NY Stock Exchange
I have avoided making blogs about the poor economy and how poorly the airlines have been doing since I didn’t want to repeat myself. But there is some good economic news for the airlines (well some airlines) and why not have some positive things to share during this time of year?!
AIRLINE STOCKS ARE GOING UP!
The AP is reporting that with oil prices going down, airline stocks keep going up. Even Southwest whose fuel hedging has been hurting them a bit, is doing some airplane selling and re-leasing magic and their stocks went up as well!
Souce: AP via Forbes Image:Helico
Almost feel like should call this “The Airline Cutback Blog” but that is what keeps popping up in the airline news. This time United Airlines is stopping some free meal services on international flights. Meal cutbacks has not been anything new, but for a domestic airline to start cutting back on international flights is something new and not improved.
Also expect prices for buying food on United to increase by the end of the year.
Source: Bloomberg Image: Salt&Vinegar
The CEO of JetBlue has decided to lower his salary from $500,000 to $250,000 for the remainder of the year due to the worsening airline economy. They have also put a hold on route expansions and receiving new aircraft.
Even though $250,000 per year can still go quite far and it is only for 6 months or so, I think it does show a lot when a CEO is willing to suffer a little bit with the rest of their employees.
Source: The Guardian Image: Flyian