reports
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December 10, 2014
17:21 EDTUALAmerican Airlines, United Continental can reach new highs, Barron's says
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14:20 EDTUALUnited Continental providing 23,000 flight attendants with iPhone 6 Plus
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10:00 EDTUALOn The Fly: Analyst Upgrade Summary
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10:00 EDTAFLYYOn The Fly: Analyst Downgrade Summary
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09:23 EDTUALOn The Fly: Pre-market Movers
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06:00 EDTUALBarclays upgrades United, American amid lower oil prices
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05:39 EDTUALUnited Continental upgraded to Overweight from Underweight at Barclays
Barclays upgraded United Continental (UAL) two notches to Overweight from Underweight citing the benefits from lower oil prices. The firm raised its price target for shares to $76 from $52. The airliner closed yesterday down $1.73 to $62.52. Barclays also upgraded American Airlines (AAL) this morning to Overweight. Its top picks in the space are Spirit Airlines (SAVE), then American and United, followed by Delta Air Lines (DAL) and Southwest (LUV). It now has Overweight ratings on all four major U.S. airlines.
05:29 EDTAFLYYAir France-KLM downgraded to Sector Perform from Outperform at RBC Capital
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December 9, 2014
09:21 EDTUALOn The Fly: Pre-market Movers
UP AFTER EARNINGS: AutoZone (AZO), up 3.8%... Burlington Stores (BURL), up 3.3%. ALSO HIGHER: bluebird bio (BLUE), up 56.5% after price target raised at Piper Jaffray and SunTrust... Camtek (CAMT), up 6.7% after being awarded a $2.8M order from a semiconductor manufacturer... PDC Energy (PDCE), up 5.8% after providing fiscal 2015 production guidance... Mast Therapeutics (MSTX), up 3.1% after reporting that it will begin recruiting patients for MST-188 study in first half of fiscal 2015... Idera Pharmaceuticals (IDRA), up 1.4% after announcing data for its lead product candidate, IMO-8400. DOWN AFTER EARNINGS: UTi Worldwide (UTIW), down 10.8%... CONN'S (CONN), down 35.9% after reporting third quarter results, withdrawing fiscal 2015 guidance, stating that there is no timetable set for completion of strategic alternatives, and announcing the departure of its CFO. ALSO LOWER: Apple (AAPL), down 1.6% after Pacific Crest says that weak iPad demand could cause Apple to miss estimates and following a Wall Street Journal report that a judge denied Apple's efforts to throw out iPod pricing lawsuit... Allied Nevada Gold (ANV), down 30.1% after announcing pricing of common stock and warrant offering... United Continental (UAL), down 2.7% after reporting November traffic.
December 8, 2014
16:26 EDTUALUnited Continental November consolidated traffic down 0.3%
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10:00 EDTDLAKYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Antero Resources (AR) upgraded to Buy from Neutral at Citigroup... Apache (APA) upgraded to Buy from Neutral at Citigroup... Applied Materials (AMAT) upgraded to Buy from Hold at Deutsche Bank... Arch Capital (ACGL) upgraded to Outperform from Market Perform at BMO Capital... CU Bancorp (CUNB) upgraded to Buy from Hold at Sandler O'Neill... Calpine (CPN) upgraded to Outperform from Neutral at Macquarie... Commerzbank (CRZBY) upgraded to Market Perform from Underperform at Keefe Bruyette... EastGroup Properties (EGP) upgraded to Neutral from Underperform at Credit Suisse... Enbridge Energy Management (EEQ) upgraded to Equal Weight at Morgan Stanley... Enbridge Energy (EEP) upgraded to Equal Weight from Underweight at Morgan Stanley... GasLog (GLOG) upgraded to Buy from Hold at Stifel... Hoegh LNG (HMLP) upgraded to Buy from Neutral at UBS... Illinois Tool Works (ITW) upgraded to Buy from Accumulate at Global Hunter... LaSalle Hotel (LHO) upgraded at Morgan Stanley... Lufthansa (DLAKY) upgraded to Buy from Neutral at Nomura... NASDAQ (NDAQ) upgraded to Outperform from Market Perform at Keefe Bruyette... Newfield Exploration (NFX) upgraded to Buy from Neutral at Citigroup... Omega Healthcare (OHI) upgraded to Buy from Hold at Jefferies... Orange SA (ORAN) upgraded to Conviction Buy from Neutral at Goldman... SM Energy (SM) upgraded to Outperform from Market Perform at BMO Capital... Southwest (LUV) upgraded at Goldman... TSMC (TSM) upgraded to Buy from Neutral at BofA/Merrill... United Technologies (UTX) upgraded at Bernstein... eBay (EBAY) upgraded to Buy from Hold at Stifel.
05:33 EDTDLAKYLufthansa upgraded to Buy from Neutral at Nomura
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