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[ad_1] A pilot performs a walkaround before a United Airlines flight Leslie Josephs/CNBC U.S. passenger airlines have added nearly 194,000 jobs since 2021 as companies went on a hiring spree after spending months in a pandemic slump, according to the U.S. Department of Transportation. Now the industry is cooling its hiring. Airlines are close to their staffing needs but the slowdown is also coming in part because they're facing a slew of challenges. A glut of flights in the U.S. has pushed down fares and eaten into airlines' profits . Demand growth has moderated. Airplanes are arriving late from Boeing and Airbus , prompting airlines to rethink their expansions. Engines are in short supply . Some carriers are deferring airplane deliveries altogether. And labor costs have climbed after groups like pilots and mechanics inked new contracts with big raises, their first in years. Annual pay for a three-year first officer on midsized equipment at U.S. airlines averaged $170...

[ad_1] Passengers make their way through the terminal as they travel ahead of the Thanksgiving holiday at Washington Dulles International Airport in Dulles, Virginia, on Nov. 22, 2023. Kevin Lamarque | Reuters In air travel, minutes matter. A few moments could be the difference between making and missing a connection for passengers — and could avoid delays that ripple across the schedule for airlines. Saved time could even lead to big savings for carriers as they scramble to get a handle on costs. Major airlines are rolling out strategies that executives say could translate to lower costs and more efficient operations, even if the time savings on paper look negligible. Some of these tools will be put to the test during what's expected to be a busy holiday season , a year after a meltdown that stranded thousands of passengers at the end of 2022. Many of the improvements are being made behind the scenes. American Airlines last year started using new technology to assign flight...

[ad_1] An American Airlines 777 is loaded with cargo at Philadelphia International Airport. Leslie Josephs/CNBC Airlines' cargo revenue is slumping. That's a sign of good news for travel recovery. Delta , United and American this month each reported year-over-year declines of about 40% in their second-quarter cargo revenue. For the first half of 2023, Delta's cargo business generated $381 million, down from $561 million in the first half of 2022, while American's cargo unit brought in $420 million compared with $692 million in the first six months of last year. United brought in $760 million from cargo so far this year, down from $1.2 billion a year earlier. Zoom In Icon Arrows pointing outwards Meanwhile, airlines are reporting record revenue , if not earnings , thanks to the rebound in travel demand. That means the business impact of cargo, which once helped prop up airlines' revenue during the Covid pandemic travel plunge, has faded. Cargo revenue at Unite...

[ad_1] A Jet Blue aircraft takes off from Long Beach Airport in Long Beach, CA. Tim Rue | Bloomberg | Getty Images JetBlue Airways slashed its 2023 outlook and warned of a potential loss in the current quarter as travelers opt for destinations abroad and the carrier grapples with the end of its partnership with American Airlines in the Northeast. JetBlue forecast adjusted earnings per share for the full year ranging from 5 cents to 40 cents, down from an earlier estimate for per-share earnings of as much as $1. related investing news The New York-based carrier said it could post an adjusted loss of as much as 20 cents for the third quarter with revenue down 4% to 8% from the same period last year. The airline's shares tumbled more than 8% on Tuesday after reporting second-quarter results . Here's how the company performed in the period, compared with Wall Street expectations, according to Refinitiv consensus estimates: Adjusted earnings per share: 45 cents vs. 44 cents...

[ad_1] American Airlines plane Silas Stein | picture alliance | Getty Images American Airlines pilots' union said Thursday that they agreed to a sweetened offer for a new labor contract, less than two weeks after a richer deal at rival United Airlines derailed voting at American. The new preliminary agreement includes pay matching with United, whose pilots are on track to get about 40% raises over four years, and at Delta Air Lines , whose aviators approved their contract in March , as well as other improvements. American CEO Robert Isom last week increased the company's offer by about $1 billion . "We appreciate the Allied Pilots Association for its collaborative work to reach an updated agreement on a four-year contract for American's pilots," American said in a statement. "It's a contract we're proud of and one our pilots deserve." American's pilots would start voting on the new deal in August. The deal is the latest in the trans...

[ad_1] An American Airlines 777 is loaded with cargo at Philadelphia International Airport. Leslie Josephs/CNBC Airlines' cargo revenue is slumping. That's a sign of good news for travel recovery. Delta , United and American this month each reported year-over-year declines of about 40% in their second-quarter cargo revenue. For the first half of 2023, Delta's cargo business generated $381 million, down from $561 million in the first half of 2022, while American's cargo unit brought in $420 million compared with $692 million in the first six months of last year. United brought in $760 million from cargo so far this year, down from $1.2 billion a year earlier. Zoom In Icon Arrows pointing outwards Meanwhile, airlines are reporting record revenue , if not earnings , thanks to the rebound in travel demand. That means the business impact of cargo, which once helped prop up airlines' revenue during the Covid pandemic travel plunge, has faded. Cargo revenue at Unite...

[ad_1] Boeing 787-9 Dreamliner, from American Airlines company, taking off from Barcelona airport, in Barcelona on 24th February 2023.  JanValls | Nurphoto | Getty Images American Airlines on Thursday raised its earnings outlook for 2023 after a strong start to the peak travel season, the latest airline to reap the rewards from the continued boom in demand. The Fort Worth, Texas-based carrier expects to earn between $3 and $3.75 a share for the full year, adjusting for one-time items, up from a forecast in May to earn about $2.50 to $3.50. That updated 2023 profit guidance falls in line with Wall Street expectations of $3.10, according to Refinitiv consensus estimates. American shares were down more than 6% in late-afternoon trading. Airline executives have been upbeat about travel demand, particularly for international trips. Some airfares have declined compared with last year, when airlines struggled to rebuild their schedules after the worst of the Covid pandemic , leaving tr...

[ad_1] Travelers are seen ahead of the fourth of July holiday weekend at Hartsfield-Jackson Atlanta International Airport on June 30, 2023, in Atlanta, Georgia. Elijah Nouvelage | AFP | Getty Images Flight disruptions piled up at airports around the country ahead of the July Fourth weekend, but airline investors have largely shrugged them off. More than 63,000 flights operated by U.S. airlines, or 30% of their schedules, were delayed between June 24 through July 2. More than 9,000, or 4.2%, were canceled. Both of those percentages are above disruption averages so far this year, according to flight-tracking site FlightAware. The delays were driven mostly by a series of rolling thunderstorms coupled with other issues like a shortage of air traffic controllers in congested airspace around New York and other areas, derailing travel plans of thousands of customers. It upended what has been a mostly calm spring for travelers. But sky-high travel demand continues to keep airline stocks a...