| From: OldAIMGuy | 12/10/2021 11:37:28 AM | | | | | | Airlines and JETS are having another downstroke today. I own JETS and also MESA. MESA doesn't appear in the top 50 JETS holding, so I don't know how much influence its sagging price today has on JETS. MESA dropped on a quarterly loss announced today due to the company taking "non-recurring losses."
JETS off 1.52%
MESA off 24.2%!!!
Best wishes,
OAG |
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| From: Sam | 12/13/2021 3:35:00 PM | | | | | | Delta Shares Lower After Plan to Invest in Virgin Atlantic, Aeromexico and LATAM
Dow Jones Newswires December 13, 2021 03:10:00 PM ET
Delta Air Lines shares were 3.2% lower, at $36.95, outpacing losses in the transportation and logistics sector, after the airline company said it would make investments in Virgin Atlantic, Aeromexico and LATAM of about $1.2 billion.
Delta said this comes as the partner airlines transform their businesses to emerge from the global pandemic stronger and more resilient.
The airline said it is investing in Virgin Atlantic, Aeromexico and LATAM as each carrier emerges from restructuring or recapitalization. Upon completion of their respective processes, Delta is targeting a 20% equity stake in Aeromexico and a 10% equity stake in LATAM. Delta said it would maintain its 49% equity stake in Virgin Atlantic.
Delta is currently anticipated to acquire one or both of reorganized LATAM common stock and unsecured convertible notes in a right offering, according to a U.S. Securities and Exchange Commission filing. The airline estimates its ownership interest in LATAM following the transaction would be substantially lower than the 20% it is today, according to the filing. LATAM in November said it filed a reorganization plan for a path forward to exiting Chapter 11.
Aeromexico in June 2020 filed for Chapter 11 in the U.S. amid the pandemic.
Virgin Atlantic said Monday it is getting a 400 million pound, or $530.8 million, new investment from shareholders Virgin Group and Delta.
"Throughout the pandemic, Delta has continued to invest in our future, including new aircraft orders, accelerating real estate projects and putting significant resources into health and safety measures to protect our employees and our customers," said Delta Chief Financial Officer Dan Janki. "Similarly, investing in our partners now--even as we continue to navigate the pandemic--is the right choice to support Delta's long-term strategy."
Write to Michael Dabaie at michael.dabaie@wsj.com
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| From: Sam | 12/15/2021 10:22:00 PM | | | | | | U.S. airlines warn 5G wireless could wreak havoc with flights
Reuters December 15, 2021 08:41:00 PM ET
WASHINGTON, Dec 15 (Reuters) - Major U.S. air carriers warned on Wednesday that plans by wireless carriers to use spectrum for 5G wireless services starting Jan. 5 could disrupt thousands of daily flights and cost air passengers $1.6 billion annually in delays.
AT&T and Verizon Communications must delay the plans to use C-Band spectrum for 5G wireless services, United Airlines Chief Executive Scott Kirby said following a U.S. Senate Commerce Committee hearing, saying it could delay, divert or cancel about 4% of daily flights and impact hundreds of thousands of passengers.
"It would be a catastrophic failure of government," Kirby told reporters.
The aviation industry and the Federal Aviation Administration (FAA) have raised concerns about potential interference of 5G with sensitive aircraft electronics like radio altimeters
Last week, the FAA issued new airworthiness directives warning that interference from 5G wireless spectrum could result in flight diversions, but did not quantify the impact.
"Coming Jan. 5 -- unless something changes -- we will not be able to use radio altimeters at 40-something of the largest airports in the country," Kirby said. "It is a certainty. This is not a debate."
Kirby said it would mean that at major U.S. airports in the event of bad weather, cloud cover or even heavy smog "you could only do visual approaches essentially."
Trade group Airlines for America (A4A) said Wednesday that if the FAA 5G directive had been in effect in 2019, "approximately 345,000 passenger flights, 32 million passengers, and 5,400 cargo flights would have been impacted in the form of delayed flights, diversions, or cancellations."
Southwest Airlines' chief executive, Gary Kelly, told the Senate hearing that if the FAA directive takes effect it "would be a significant setback" to its operations.
The wireless industry defended the technology.
"The aviation industry's fearmongering relies on completely discredited information and deliberate distortions of fact," CTIA, a wireless trade group, said.
It said that 5G operates safely and without causing harmful interference to aviation operations in nearly 40 countries around the world.
The Biden administration is eager to see the issue resolved. White House National Economic Council director Brian Deese met with Federal Communications Commission Chair Jessica Rosenworcel and Transportation Secretary Pete Buttigieg on the issue Wednesday, sources told Reuters. The White House and the Transportation Department did not comment.
Republican Senator Marsha Blackburn at the hearing urged airlines to work with the wireless carriers to reach agreement.
Rosenworcel, who did not comment Wednesday, has said she believes the issues can be resolved and spectrum safely used.
In addition to agreeing to delay the commercial launch of C-band wireless service until Jan. 5, AT&T and Verizon in November adopted precautionary measures for six months to limit interference.
Aviation industry groups said they were insufficient to address air safety concerns and have made a counterproposal.
United's Kirby said the FCC and FAA "need to get in a room and talk to each other and solve the problem," adding that the issue "cannot be solved on the back of airlines."
A4A said the FAA directive would "materially disrupt airline operations" and said cargo operators estimate it "would have cost them $400 million annually."
The group said "the annual impact cost to passengers to be approximately $1.59 billion" of travel delays.
Wireless carriers have shown no interest in further delays to using the spectrum, which the industry paid more than $80 billion to acquire.
The FAA directives order revising airplane and helicopter flight manuals to prohibit some operations requiring radio altimeter data when in the presence of 5G C-Band wireless broadband signals.
The FAA plans to issue further notices to airlines before Jan. 5 offering more detail on the potential interference and is in discussion about which altimeters could be used under the current mitigation plans.
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| To: Sam who wrote (1683) | 12/16/2021 10:11:46 AM | | From: Art Bechhoefer | | | | The spectrum bands used by 5G are different and separate from the wave bands used by aircraft equipment. The problem is not one of spectrum allocation but revolves around ancient, outdated equipment on aircraft that do not have modern filters to prevent contamination from nearby 5G spectrum. The aircraft industry has for decades been slow to adopt the latest and best instrumentation, and this is simply one more example of the industry trying its hardest to avoid spending one extra cent on updating its own equipment.
Art |
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| To: Art Bechhoefer who wrote (1684) | 12/16/2021 10:40:13 AM | | From: Moonray | | | | ...and this is simply one more example of the industry trying its hardest to avoid spending one extra cent on updating its own equipment. I doubt they feel they even have that extra cent.
Last year was a lousy year and probably that extra
cent went to the airlines' officers' payay.
Delta's CEO was scrambling to get his due:
As Chief Executive Officer at DELTA AIR LINES INC, Edward H. Bastian
made $17,291,985 in total compensation. Of this total $945,833 was received
as a salary, $3,516,987 was received as a bonus, $4,125,096 was received
in stock options, $8,375,463 was awarded as stock and $328,606 came from
other types of compensation.
o~~~ O
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| To: OldAIMGuy who wrote (1680) | 12/17/2021 5:57:00 PM | | From: Moonray | | | | Southwest Airlines CEO Kelly Tests Positive for Covid-19
Other executives at the hearing included American Airlines
Group Inc. CEO Doug Parker, United Airlines Holdings Inc.
CEO Scott Kirby and Delta Air Lines Inc. Chief of Operations
John Laughter. More at: Message 33624561
o~~~ O
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