Word: airlinese
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Sorry, folks, false alarm. Or at least that seems to be the message after the rumor that United Airlines and Delta Air Lines were in merger talks was quashed with Delta CEO Richard Anderson's testimony before Congress on Thursday. Anderson said that he had not spoken with any high...
But while the rumors have fizzled, the promise of consolidation isn't so easy to shake. U.S. Airways turned up the heat by making a hostile bid for Delta during bankruptcy exactly one year ago, which came in the wake of other failed talks, such as those between United and...
Airlines have more than enough reasons to follow suit. Jet fuel costs have gone up 38% since spring 2006. Airline profit margins, which used to range between 5% and 7%, are now down to 2%. Merging with another carrier would allow an airline to reevaluate its hubs, reduce overlap in...
Ray Neidl, director of U.S. research for airline financier Calyon Securities, says that while consolidation is not imminent, when it comes "it will be fast and furious." In an industry update dated Nov. 7, Neidl wrote that "the most probable kickoff" would be Delta bidding for Anderson's alma mater...
Which, as he knows, doesn't mean people can't dream. Born in a small village--"We were not even having a bus"--Gupta got the idea for his enterprise more than 20 years ago when neighbors begged him for tours after he landed his job at Indian Airlines. "The...