Neha Jain: Best Source for Canadian Aviation News

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Thursday, March 10, 2011

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1. Atmos Energy Stock Hits New 52-Week High (ATO)

By TheStreet Wire 03/09/11 - 12:13 PM EST
NEW YORK (TheStreet) -- Atmos Energy Corporation (NYSE:ATO) hit a new 52-week high Wednesday as it traded at $35.25 compared with its previous 52-Week high of $35.22. Atmos Energy is changing hands at $34.94 with 128,608 shares traded as of 11:45 a.m. ET. Average volume has been 363,500 shares over the past 30 days.

Atmos Energy has a market cap of $3.2 billion and is part of the utilities sector and utilities industry. Shares are up 12.1% year to date as of the close of trading on Tuesday.

Atmos Energy Corporation, together with its subsidiaries, engages primarily in the distribution, transmission, and storage of natural gas in the United States. The company has a P/E ratio of 17.3, above the average utilities industry P/E ratio of 17.2 and equal to the S&P 500 P/E ratio of 17.3.

TheStreet Ratings rates Atmos Energy as a buy. The company's strengths can be seen in multiple areas, such as its attractive valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Atmos Energy Ratings Report.

2.Paul Hogan leaves the ATO in his wake - again
DESPITE taking yet another swipe at the ATO, Paul Hogan was all smiles as he jetted out of Australia yesterday.

Hoges, who this week accused the ATO of shredding papers he said would help his $150 million tax battle, which the ATO denies, flew back to LA after a brief visit for his mate John Cornell's 70th.

When we bade him farewell at Sydney Airport yesterday he quipped: "I might be back in a second, you never know," referring to last year's ATO-imposed travel ban.

Hoges also paid tribute to late paparazzo Peter Carrette.

3. Sound Tigers sign Ginand to ATO

Forward set to make professional debut tomorrow night in Albany

BRIDGEPORT, CT - The Bridgeport Sound Tigers announced Tuesday afternoon that they have signed forward Phil Ginand to an amateur tryout contract (ATO).

Ginand, 22, comes to the Sound Tigers from Mercyhurst College of the Atlantic Hockey Association. The Milford, Mass. native has appeared in 27 games this season with the Lakers, recording 12 goals and eight assists. The Sound Tigers travel to the Times Union Center tomorrow night in Albany where Ginand could make his professional debut.

4. ATO TN Power 15 #4 David Furgeson
You cannot talk about Tennessee MMA and not mention Dave Ferguson.

Dave wears many hats in the MMA world, but he is probably best known for running and owning the mid-south’s premier gym, Memphis Judo & Jiu-Jitsu. Several of the top fighters in the mid-south train out of Dave’s gym including Brian Hall, Austin Lyons, Tim Galuzzi, Jeremiah Trundle, Mike Houston, and UFC and TUF vets Mike Wessel, Roli Delgado, and John-David Shackelford.

Also, whenever a big name comes to town, Memphis Judo & Jiu-Jitsu is usually the first place they check out to get in a workout (Forrest Griffin was there not to long ago).

On top of owning the most prestigious gym in all the mid-south, Dave has also been a referee, matchmaker, and judge for promotions such as Strikeforce, Bellator, Prizefight, Empire Fighting Championships, and V3Fights. Last November Furgeson was a referee for Strikeforce Challengers in Jackson, MS. A month later when Strikeforce brought a Challengers show to Nashville Big Dave was a judge.

What probably impresses people most about Dave is that he actually got in the cage and mixed it up with UFC Hall of Famer Dan “The Beast” Severn several years ago.

Whenever there is an MMA event in the mid-south, you can bet that Dave Ferguson is involved with it in one way or another. So congratulations goes out to Dave Ferguson for being named #4 on ATO’s Power 15.

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Neha Jain

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Friday, March 4, 2011

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1. UPDATE 2-WestJet, Porter Airlines planes fuller in February

* WestJet Feb load factor 83.6 pct vs 82.5 pct, last year

* WestJet says capacity up 10.7 pct

* Porter Airlines capacity up 18.5 pct (Rewrites, adds Porter Airlines' february load factor and capacity, updates share movement)

March 3 (Reuters) - WestJet Airlines Ltd , Canada's No. 2 carrier, and privately held regional carrier Porter Airlines flew more passengers in February versus a year earlier.

Canada's second-biggest airline WestJet's load factor -- the percentage of available seats filled with paying customers -- rose to 83.6 percent last month from 82.5 percent in February, 2010.

The low-cost airline said revenue passenger miles, or traffic, rose 12.2 percent to 1.36 billion, year-over-year, and capacity, measured in available seat miles, was up 10.7 percent to 1.63 billion, over the same period.

Most of the increase in capacity came in from its trans-border and international routes, WestJet said in a statement.

WestJet, which entered a code-share agreement with American Airlines earlier this week, said consumer demand has been strong and business bookings continue to show strength, moving forward in 2011.

Porter, a small airline that flies out of Toronto's downtown Billy Bishop Airport, said it increased capacity by 18.5 percent and traffic by 28.7 percent over January 2010.

The February load factor rose to 50.6 percent from 46.5 percent, said Porter Airlines, which will also serve Ontario cities of Windsor and Sault Ste. Marie in the next few months.

Calgary-based WestJet shares were trading up more than 1 percent at C$15.65 on Thursday on the Toronto Stock Exchange.

2. ir fares set for record hikes in 2011?

Airfares may be set for a record-breaking series of increases in 2011 as oil prices surge, one leading air travel expert has predicted.
Some of Canada’s biggest airlines, which have already pushed up ticket prices this year in response to rising costs, said they are monitoring the latest spike in crude oil prices closely.

Airfares at some of the biggest U.S. carriers such as United Airlines, Continental and US Airways went up by $10 a round trip this week, while Delta upped its fares by between $10 and $14.

Prices at the big North American airlines have now gone up six times this year, that compares with four hikes in 2010 and three in 2009, according to figures from FareCompare.com, which monitors 500 airlines worldwide.

“We’re on pace for a record,” said FareCompare chief executive and co-founder Rick Seaney, adding there were 17 hikes in 2007. “The first< increases were related to pricing power from the airlines, but the last few have definitely been related to oil prices.”

Prices for the leisure traveller in the U.S. have risen by about $50 this year, or as much as 25% depending on the ticket price, whereas business fares are up $100, or about 15%, Seaney said.

WestJet, Canada’s second-biggest airline, has put up prices three times,once in January and twice in February because of high fuel charges and is continuing to monitor the price of oil. Its increases were between $5 and $10 depending on the distance travelled and the fare class.

Air Canada has also been responding through higher fares and surcharges, but said it was unable to give specific figures on how much prices have risen. Porter Airlines, which flies more fuel-efficient Bombardier Q400 turboprop jets, said it hasn’t imposed any fuel surcharges.

The turmoil in the Middle East has coupled with rising demand to push oil prices to their highest levels in two and a half years. Fuel prices are the biggest expense for an airline accounting for about 30% of costs. WestJet said every one cent increase in the price of jet fuel costs theCalgary-based carrier an extra $10 million.

Air Canada said fuel cost it $2.65 billion last year, with every $1 change in the price of West Texas Intermediate, the benchmark price for U.S. oil, cutting operating income by $25 million.

The spike in oil prices comes just as demand for air travel was picking up again after the slumping during the financial crash, which lead to one of the worst year’s on record for the aviation industry. Analysts said demand in Canada and the rest of the world remains robust and so far the increase in prices is not having an impact on travel.

“The economy has come back quite robustly and business travel is on the increase, so the marketplace is in a position to be fairly resilient so some spikes in oil prices,” Porter president and chief executive Robert Deluce said.

Both WestJet and Porter on Thursday announced an improvement in February load factor, a measure of airline performance.

“There has been continued strength in year-over-year demand and so far there does not seem to be any reason for that to slow down,” said P.I. Financial aviation analyst Chris Murray. “But there is a delicate balance between the price of the fare and demand.”

But the International Air Transport Association warns the pick up in demand will do little to offset the surging costs.

Geneva-based IATA on Wednesday cut its forecast for 2011, saying net profit is likely to be half of last year’s level.

“Political unrest in the Middle East has sent oil over $100 per barrel. That is significantly higher than the $84 per barrel that was the assumption in December,” IATA director general and chief executive Giovanni Bisignani said. “At the same time the global economy is now forecast to grow by 3.1% this year, a full 0.5 percentage point better than predicted just three months ago. But stronger revenues will provide only a partial offset to higher costs.”

3. Business Briefs: American Airlines reaches agreement with Canadian airline
American Airlines and Canada's WestJet Airlines announced a new code-share and frequent-flyer agreement Monday, following an interline agreement they signed in October. The code-share agreement, which allows the carriers to sell each other's flights, is subject to regulatory approval. The carriers say it will allow American customers connecting service to up to 20 new Canadian cities. WestJet will initially put its code on American flights from Canada to Chicago and Boston, with other U.S. cities following later. -- Andrea Ahles
China and U.S. securities
China, the biggest buyer of U.S. Treasury securities, owns a lot more than previously estimated. In an annual revision of the figures, the Treasury Department said Monday that China's holdings totaled $1.16 trillion at year's end, an increase of 30 percent over the government's estimate two weeks ago. The change was based on more accurate information obtained in an annual survey that better determines owners of Treasury securities.
-- The Associated Press
Madoff's yacht dispute
The trustee liquidating convicted con man Bernard Madoff's firm asked a bankruptcy judge to approve an agreement with an investment firm over the disputed ownership of Madoff's yacht, the Bull. Financiere Meeschaert SA will pay $500,000 to Madoff Securities International Ltd. and drop its claim to the yacht. The U.S. attorney's office in New York, which has forfeited the yacht, won't pursue any civil claims against Meeschaert regarding its attempts to seek ownership of the yacht, according to the filing. A U.K. court last year declined to rule on the ownership of the $7 million yacht. The Bull had been seized by French authorities the previous year at the request of Meeschaert.
-- The Associated Press
CEO gets $1 annual salary
Citigroup CEO Vikram Pandit received $1 in total compensation for 2010, according to an Associated Press analysis of a regulatory filing. In a securities filing Monday, the New York bank said Pandit's salary was $1. He received no bonus or stock awards. Citigroup was among the hardest-hit of the large U.S. banks during the financial crisis that peaked in 2008 and was bailed out twice by the government for a total of $45 billion.

By
Neha Jain