Transportation Sector Review: U.S. Airways and Flight Attendants Strike Accord, UPS Pre-Tax Talk
US Airways Group, Inc. (NYSE:LCC) announced that it has reached a tentative agreement on a new collective bargaining agreement with the Association of Flight Attendants, or AFA, which represents the airline’s 6,700 mainline flight attendants. Details of the agreement will be made available by AFA. The AFA Master Executive Counsel’s, or MEC’s, must first approve the tentative agreement before it can be sent to its members for consideration. This first step is expected to take place in the coming weeks. The tentative agreement would cover the airline’s 6,700 mainline flight attendants, who are based in US Airways’ three hub cities of Phoenix, Philadelphia, Charlotte, N.C., and in its Washington D.C. focus city.
The shares closed at $8.18, up $0.33, or 4.2%, on the day. Its market capitalization is $1.33 billion.
Arkansas Best Corporation (NASDAQ:ABFS) reported Q4 revenue $463.2M vs. consensus $472.50M. These quarterly results include charges for a supplemental pension settlement of 3c per share related to a previously disclosed ABF executive retirement effective at the end of 2011.
The shares closed at $19.13, down $3.37, or 14.98%, on the day. Its market capitalization is $486.32 million.
United Parcel Service (NYSE:UPS) expects to record a pre-tax $827M charge for the 2011 mark-to-market adjustment. On a GAAP basis, diluted earnings per share for the fourth quarter and total year will be reduced by 51c and 41c respectively which is inclusive of both the mark-to-market adjustment and the benefit resulting from the accounting change. The accounting change is expected to add 3c to adjusted diluted EPS for Q4 and 12c for the FY11.
The shares closed at $76.04, up $0.2, or 0.26%, on the day. Its market capitalization is $73.38 billion.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.
To contact the reporter on this story: Stella Mariz at firstname.lastname@example.org
To contact the editor responsible for this story: Damien Hoffman at email@example.com