Memphis-based Northwest Airlines subsidiary Express Airlines I on May 8 officially changed its name to Pinnacle Airlines ahead of an initial public offering expected to raise $400 million.
Indianapolis-based Republic Airways will soon issue five million shares of stock at between $14 and $16 each in its third attempt to take the company public, according to a prospectus filed last month with the SEC.
The DOT’s office of inspector general is auditing the FAA’s parts certification and surveillance procedures to determine the effect of the increasing U.S. market share of foreign-built airplanes. Of particular interest is the FAA’s oversight of foreign parts from the growing segment of U.S. airlines flying regional jets from Brazil’s Embraer and Canada’s Bombardier.
United Airlines earlier this month formally rejected its code-share contract with Atlantic Coast Airlines, freeing the Sterling, Va.-based regional to speed preparations for its launch of Independence Air–the planned new discount carrier slated to fly from Washington Dulles Airport. The long-time partners have agreed to begin the separation process on June 4 and complete the divorce by August 5.
What started as an annoyance three years ago appears to have turned into a legitimate threat to the essence of the Air Line Pilots Association’s long-held strategy for protecting mainline pilot interests.
The regional airlines became an economic safety net of sorts after September 11, when the majors quickly realized they could not survive flying large airplanes nearly empty. The options–cut flights and market presence entirely or replace mainline jets with smaller aircraft–presented airlines with a clear course of action. Code-sharing regional airliners quickly delivered cost-effective solutions.
The September 11 terrorist attacks on the World Trade Center and Pentagon set the stage for an upheaval in the U.S. airline industry unseen since the dawn of deregulation. But while virtually no one besides the enemies of America welcomed the negative economic effects, some airlines may very well emerge from the crisis in a stronger competitive position.
Delta Airlines’ Comair Jet Express, hoping to expand its global presence as an on-demand charter and aircraft management provider, has changed its name to Delta AirElite Business Jets.
The NTSB said last week it is investigating an accident that occurred at Boston Logan International on June 20 in which an American Eagle ERJ 135 struck the runway with the gear retracted before taking off again for a go-around. According to the Safety Board, the crew stated that all three landing gear indicator lights were green before the accident.
Bombardier Aerospace unveiled a series of updates to its CRJ900 regional jet during a June 5 event at the Signature Flight Support FBO at Washington Dulles International Airport. The 76-seat CRJ900 NextGen on display there became the first to enter revenue service on June 7, when Northwest Airlines subsidiary Mesaba Airlines flew it to Dallas/Fort Worth International Airport from Minneapolis.