Airline Finance News - North America

AirGuide Business, May 5, 2008

AirTran Airways

AirTran Airways parent AirTran holdings yesterday announced the initial closing of concurrent offerings of 5.5% convertible senior notes due 2015 and common stock and said the initiatives netted proceeds of approximately $140.3 million. Sale of an additional 2.3 million shares of common as part of an overallotment option is set to close today. May 2, 2008

AirTran Airways

AirTran Airways parent AirTran Holdings is offering more than 22.3 million shares of common stock at $3.20 per share, it said Friday. It additionally will offer $65 million of 5.5% convertible senior notes due in 2015. Notes can be converted into common stock at the rate of 260.417 shares per $1,000 principal amount of notes, or $3.84 per share. Offerings are expected to close April 30 and proceeds will be used for the purchase of government securities and for general corporate purposes including retirement of debt. Apr 29, 2008

Alaska Airlines

Alaska Airlines flew 1.7 billion RPMs in March, up 10.7% from the year-ago month, against a 5.2% increase in capacity to 2.1 billion ASMs that lifted load factor 4 points to 80.8%. Apr 28, 2008

Allegiant Air

Allegiant Air operated 36 MD-80s--it added four during the quarter--on 103 routes, flying 1.06 billion system RPMs, up 41.8%. Capacity grew 36.2% to 1.27 billion ASMs and load factor improved 3.3 points to 83.6%. The scheduled network enjoyed loads of 86.9%. System RASM rose 15.8% to 10.48 cents against a 24.5% increase in CASM to 9.35 cents. The latter was up 4.3% to 4.35 cents excluding fuel. Apr 30, 2008

Allegiant Air

Allegiant Air parent Allegiant Travel Co. bucked the first-quarter trend with a performance that Chairman, President and CEO Maurice Gallagher Jr. called "exceptional," posting a $9.7 million profit that slipped just 0.8% from a nearly identical figure posted the prior year. He said Allegiant's focus on generating higher load factors, ancillary revenue and a more even spread of departures throughout its network were key drivers of the result. Allegiant Air operating revenue soared 57.8% to $133.1 million, driven by a 112.6% rise in ancillary revenue to $27.1 million ($7 per passenger). Expenses were up 69.6% to $118.8 million and operating income rose 0.4% to $14.4 million. Apr 30, 2008

Aloha Airlines

Aloha expected to resume cargo operations under new owners. An agreement approved by a bankruptcy judge on Thursday will allow Aloha Airlines to resume cargo flights. A court-appointed trustee will oversee the operations until May 14, when the newly announced sale of the cargo operation to the Seattle-based firm Saltchuk Resources is expected to be completed. Saltchuk is the parent company of Hawaii's largest inter-island ocean shipper. May 2, 2008

Aloha Airlines

Aloha Airlines stopped operating its cargo business Monday after a lender declined to provide additional financing. The lender decided to stop providing financing after two companies interested in buying the operation decided not to proceed, according to lawyers for the airline. Apr 29, 2008