Delta and US Airways Welcome DOT Approval of Slot Transaction
ATLANTA and TEMPE, Ariz., Oct. 13, 2011 /PRNewswire/ -- Delta Air Lines (NYSE: DAL) and US Airways (NYSE: LCC) welcome the decision by the Department of Transportation on Oct. 10, 2011, to approve the proposed slot transaction at New York-LaGuardia and Washington-Reagan National airports, subject to certain conditions. The DOT's final order represents a clear recognition by the Obama Administration that the slot transaction is in the public interest because of the service benefits and efficiencies that would result in both New York and Washington, D.C.
"We want to thank DOT and the FAA for their final approval of the slot transaction, which will enhance competition, create new jobs, reduce air space congestion in New York City and greatly increase travel choices for our customers in New York," said Richard Anderson, Delta's chief executive officer. "We agree with the DOT that the slot transaction has significant consumer benefits in both New York and Washington, D.C., and look forward to implementing our agreement with US Airways and rolling out our expanded LaGuardia schedule next year. We also look forward to bringing substantial new construction and service jobs to New York as facilities are expanded and modernized to create a Delta hub operation."
"We want to thank DOT Secretary Ray LaHood, FAA Administrator Randy Babbitt, and their teams, and applaud their hard work over the past two plus years. We appreciate their willingness to view the overall, indivisible benefits of the transaction to both Washington, D.C., and New York after a thorough review," said US Airways Chairman and CEO Doug Parker. "The decision of DOT and FAA is a great example of the regulatory process working to the benefit of consumers by promoting competition and expanding consumer choice, fostering economic development and creating jobs in both Washington, D.C., and New York. We look forward to the opportunity to better serve our existing and new customers in the Washington region and small and medium-sized communities around the eastern United States."
On May 23, Delta and US Airways announced a new agreement to transfer takeoff and landing rights at New York's LaGuardia and Washington D.C.'s Reagan National airports, which will enable the carriers to expand service and increase competition at two of the nation's key cities, and provide the opportunity for additional access to LaGuardia and Reagan National for new entrants and airlines with a limited presence at the airports.
Under the new agreement, Delta will acquire 132 slot pairs at LaGuardia from US Airways and US Airways will acquire from Delta 42 slot pairs at Reagan National, as well as the rights to operate additional daily service to Sao Paulo, Brazil in 2015. Delta also will pay US Airways $66.5 million in cash. In addition, the airlines will divest 16 slot pairs at LaGuardia and eight slot pairs at Reagan National to airlines with limited or no service at those airports.
A slot pair is the authority to operate one takeoff and one landing.
About US Airways
US Airways, along with US Airways Shuttle and US Airways Express, operates more than 3,200 flights per day and serves more than 200 communities in the U.S., Canada, Mexico, Europe, the Middle East, the Caribbean, Central and South America. The airline employs 32,000 aviation professionals worldwide and is a member of the Star Alliance network, which offers its customers more than 21,000 daily flights to 1,185 airports in 185 countries. Together with its US Airways Express partners, the airline serves approximately 80 million passengers each year and operates hubs in Charlotte, N.C., Philadelphia and Phoenix, and a focus city in Washington, D.C. at Ronald Reagan Washington National Airport. US Airways was the only airline included as one of the 50 best companies to work for in the U.S. by LATINA Style magazine's 50 Report for 2010 and 2011. The airline also earned a 100 percent rating on the Human Rights Campaign Corporate Equality index for the sixth year in a row. The Corporate Equality index is a leading indicator of companies' attitudes and policies toward lesbian, gay, bisexual and transgender employees and customers. US Airways also ranked #1 among its competing hub-and-spoke network carriers for 2010 performance as rated by the Wichita State University/Purdue University Airline Quality Rating (AQR). For more company information visit usairways.com, follow on Twitter @USAirways or at Facebook.com/USAirways. (LCCG)
About Delta Air Lines
Delta Air Lines serves more than 160 million customers each year, and was named by Fortune magazine as the most admired airline worldwide in its 2011 World's Most Admired Companies airline industry list. With an industry-leading global network, Delta and the Delta Connection carriers offer service to 338 destinations in 59 countries on six continents. Headquartered in Atlanta, Delta employs 80,000 employees worldwide and operates a mainline fleet of more than 700 aircraft. A founding member of the SkyTeam global alliance, Delta participates in the industry's leading trans-Atlantic joint venture with Air France-KLM and Alitalia. Including its worldwide alliance partners, Delta offers customers more than 13,000 daily flights, with hubs in Amsterdam, Atlanta, Cincinnati, Detroit, Memphis, Minneapolis-St. Paul, New York-JFK, Paris-Charles de Gaulle, Salt Lake City and Tokyo-Narita. The airline's service includes the SkyMiles frequent flier program, a world-class airline loyalty program; the award-winning BusinessElite service; and more than 50 Delta Sky Clubs in airports worldwide. Delta is investing more than $2 billion through 2013 in airport facilities and global products, services and technology to enhance the customer experience in the air and on the ground. Customers can check in for flights, print boarding passes, check bags and review flight status at delta.com.
SOURCE Delta Air Lines
Posted: October 17, 2011