Business: Good week - Bad week

Good Week

SOUTHWEST PILOTS More than three years of contract negotiations appear to have ended with a deal running until August 2011 giving pilots at the budget carrier increased job scope protection, pay rates and retirement contributions, along with scheduling and quality-of life-improvements and new procedures incorporating current technology. More than 81% of the 5,900 pilots represented by the Southwest Airlines Pilots Association approved the deal.

 

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Bad Week

© INS News Agency/Rex Features

AIRLINES Lenders and investors may have pumped in $8 billion of new cash in the past two months and nearly $25 billion in new debt and equity so far this year, but the airline industry is still on track to lose $11 billion for 2009, according to latest figures from the International Air Transport Association. October jet fuel prices at $85 a barrel, low aircraft utilisation and the fact that the industry typically loses money in the fourth quarter are feeding the gloomy outlook.

 

 

Source: Flight International