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 Posted: Wed 2:42, 04 Sep 2013 Post subject: Southwest adds 'no show' charge |
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Southwest adds 'no show' charge,[link widoczny dla zalogowanych]
Southwest Airlines Co.,[link widoczny dla zalogowanych], the discount carrier with the Fly Free slogan,[link widoczny dla zalogowanych], forecast $100 million in annual revenue from fee changes that will include the first charges for no-shows on flights and premium boarding positions.
The new fees and increases to existing charges will start in the first quarter, Chief Commercial Officer Bob Jordan said Friday at an investor meeting in New York. Dallas-based Southwest expects to boost revenue by $1.1 billion in 2013 as it works to cover rising labor and jet-fuel costs amid growing competition.
Southwest fee moves mark a departure from its reputation as a no-frills carrier that bucked the rest of the industry by letting passengers check two bags for free and change flights without penalty. The no-show fee would be levied on passengers who don cancel tickets before a flight.
one is pretty industry standard,[link widoczny dla zalogowanych], Chief Executive Officer Gary Kelly said. understand we could all benefit from the opportunity to resell a seat. Once the airplane takes off and it empty,[link widoczny dla zalogowanych], we can ever resell it. Kelly didn rule out that other fees may be added in the future,[link widoczny dla zalogowanych], saying don have a first bag fee idea for 2013 or a change fee. With the changes, Southwest expects doubling or more of earnings year over year in 2013,[link widoczny dla zalogowanych], Kelly said, without giving details. The forecast is based on unchanged economic conditions and fuel prices. Southwest net income through 2012 first nine months was $343 million on $12.9 billion in sales.
Passengers can still check two pieces of luggage for free,[link widoczny dla zalogowanych], although charges for a third checked bag will increase an unspecified amount, said Jordan,[link widoczny dla zalogowanych], who is also president of the AirTran unit. The overweight-bag fee will double to $100.
Southwest already has a charge to reserve an early boarding slot, and will increase that fee to $12.50 from $10. Starting next year, passengers can get an early-boarding slot by paying a fee at the gate.
At AirTran, the first checked bag fee will rise to $25 from $20 and a second bag to $35 from $25, Jordan said.
After stay-at-home mother Emily McCall had her second daughter, escaping the house became more necessary. economy.
US Steel shrinks 4Q loss to $50M
US Steel reported a smaller fourth-quarter loss as carmakers and other manufacturers used more steel, and it said shipments should rise in the current quarter.
Pfizer Q4 net jumps on sale of nutrition business
Drugmaker Pfizer Inc.'s fourth-quarter results easily beat Wall Street expectations, driving up its stock,[link widoczny dla zalogowanych], as profit more than quadrupled, due to tighter spending and a $4.8 billion gain from selling its nutrition business.
Philips loss widens in Q4,[link widoczny dla zalogowanych]; sheds division
Royal Philips Electronics NV Tuesday said it will sell the entertainment division which contains many of the consumer products for which it is best known,[link widoczny dla zalogowanych], such as audio and video equipment, to Funai Electric Co.,[link widoczny dla zalogowanych], Ltd.,[link widoczny dla zalogowanych], of Japan for (EURO)150 million ($202 million) plus licensing fees.
Chesapeake's embattled CEO McClendon to retire
Aubrey McClendon, the brash and embattled CEO of Chesapeake Energy Corp., will leave the company he founded 24 years ago amid philosophical differences with the company's new board of directors.
Supplying smaller retailers can result in a better payoff
After taxing negotiations with three different big-box retailers in a five month span,[link widoczny dla zalogowanych], Fortis Design owner Rob Jordan was ready to return to a base of smaller customers.
Hostess set to announce bidder for Twinkies
The indestructible Twinkie appears to be one step closer to a comeback,[link widoczny dla zalogowanych].
When a business owner wants out,[link widoczny dla zalogowanych], options require planning
Tom Valone, owner of the Great Outdoor Provision Co., recently announced that four members of the store's management team would acquire the business that he co-founded in 1972. The decision came after Valone spent years exploring different exit strategies.
Quintiles is reportedly still considering an IPO
Quintiles,[link widoczny dla zalogowanych], the world's largest pharmaceutical services company, is reportedly getting serious about an initial public offering of stock. Bloomberg News,[link widoczny dla zalogowanych], citing three people knowledgeable about the situation,[link widoczny dla zalogowanych], reports that two major investors in the privately held Durham company are interviewing investment banks about handling an IPO.
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