Connect with us

Published

on

Some pilots at Spirit Airlines are worried and scouring for other opportunities after a judge last month blocked the low-cost air carrier’s proposed merger with competitor JetBlue Airways, throwing its future into doubt.

Spirit pilots, recruiters and industry sources told Reuters that the ruling has led to increased job applications at other places of employment. Spirit Chief Financial Officer Scott Haralson last week said the company was looking into “right sizing” its labor costs, adding to the uneasiness.

A Spirit spokesperson said attrition levels are not out of the ordinary and pilot resignations this year have trended below its forecast for 2024.

“We remain confident about Spirit’s future and are committed to the well-being of our team members,” the spokesperson said.

The ultra-low-cost carrier has struggled to return to sustainable profitability due to softer demand in core markets and the grounding of dozens of its aircraft due to a snag with RTX’s Pratt & Whitney Geared Turbofan engines.

Analysts are not sure about Spirit’s ability to survive if the $3.8 billion merger deal remains blocked. Some analysts have suggested that the company could face bankruptcy if it cannot shore up its finances, and S&P Global, Moody’s and Fitch all downgraded the airline’s credit ratings after the ruling, citing higher default and refinancing risks.

“It’s very stressful,” said one Spirit pilot with more than five years of experience who has applied for jobs at Delta Air Lines, United  and American Airlines. Another Spirit pilot said he’s spoken to numerous colleagues who are looking for other opportunities. The pilots spoke on the condition of anonymity.

Spirit’s pilot union declined to comment.

Job applications at United from Spirit pilots have increased since the court decision, two industry sources told Reuters. United, which plans to hire 2,000 pilots in 2024, down from 2,350 in 2023, in a statement said it has “a strong applicant pool.”

The job market for pilots has cooled after a two-year boom. Hiring has slowed for five straight months, data from Future & Active Pilot Advisors show, as major carriers have mostly caught up with staffing needs. Hiring in January was down 18% from a year ago.

Flying for United, Delta or American Airlines is seen as an upgrade for pilots at regional and budget carriers like Spirit, but the rise in interest reflects growing worry about Spirit’s future.

“With a seniority-based system you don’t normally move between companies and only in times of failure or real hardship would you even consider it,” said Kit Darby, a US aviation consultant who specializes in pilot career development.

Darby said he has recently spoken to half a dozen Spirit pilots seeking new jobs or career advice.

An exodus of pilots could hurt Spirit’s operations but also reduce costs. The airline had about 3,500 pilots at the end of 2023.

Spirit last week dismissed speculation about its future as a “misguided narrative,” saying it has boosted liquidity to survive even if the merger fails to close.

The Florida-based airline has cut its capacity growth plans. Spirit late last year slowed pilot hiring and promotions to the captain’s chair. It also suspended training for new pilots and flight attendants and offered voluntary time off for cabin crew members.

Spirit last week said it was working on solutions for its labor costs as it has “a lot of staffing” across the board. A spokesperson declined to provide more details.

Those comments left pilots with more questions. One said he was not sure how Spirit would resolve over-staffing, saying he hoped enough pilots would leave voluntarily to avoid potential furloughs.

Continue Reading

World

Trump could meet Putin as early as next week to discuss Ukraine ceasefire – White House official

Published

on

By

Trump could meet Putin as early as next week to discuss Ukraine ceasefire - White House official

Donald Trump could meet Vladimir Putin in person as early as next week to discuss a ceasefire in Ukraine, a White House official has said.

They said the meeting would be conditional on the Russian president meeting his Ukrainian counterpart Volodymyr Zelenskyy, Sky News’s US partner network NBC News reported.

It came days before the White House’s deadline for Russia to reach a peace deal with Ukraine or face severe economic penalties, which could also target countries buying its oil.

Ukraine war latest

Asked during a news conference at the White House if the talks would take place, Mr Trump said: “There’s a very good prospect that they will.”

He said it had not been determined where the talks would take place, but added: “We had some very good talks with President Putin today.”

However, he said: “I’ve been disappointed before with this one.”

Asked if Mr Putin made any kind of concession to lead to the development, Mr Trump did not give much away, but added: “We’ve been working on this a long time. There are thousands of young people dying, mostly soldiers, but also, you know, missiles being hit into Kyiv and other places.”

Trump might finally be a step closer to ending the war

Seven hours is a long time in US politics.

At 10am, Donald Trump accused Russia of posing a threat to America’s national security.

At 5pm, Trump said there was a “good prospect” of him meeting Vladimir Putin “soon”.

There had, he claimed, been “great progress” in talks between his special envoy Steve Witkoff and the Russian president.

It’s difficult to gauge the chances of a meeting between the two leaders without knowing what “great progress” means.

Is Russia “inclined” towards agreeing a ceasefire, as Ukraine’s president now claims?

Is Putin prepared to meet with his Ukrainian foe Volodymyr Zelenskyy, too?

The very fact that we’re asking those questions suggests something shifted on a day when there was no expectation of breakthrough.

Trump repeatedly vowed to end the war within 24 hours of becoming president.

On day 198 of his presidency, he might, just might, be one step closer to achieving that.

More tariffs ‘could happen’

Mr Trump also said he could announce further tariffs on China similar to the 25% he announced on India over its purchases of Russian oil.

“Could happen,” he said, after saying he expected to announce more secondary sanctions intended to pressure Russia into ending its war with Ukraine.

Earlier, he imposed an additional 25% tariff on Indian goods, on top of a previous 25% tariff, over its continued purchases of Russian oil.

India’s foreign ministry spokesperson said the additional tariffs were “unfair, unjustified and unreasonable”.

Vladimir Putin welcomes Steve Witkoff during a meeting in Moscow. Pic: Sputnik/Reuters
Image:
Vladimir Putin welcomes Steve Witkoff during a meeting in Moscow. Pic: Sputnik/Reuters

It came after Mr Putin held talks with Mr Trump‘s special envoy Steve Witkoff in Moscow, with the meeting lasting around three hours.

In a post on Truth Social, Mr Trump said Mr Witkoff “had a highly productive meeting” with Mr Putin in which “great progress was made”.

He said he had updated America’s European allies, and they will work towards an end to the Russia-Ukraine war “in the days and weeks to come”.

Please use Chrome browser for a more accessible video player

Correspondents in Washington and Moscow break down a busy day of diplomacy

‘The war must end’

Mr Zelenskyy later said he and Mr Trump spoke on the phone after the meeting. He said “European leaders also participated in the conversation” and “we discussed what was said in Moscow”.

He added: “Our common position with our partners is absolutely clear: The war must end. We all need lasting and reliable peace. Russia must end the war that it started.”

Mr Zelenskyy later said: “It seems that Russia is now more inclined to agree to a ceasefire.”

He added that the pressure on Moscow “is working”, without elaborating, and stressed it was important to make sure Russia does not “deceive us or the United States” when it comes to “the details” of a potential agreement.

Continue Reading

US

Trump could meet Putin as early as next week to discuss Ukraine ceasefire – White House official

Published

on

By

Trump could meet Putin as early as next week to discuss Ukraine ceasefire - White House official

Donald Trump could meet Vladimir Putin in person as early as next week to discuss a ceasefire in Ukraine, a White House official has said.

They said the meeting would be conditional on the Russian president meeting his Ukrainian counterpart Volodymyr Zelenskyy, Sky News’s US partner network NBC News reported.

It came days before the White House’s deadline for Russia to reach a peace deal with Ukraine or face severe economic penalties, which could also target countries buying its oil.

Ukraine war latest

Asked during a news conference at the White House if the talks would take place, Mr Trump said: “There’s a very good prospect that they will.”

He said it had not been determined where the talks would take place, but added: “We had some very good talks with President Putin today.”

However, he said: “I’ve been disappointed before with this one.”

Asked if Mr Putin made any kind of concession to lead to the development, Mr Trump did not give much away, but added: “We’ve been working on this a long time. There are thousands of young people dying, mostly soldiers, but also, you know, missiles being hit into Kyiv and other places.”

Trump might finally be a step closer to ending the war

Seven hours is a long time in US politics.

At 10am, Donald Trump accused Russia of posing a threat to America’s national security.

At 5pm, Trump said there was a “good prospect” of him meeting Vladimir Putin “soon”.

There had, he claimed, been “great progress” in talks between his special envoy Steve Witkoff and the Russian president.

It’s difficult to gauge the chances of a meeting between the two leaders without knowing what “great progress” means.

Is Russia “inclined” towards agreeing a ceasefire, as Ukraine’s president now claims?

Is Putin prepared to meet with his Ukrainian foe Volodymyr Zelenskyy, too?

The very fact that we’re asking those questions suggests something shifted on a day when there was no expectation of breakthrough.

Trump repeatedly vowed to end the war within 24 hours of becoming president.

On day 198 of his presidency, he might, just might, be one step closer to achieving that.

More tariffs ‘could happen’

Mr Trump also said he could announce further tariffs on China similar to the 25% he announced on India over its purchases of Russian oil.

“Could happen,” he said, after saying he expected to announce more secondary sanctions intended to pressure Russia into ending its war with Ukraine.

Earlier, he imposed an additional 25% tariff on Indian goods, on top of a previous 25% tariff, over its continued purchases of Russian oil.

India’s foreign ministry spokesperson said the additional tariffs were “unfair, unjustified and unreasonable”.

Vladimir Putin welcomes Steve Witkoff during a meeting in Moscow. Pic: Sputnik/Reuters
Image:
Vladimir Putin welcomes Steve Witkoff during a meeting in Moscow. Pic: Sputnik/Reuters

It came after Mr Putin held talks with Mr Trump‘s special envoy Steve Witkoff in Moscow, with the meeting lasting around three hours.

In a post on Truth Social, Mr Trump said Mr Witkoff “had a highly productive meeting” with Mr Putin in which “great progress was made”.

He said he had updated America’s European allies, and they will work towards an end to the Russia-Ukraine war “in the days and weeks to come”.

Please use Chrome browser for a more accessible video player

Correspondents in Washington and Moscow break down a busy day of diplomacy

‘The war must end’

Mr Zelenskyy later said he and Mr Trump spoke on the phone after the meeting. He said “European leaders also participated in the conversation” and “we discussed what was said in Moscow”.

He added: “Our common position with our partners is absolutely clear: The war must end. We all need lasting and reliable peace. Russia must end the war that it started.”

Mr Zelenskyy later said: “It seems that Russia is now more inclined to agree to a ceasefire.”

He added that the pressure on Moscow “is working”, without elaborating, and stressed it was important to make sure Russia does not “deceive us or the United States” when it comes to “the details” of a potential agreement.

Continue Reading

Technology

Firefly Aerospace prices shares at $45, above the expected range

Published

on

By

Firefly Aerospace prices shares at , above the expected range

The Blue Ghost Mission Operations Engineer, Jaxon Liebeck, showcases the Blue Ghost moon lander at Firefly Aerospace headquarters on Tuesday, Dec. 3, 2024 in Cedar Park.

Houston Chronicle/hearst Newspapers | Hearst Newspapers | Getty Images

Firefly Aerospace priced shares in its IPO at $45 on Wednesday, above its expected range.

The Texas-based rocket maker will debut on the Nasdaq Thursday under the ticker symbol “FLY.” The offering raised $868 million and values the company at about $6.3 billion.

Firefly filed its initial prospectus in July and upped its IPO range this week to $41 to $43 a share, from an initial range of $35 to $39.

The space technology sector has seen rising investor interest over the last few years as billionaire investors such as Elon Musk and Jeff Bezos put their money behind SpaceX and Blue Origin, respectively.

So far this year, space technology companies Voyager Technology and Karman Holdings have gone public.

The broader IPO landscape has also seen major public debuts this year from Figma, CoreWeave and Circle as the market for public offerings reopens following a prolonged drought.

Read more CNBC tech news

Volunteers experience life on Mars in the Utah desert

Continue Reading

Trending