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Latest Doug Steenland Stories

2008-10-22 09:00:25

Northwest Airlines Corporation (NYSE: NWA) today reported a third quarter 2008 net loss of $317 million, or $1.20 per share. The reported results include a $410 million non-cash charge associated with marking-to-market out-of-period fuel hedges as required by Statement of Financial Accounting Standard (SFAS) 133, Accounting for Derivative Instruments and Hedging Activities. Excluding this charge, Northwest reported an adjusted net income of $93 million for the quarter, or $0.35 per share....

2008-09-25 15:00:37

Shareholders of Minnesota's Northwest Airlines voted yes to a merger with Delta Air Lines at an annual meeting in New York City, the company said Thursday. The airline now awaits word on a vote among Delta's shareholders, which was scheduled Thursday afternoon. The 98 percent approval among Northwest shareholders was "a resounding vote of confidence ... and a great day for our employees," Northwest President Doug Steenland said in a statement. The companies, which received Federal...

2008-07-24 18:00:43

By Jane Roberts Northwest Airlines on Wednesday joined the rest of the industry in reporting significant second-quarter losses due to fuel costs. Northwest lost $377 million, or $1.43 a share, for the quarter ended June 30, compared with a net income of $2.1 billion in the same period last year. Excluding one-time charges and other factors, Northwest would have reported $170 million in income versus the $205 million it reported last year. Meanwhile, the carrier's fuel costs increased...

2008-07-10 21:00:21

Northwest Airlines (NYSE:NWA) President and CEO Doug Steenland criticized financial speculation in light of today's rapid run-up in oil prices in the final hour of trading and said, "If anybody needed any further evidence that the oil markets are being directly influenced and affected by financial speculation, today's result ends that debate." He added, "With no single event occurring that would cause supply to decrease or demand for oil to increase, the price in the last 20 minutes of...

2008-07-09 15:00:24

Northwest Airlines (NYSE: NWA) today announced it will reduce its frontline and management employees by 2,500 as a result of capacity reductions taken to address the unprecedented run-up in oil prices. In addition, NWA will match its competitors and charge fees for the first checked bag and for frequent flier award tickets, and increase the fees for ticket changes. "Our fuel costs have more than doubled in the past year," said Doug Steenland, President and CEO of Northwest Airlines. "In...

2008-06-24 02:29:58

Steenland to call for further oversight and regulation of speculative trading of oil futures to help ease industry's extraordinary fuel costs Northwest Airlines Logo: http://www.nwa.com Northwest Airlines (NYSE:NWA): TABLE What:________ Hearing before U.S. Energy and Commerce Committee Subcommittee on Oversight and Investigations When:_________ Monday, June 23, 2008 ______________ Testimony begins at 11:00 EDT Where:________ 2123 Rayburn House Office Building, Washington,...

2008-06-24 02:29:58

Steenland details the impact of surging oil prices on airline industry; calls for greater regulation of oil speculators Northwest Airlines Logo: http://www.nwa.com Northwest Airlines (NYSE: NWA) CEO Doug Steenland told members of Congress that surging oil prices are severely challenging the airline industry - and unregulated oil speculation is a major cause of the industry's pain -- as he testified before the House Committee on Energy and Commerce, Subcommittee on Oversight and...

2008-06-23 00:00:17

THE ASSOCIATED PRESS MINNEAPOLIS - Northwest Airlines said it will cut its capacity later this year by 3 percent to 4 percent because of high fuel prices. The reductions were deeper than those announced in April, though they're smaller than cuts announced by many other airlines. The airline said Tuesday it will try to shrink its staff through voluntary means, but layoffs are possible, too. Northwest said it has not yet arrived at the number of positions it wants to eliminate. Northwest...

2008-06-21 09:00:00

By John Welbes, Pioneer Press, St. Paul, Minn. Jun. 21--While an OK from government regulators remains months off and union pilots still need to resolve dicey seniority issues, the heavy lifting involved in integrating Northwest Airlines and Delta Air Lines is under way. In a message to employees this week, the Northwest and Delta CEOs said 25 integration teams are in place, made up of 300 leaders from both airlines. The teams are working on such things as coordinating ticketing and...

2008-06-18 00:00:00

By H.J. Cummins, Star Tribune, Minneapolis Jun. 18--With no relief in sight from high oil prices, Northwest Airlines Tuesday announced its second round of capacity cuts this year as it said it will retire jets and promised an undisclosed number of staff reductions. In a statement, the company said it would first look to "voluntary separation programs" such as early retirement. The Eagan-based airline also said it will raise fares, fees and fuel surcharges, although it released no...


Word of the Day
bibliopole
  • A bookseller; now, especially, a dealer in rare and curious books.
This word comes from a Greek phrase meaning 'book seller.'
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