Nasdaq’s listing qualification panel removed Great Lakes Aviation from its SmallCap Market index on August 14 after denying the airline’s appeal for an exemption. On August 1 Great Lakes submitted oral and written presentations to the Nasdaq panel, including a financial restructuring plan aimed at returning it to compliance with the market’s listing criteria.
Economy of the United States
American Airlines’ decision last month to retire 74 more Fokker 100s and nine Boeing 767-300s will mean continued capacity stagnation at its wholly owned American Eagle subsidiary, as long as the Allied Pilots Association has its way.
US Airways’ decision to file for Chapter 11 bankruptcy last month officially placed the courts at the center of a restructuring exercise in which the development of the airline’s regional network has emerged as perhaps the most crucial component.
US Airways informed Mesa Air Group that it will end its code-share relationship with Mesa subsidiary CCAir on November 4, and re-assign the last remaining routes flown by the Charlotte, N.C.-based regional to wholly owned US Airways subsidiary Piedmont Airlines. The decision will effectively close CCAir in its entirety, unless Mesa can negotiate a new “cost plus” contract to replace CCAir’s pro-rate agreement.
The “Strong Union” leaders who helped NetJets pilots obtain an industry-leading contract three years ago resigned from the local representing the fractional pilots– IBT Local 1108–in mid-March in the wake of “a resurgent decertification movement” being led by a group called the NetJets Association of Shared Aircraft Pilots (NJASAP).
An agreement was recently reached between the International Brotherhood of Teamsters and the NetJets Association of Shared Aircraft Pilots (NJASAP), the latter of which seeks to break away from IBT Local 1108 to form an independent NetJets pilot union.
Frontier Airlines yesterday said it reached a “mutual agreement” with Republic Airways to end their code-share agreement and gradually remove all 12 of the Indianapolis-based regional airline’s Embraer E170s from the Frontier network by mid-June.
A union organizing campaign is under way at fractional-aircraft provider Flight Options, according to Don Treichler of the International Brother of Teamsters (IBT) airline division, with an initial distribution of “representation” cards sent to pilots on along with an explanatory newsletter dated May 23. IBT followed up with a second newsletter dated June 12.
David Cote, 49, has been named president and CEO of Honeywell, taking over
The “Strong Union” leaders that helped form IBT Local 1108 to organize fractional pilots in 2004 resigned from the local last week in the wake of “a resurgent decertification movement” being led by a group called NetJets Association of Shared Aircraft Pilots.