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Bargains Becoming Scarce ---------- Another Chapter In My Life - Is your favorite airline going broke? It looks as if bankruptcy protection is a popular trend in the airline industry these days, and the light at the end of the tunnel gets farther and farther away. Chapter 11, in case you were wondering, is when a company can no longer contain its losses and profitability seems a remote future hope. The carrier throws itself at the mercy of the bankruptcy court and asks permission to break its promises to lenders, clients, and employees, in order to survive. Featured archived story from Travelcomment.com| Posted 7 a.m. ---------- Southwest Airlines Profits Soar - Southwest Airlines reported its 54th consecutive quarterly profit Thursday, with third-quarter income rising by more than 12 percent. The Dallas-based airline said it generated a net income of $119 million, or 15 cents a share, compared to $106 million, or 13 cents a share, in the previous third quarter. "Despite the weak airline industry revenue environment and higher fuel prices, Southwest achieved a double-digit improvement in earnings," Southwest Chief Executive Officer Gary Kelly said. Analysts expected the carrier to report a third-quarter profit of 12 cents a share. Houston Chronicle| Posted 7 a.m. Union: US Airways Seeking '82 Pay Levels - US Airways' request in bankruptcy court to impose 23 percent pay cuts on its union workers would reduce flight attendants' pay scales to 1982 levels, a union analyst said. Daniel W. Akins, an economist working for the Association of Flight Attendants, testified Thursday in U.S. Bankruptcy Court that the pay cuts sought by bankrupt US Airways are so severe that the airline's pay scales would be 22 percent lower than the average salary scale of the nation's low-cost air carriers. AP | Posted 7:05 a.m. Virgin Passenger Furious At Bomb Delay - Angry Virgin Atlantic passengers claimed they were kept waiting for 10 hours while authorities argued who was in charge over a bomb threat at Stansted airport. Special Branch, Essex police and the Immigration Service were blamed following the hoax yesterday morning on a 12-hour flight from Hong Kong to Heathrow. First class passenger Nicholas Walters, 47, said: "We found ourselves in a turf war. No one seemed to know who was in charge. We had 10 hours of the most appalling incompetence and English bureaucracy." Mirror | Posted 7:10 a.m. >> Yesterday's Notes | Tomorrow's Notes << E-mail Elliott | Other bloggers | About this blog Latest Travel Notes | Complete Archives
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