In a unanimous vote by its board members, Atlantic Coast Airlines last month formally rejected Mesa Air Group’s offer to acquire all of its outstanding shares and reaffirmed its commitment to forming a new low-fare operation at Washington Dulles International Airport.
Economy of the United States
The delay of the first flight and early deliveries of the 787 will cost Boeing $3.5 billion in revenue next year, according to financial guidance released by the company this morning.
Early last month ChevronTexaco’s general aviation division announced it would join with distributor Hiller Group to expand its marketing territory into the Midwest
Picture Kodak, king of silver-oxide-and-celluloid photography forever, confronting the age of the digital image, and you can imagine the turmoil, upheaval and forced reinvention that have assaulted the Rochester, N.Y.-based film and processing giant in recent years. These have not been easy times for traditional “memories capsules” packaged in little yellow boxes.
Mark Van Tine, who was with Lockheed Data Plan when Jeppesen bought that company in 1989, is the new chairman and CEO of the Denver-based company that pioneered the instrument navigation chart. The 45-year-old Tine replaces Horst Bergmann, 65, who retired after more than 40 years with the company, and who was named Jeppesen’s CEO in 1988.
Nearly four months after Boeing acquired all of FlightSafety International’s interests in FlightSafetyBoeing Training International, set up five years ago to provide training in Boeing airplanes, Boeing is renaming the venture Alteon. Following a transition period, Alteon will become the official name for the company. During the transition period, the company will continue to be known as FlightSafetyBoeing.
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.
EXXONMOBIL INTRODUCES FBO TRAINING PROGRAM
Under pressure to help their employer meet financing conditions set by regional jet lessor GECAS, the pilots of US Airways voted to ratify a new agreement that will allow the troubled airline to transfer delivery positions for Embraer 170s and Bombardier CRJs from wholly owned subsidiaries to independent US Airways Express carriers. Only 74.1 percent of the eligible active pilots cast ballots.
The board of directors of Memphis-based Pinnacle Airlines has elected company president and CEO Phil Trenary to join the seven-member board. Currently chairman of the RAA, Trenary joined Pinnacle Airlines on April 1, 1997, after a 12-year stint as head of Lone Star Airlines, the San Antonio-based Fairchild Metro operator he established in 1984. Trenary also serves as a director of EnVectra Hazardous Waste Management and Bancorp South.