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Fly News Breaks for February 27, 2020
Feb 27, 2020 | 08:58 EDT
Deutsche Bank analyst Michael Linenberg downgraded American Airlines (AAL), Alaska Air (ALK), Delta Air Lines (DAL), JetBlue (JBLU), Spirit Airlines (SAVE) and United Airlines (UAL), all to Hold from Buy, given his concerns about the increasing risk that the spread of the Covid-19 coronavirus will disrupt travel patterns beyond just China. He also expressed concern that the coronavirus will start to negatively impact peak travel periods - like spring break, Easter and early summer - and worries about the growing number of restrictions on business travelers, "one of the industry's most lucrative revenue streams." Despite the worries, Linenberg is maintaining Buy ratings on regional airlines Allegiant Travel (ALGT), Mesa Air (MESA) and SkyWest (SKYW), noting that Mesa and SkyWest are contract carriers and roughly 75% of Allegiant's markets are sole-served.
May 20, 2022 | 13:05 EDT
Bullish option flow detected in United Continental with 36,070 calls trading, 1.0x expected, and implied vol increasing almost 2 points to 60.23%. Jun-22 52.5 calls and 5/27 weekly 46 calls are the most active options, with total volume in those strikes near 8,800 contracts. The Put/Call Ratio is 0.44. Earnings are expected on July 20th.
May 20, 2022 | 16:31 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to See Story Here
May 19, 2022 | 12:16 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to See Story Here
May 19, 2022 | 10:48 EDT
Frontier Group Holdings (ULCC) commented on Spirit Airlines' (SAVE) announcement that it is urging shareholders to reject JetBlue Airways' unsolicited tender offer to acquire all outstanding shares of Spirit's common stock."We are pleased that the Spirit Board of Directors has again reaffirmed its commitment to combining with Frontier, which increases competition by bringing more ultra-low fares to more travelers and delivering substantial shareholder value," said Barry Biffle, President and CEO of Frontier. "We are working with Spirit to complete our merger and create a true nationwide ultra-low fare airline to compete against the dominant 'Big Four' airlines and other high-cost airlines, including JetBlue. Together, we will super-charge the ultra-low-cost carrier model and create an even better option for consumers. He continued, "The Spirit Board of Directors took the right step in urging its shareholders to reject JetBlue's proposal and vote FOR the merger with Frontier. We continue to believe that JetBlue is worried about increased competition and put forward a proposal for a transaction that, simply put, can't be completed. We remain focused on moving forward with Spirit to drive competition and deliver enhanced value to all of our stakeholders." Frontier noted the following: "Unlike the compelling Spirit-Frontier combination, an acquisition of Spirit by JetBlue, a high-fare carrier, would lead to fewer options and more expensive travel for consumers. JetBlue has stated it will reduce capacity and raise fares on Spirit routes. The Transport Workers Union has publicly stated that it opposes JetBlue's proposed hostile takeover, noting JetBlue's intentions to eliminate thousands of jobs and low-cost flight options for customers as part of its proposal."
May 19, 2022 | 09:03 EDT
Check out this morning's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to See Story Here
May 18, 2022 | 08:12 EDT
American Airlines (AAL) and Microsoft (MSFT) are partnering to use technology to create better, more connected experiences for customers and American Airlines team members, supporting the robust operations of the world's largest airline. As part of the partnership, American will use Microsoft Azure as its preferred cloud platform for its airline applications and key workloads, significantly accelerating its digital transformation and making Microsoft one of the airline's largest technology partners.