Airline shares surge as buyers shrug off 1000’s extra flight cancellations

Airline pilots walk over Ronald Reagan Washington National Airport in Arlington, Virginia on December 27, 2021.

Anna Money Maker | Getty Images

Airline investors shrugged thousands of dollars Flight cancellations over the holidays, even if disruptions worsened on Monday.

Airlines scrubbed more than 2,900 U.S. flights on Monday, in addition to more than 5,400 over the weekend, largely due to the severe winter weather that has handicapped some of the country’s busiest airports from Seattle to Washington DC and a spike in Covid -Infections among flight crews. Operations appeared to be improving, however, with 306 flight cancellations scheduled for Tuesday.

Over the holidays, including porters Delta Airlines, United Airlines and JetBlue Airways Said crews were increasingly sick from the rapidly spreading Omicron variant of Covid. The Federal Aviation Administration also warned of delays as their employees increasingly tested positive for the coronavirus.

Delta said it expects to cancel about 200 flights a day out of about 4,000 daily departures on Tuesday and Wednesday.

United, spirit and Alaska are among the airlines that offered their crews additional payment for travel pickup to alleviate the disruption.

From Christmas Eve through Tuesday, airlines have canceled more than 18,700 US flights, according to FlightAware. More than 12% of Saturday’s scheduled flights were canceled when a winter storm hit the Midwest, and nearly 11% of Sunday flights were also scrubbed.

But airline stocks rebounded on Monday, a sign that investors look to the rest of the year when travel demand is expected to rise. American shares rose 4.4% to $ 18.75, United gained 3.9% to close at $ 45.49, and Delta rose 3.1% to end at $ 40.29.

Shares in Southwest Airlines, which canceled hundreds of flights in the past few days, rose 2.7% to end the day at $ 44. The Dallas-based airline canceled another 605 flights, or 16% of its schedule, on Monday, according to FlightAware. Southwest said bad weather had dislocated planes and crews and some employees were unable to work at a regular pace.

“The cancellation of hundreds of flights is disrupting our entire operating system,” the airline said in a statement on Monday. “The storm cleared Denver, for example, but the extreme cold requires additional security protocols for our people working out there, slowing operations, causing delays and forcing some cancellations to keep the whole system moving.”

The cost of the disruptions is not yet clear. Vacation time was critical for airlines, whose executives anticipated some of the busiest days since the pandemic began.

The Omicron variant could pose a “modest, short-term risk” for airlines due to staff quarantines and the potential for some customers to delay travel, Citigroup airline analyst Stephen Trent wrote on Monday.

“Even so, higher vaccination rates and new antiviral treatments are just a few of the factors that could make negative, knee-jerk stock price reactions to the advent of future variants appear increasingly unreasonable,” he wrote.

Delta publishes the sector’s quarterly earnings reports on January 13th.

Extreme climate, omicron infections drive hundreds extra U.S. flight cancellations

Airlines canceled more than 2,600 U.S. flights on New Year’s Day as they faced severe weather conditions across the country and an increase in employee Omicron infections, affecting air travel during the year-end vacation.

The problems are not resolved that quickly. By Saturday afternoon, the airlines had already canceled more than 1,000 US flights planned for Sunday. More than 13,700 U.S. flights have been suspended and thousands more delayed since Christmas Eve, according to flight tracking site FlightAware.

The travel problems occur during the airlines which are among the busiest days since the pandemic began. Last year, the Transportation Security Administration screened nearly 580 million people, up 79% from 2020 but still a decrease of about 30% from pre-pandemic 2019.

Southwest Airlines had largely escaped some of the serious disruptions affecting the rivals over the holidays, but scrubbed 473 flights on Saturday, 13% of the schedule, according to FlightAware. More than 600 more were delayed. Because of a severe winter storm, the airline stopped flight operations at Chicago airports from 1 p.m. local time.

Southwest has more than 200 daily departures from Chicago Midway International Airport. An airline spokeswoman said flights were suspended because planners expected “the gusty winds and snowdrifts that show us decades of operations at this airport will slow down the airspace, de-icing and reloading of planes.” make it very difficult. “The spokeswoman for Southwest had no staffing problems.

The Federal Aviation Administration has also slowed traffic at Dallas Fort Worth International Airport. American Airlines‘largest hub, due to staffing levels. Earlier this week, the agency warned the disruption would continue.

“Weather and heavy seasonal traffic will likely lead to some travel delays in the coming days,” the agency said on Friday. “Like the rest of the US population, an increased number of FAA employees have tested positive for COVID-19. To ensure safety, the volume of traffic in some facilities could be reduced, which can lead to delays in peak times. “

While the weather caused many of the cancellations on New Year’s Day, airlines have included United Airlines, Delta Airlines and JetBlue Airways canceled hundreds of flights over the holidays, citing omicron infections among the crews for many of the disruptions.

Airlines have increased incentives for pilots and flight attendants to take trips and remove staffing bottlenecks that some executives say could last for several weeks as Covid cases continue to rise.

The Air Line Pilots Association, United Pilots’ Union, negotiated triple pay for fliers picking up open travel for most of January, CNBC reported on Friday. United flight attendants and both cabin crew and pilots spirit and others receive bonuses even during the busy holiday season.

Airlines have tried to cancel flights early so customers don’t get stuck at the airport, overwhelm ticket counters and have to change their plans. JetBlue announced this week that it will be 1,280 flights deleted from the flight schedule by mid-January in order to avoid short-term cancellations, as the crews of Omicron Covid infections are on the sidelines.

American, which operates a major hub out of Chicago’s O’Hare International Airport, canceled 208 flights, or 7% of its operations, on Saturday, FlightAware data showed. Chicago-based United has canceled 158.7% of its main-haul flights. Delta has canceled nearly 200 flights, 9% of its Saturday flight schedule.

Airlines executives said they expect travel demand to rise in 2022 and have prepared to expand their schedules and recruit new employees.

Southwest has surpassed its goal of hiring more than 5,700 employees, including onboarding staff and expanded offerings, Greg Muccio, Southwest’s senior director of talent acquisition, wrote in an employee release Thursday. The airline is aiming for another 8,000 more employees next year.

However, the omicron variant is a new challenge for carriers.

“While we expect a full recovery in 2022, it will be a two-half year,” said JetBlue CEO Robin Hayes in an employee New Years Day memo seen by CNBC. “Our traditional lows, especially in the next few weeks after the holidays and as COVID-19 cases rise, are going to be tough.”

However, Hayes said that JetBlue expects an “exceptionally busy summer and plans to take advantage of this opportunity as we continue to expand our fleet and offer low fares on additional routes.”

Will Bike Four Meals cyclists increase cash for hundreds dealing with meals insecurity

HATFIELD, Massachusetts (WWLP) – Hundreds of cyclists rode through scenic Pioneer Valley on the first Sunday of Fall to raise funds for the Food Bank of Western Massachusetts.

An agency that tries to feed 100,000 people a month who are facing food insecurity.

“This is a decrease from last November’s peak when we provided food to 125,000 people, but that’s still 20 percent more than before the pandemic, so we’re nowhere near out of the woods,” said Andrew Morehouse, executive director of the Food Bank of Western Massachusetts.

The “Will Bike 4 Food” fundraiser was held virtually last year due to COVID restrictions, so it was good for everyone to be back.

“With every dollar the board takes, they can buy four meals for families in need of food in western Massachusetts, which is incredible,” said Brian Lapis. “You can do the 10 miles, the 25.50, or the 100 miles if that’s your thing.”

As a moderator, 22News Storm Team meteorologist Brian Lapis gathered the cyclists at the start line before sending them on their way.

It started with cyclists taking a 25-mile ride starting in Hatfield. They trained hard for this event, but the win doesn’t mean as much to them as the fundraiser itself.

Susan Galereave, a cyclist from Florence, said, “Yes, we are not for the speed, we are for the team spirit to raise money for the Food Bank of Western Massachusetts. A great purpose, just a fun day to be on our bikes. “

“Many of us take our access to food for granted and there are so many locals who don’t,” said Laurel Turk from Sunderland.

Since the first Will Bike 4 Food in 2011, the Food Bank of Western Massachusetts has raised over $ 1 million, the equivalent of 4.5 million meals for our neighbors in need. Your food will be distributed to 175 local pantries in all four counties in western Massachusetts.

Native dance crew raises cash after being scammed out of hundreds of {dollars}

RICHMOND, Va. (WRIC) – A local Richmond dance team is busy raising funds for their upcoming competition after someone cheated on them of thousands of dollars.

The Dynamic Dance Academy, a group of 60 students, has been raising funds since March to compete in August in Birmingham, Alabama.

But the dance academy’s owner Bre Jones said those plans were temporarily suspended after someone stole $ 5,000 from his account.

“Eyes bloodshot red and in tears. I look through the emails and everything seems so real, ”said Jones.

She had received a call on Wednesday from a man posing as a representative for Bank of America.

He told her there was a pending transaction for $ 4,924 on Cell. He directed her to give him a verification code and confirm the last four digits of her account number in order to undo the transaction, Jones said.

The Richmond couple feels fooled for over $ 2,000 after never seeing keys to their rental apartment

“I checked the code and the money was gone in literally seconds,” she said.

As of Tuesday evening, there was only $ 0.32 in the account.

Jones received emails from a fake Bank of America domain and a transaction receipt from Chase, a bank she doesn’t have an account with. She immediately filed a lawsuit in person with Bank of America.

Jones says the ordeal affected the entire team.

“It affects you, and if you say goodbye, it affects you. So the most important thing was to make sure you were prepared,” she said. “They felt they were prepared for the competition and were only doing what we could to win back much, if not all, of it to get us through.”

In the past few days she has found several ways to get this money back.

“A car wash, we’re trying to put together a fry. So just all we can do to prepare them for the competition, ”said Jones.

Both Cell and Bank of America say that you should never reveal personal information like a verification code when receiving a call from a number that appears to be from your bank.

Instead, hang up and call your bank directly or visit a branch in person.

A whole lot of 1000’s of La. residents set to obtain cash from Youngster Tax Credit score Enlargement

BATON ROUGE, La. (WAFB) – Hundreds of thousands of Louisiana households could receive direct payments Thursday under the expanded child tax credits.

It’s all part of the American rescue plan that Congress passed back in March.

The aim is to reduce child poverty in the country by 50%.

“And there hasn’t been a program since 1960 that has such an impact on families,” said District II Congressman Troy Carter (D).

Congressman Carter was in Baton Rouge for a town hall on Wednesday to speak with families about how the new expansion of the child tax break works and who can actually get those payments.

Hundreds of thousands of Louisiana residents are expected to receive cash from expanding child tax credits(WAFB)

“You qualify if you make less than $ 150,000 as a couple or $ 75,000 as an individual,” said Rep. Carter.

From July 15 through December, families who qualify can up to:

– $ 300 per month per child, for children ages 0-5

– $ 250 per month per child, for children 6-17 years of age

Child Tax Credit Breakdown(WAFB)

“So there really is something for everyone. Black, white, Republican, Democrat, it’s an American thing, it’s a Louisiana thing, it’s a people thing, “the congressman said.

“Hoping we can use it for things he needs,” said Triniece Finley, who was visiting town hall.

Finley is a single mom and says every little bit helps when it comes to extra cash for her 6 year old son Logan.

“Swimming lessons and whatever he needs in school and stuff,” Finley said.

“Yes, every dollar counts,” said Deshawn Porter, who was visiting City Hall.

Porter is in the same boat and already has some ideas about how she would use the extra money.

“School supplies, school uniforms, because things are so expensive these days, we have to sacrifice to get what we need to get,” Porter said.

If you’ve filed your 2019 or 2020 tax returns, or signed up for a stimulus check from the IRS, you’ll receive this money automatically. So you don’t have to sign up anywhere.

“You will likely have this transfer deposited directly into your checking account (if you submitted electronically). If you haven’t filed this this way, checks will be dropped in the mailbox so you can get them in the mail, ”said Rep. Carter.

While this is only a 6 month program, Carter hopes it will be permanent. To do this, however, Congress needs bipartisan support.

Scammers are already finding ways to take money from families waiting for these children ...Scammers are already finding ways to take money from families waiting for these child tax breaks.(WAFB)

“Why shouldn’t we give resources to people who are here in our country, who fight and live in America, the greatest country in the world,” said Troy Carter.

Scammers are already finding ways to take money from families waiting for these child tax breaks.

South Central Louisiana’s Better Business Bureau would like to remind you that the only agency that distributes payments is the IRS.

This means the IRS won’t send you a text message or email asking for your social security number or personal banking information.

So if you get a strange message asking for it, don’t reply.

You can visit Congressman Troy Carter website for more help.

If you have any questions about these credits, please check their status and eligibility, Click here.

Click here report a typo.

Copyright 2021 WAFB. All rights reserved.

New Frontier Outfitters elevating cash for hundreds of Kentuckians impacted by flooding

MOREHEAD, Ky. (WKYT) – More and more companies are joining the Appalachia Rises efforts to help those affected by the floods of the week. Thousands across Kentucky have been left homeless, and now you can help.

Joshua Ravenscraft and friends have explored all of Kentucky.

“We are all looking for the grindstone, the faith and the sand. We are all hardworking people and we will keep it up, ”said Ravenscraft, COO of New Frontier Outfitters.

Hundreds of thousands of people across Kentucky lost everything in the floods.

“They are hardworking, resilient people. If it had happened to us, we would expect people to come to help us. This is just one Eastern Kentuckian shaking hands with another Eastern Kentuckian, ”Ravenscraft said.

Ravenscraft and his brother Jared started the outdoor apparel business to highlight the good throughout the Appalachian region. Days after the flood, they found a way to help.

“Long-sleeved shirts, t-shirts and hats are just one way to help the victims affected by the floods,” Ravenscraft said.

As part of Appalachia Rises, which was launched by AppHarvest, 100% of the proceeds from the merch will be used for flood relief. Sporty something that for so many people in the region is less a catchphrase than a way of life.

“Appalachia Rises is a hope for the future. When that happens, roll up your sleeves and help your neighbor get through, ”Ravenscraft said.

Mother Nature has been relentless for the past few weeks, but she is aiming for a community that proves time and time again that she will not give up.

Appalachia Rises has brought together more than half a dozen organizations. Together they ran a large-scale fundraiser anchored by a telethon on Monday at 7 p.m. that airs on CBS subsidiaries, here on WKYT and WYMT in Hazard.

Copyright 2021 WKYT. All rights reserved.