Northwest races to restore service

Article Abstract:

Northwest Airlines asked its 30,000 terminated employees to return to work after the forging of a four-year contract with the striking pilots' union. The contract-signing signalled the end of a 15-day shutdown, that left 150,000 passengers without flights each day. Northwest, which lost close to $400 million because of the strike, hopes to restore flights of around 25% of its fleet on Wednesday. Full service will resume from eight to 10 days. As part of the agreement, the pilots will receive a 12% pay hike for the next four years, lump sum money, stock options and will have a share in the profits.

Comment:

Asks its 30,000 terminated employees to return to work after the forging of a four-year contract with the striking pilots' union

Northwest Airlines Inc.

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AMR puts subsidiaries up for sale

Article Abstract:

AMR, the parent company of American Airlines, will divest some units of its Global Services subsidiary in the first quarter of 1999 to be able to focus more on its core airline business. The company said that it has already retained investment bankers to identify buyers for AMR Services, which provides cargo, passenger and ramp handling services, AMR Combs, which provides an executive aviation service, and TeleService Resources, a call center management service. The companies under the Global Services unit brought in a combined revenue of $551 million in 1997.

Comment:

Will divest some units of its Global Services in first quarter of 1999 to be able to focus more on its core airline business

Asset sales & divestitures, AMR Corp.

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Big raises pound airlines at bad time

Article Abstract:

Labor unions are winning large raises while airline financial losses worsen. Other airlines may be forced to match sizable raises which may ultimately lead to layoffs.

Air Transportation, Scheduled, And Air Courier Services

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