{"id":55954,"date":"2023-09-01T22:29:33","date_gmt":"2023-09-02T02:29:33","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/the-airlines-get-their-punctuality-scores-needs-improvement\/"},"modified":"2023-09-01T22:29:36","modified_gmt":"2023-09-02T02:29:36","slug":"the-airlines-get-their-punctuality-scores-needs-improvement","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=55954","title":{"rendered":"The Airlines Get Their Punctuality Scores: Needs Improvement"},"content":{"rendered":"
\n

It\u2019s been a busy summer for air travel\u2014and delays. Pandemic 2020 excepted, summer flight delays have been ticking up in recent years. Between this May 1 and Aug. 29, some 24% of flights to, from, or within the U.S. were delayed, says flight-tracker FlightAware. The average delay: 55 minutes, up from 52 minutes in 2022. A \u201cdelayed\u201d flight misses its scheduled arrival by 15 minutes or more.<\/p>\n

\n

Based on FlightAware data,
\n Delta Air Lines
\n is the most punctual major airline this year, with 20% of its flights delayed, followed by
\n Alaska Air
\n with 21%.
\n American Airlines
\n (hit by a record $4.1 million fine this past week for keeping passengers in planes on the tarmac for over three hours) is third with 25%, followed by
\n United Air Lines
\n and
\n Southwest Airlines,<\/span>
\n both at 26%. <\/p>\n

<\/p>\n

<\/p>\n

\n
\n\n\n\n\n\n\n\n\n
Rank<\/th>\nAirport by Origin<\/th>\nNumber of Cancellations<\/th>\nPercentage Delays<\/th>\n<\/thead>\n
1<\/b><\/td>\nTampa International<\/b><\/td>\n9<\/td>\n12%<\/td>\n<\/tr>\n
2<\/b><\/td>\nNewark Liberty<\/b><\/td>\n7<\/td>\n14<\/td>\n<\/tr>\n
3<\/b><\/td>\nChicago O’Hare<\/b><\/td>\n6<\/td>\n15<\/td>\n<\/tr>\n
4<\/b><\/td>\nCharlotte Douglas<\/b><\/td>\n5<\/td>\n32<\/td>\n<\/tr>\n
5<\/b><\/td>\nDallas-Ft. Worth<\/b><\/td>\n5<\/td>\n17<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: FlightAware<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

Trailing the pack,
\n Frontier Group
\n saw 35% of flights delayed,
\n JetBlue Airways
\n 33%, and
\n Spirit Airlines
\n 32%.<\/p>\n

Southwest began 2023 with a holiday travel meltdown and took a $325 million revenue hit in the first quarter. The airline then implemented an action plan, and completed more than 99% of flights in the second quarter, which it said was its best performance in the past 10 years.<\/p>\n

Delays are annoying, but it was airfares and fees that caused passenger satisfaction to fall for a second consecutive year, says J.D. Power. So here\u2019s the good news: Airline fares fell 8.1% in July from June, the fourth consecutive monthly decline, and 18.6% lower than a year earlier. <\/p>\n

Write to <\/strong>Callum Keown at callum.keown@barrons.com<\/p>\n

Last Week<\/h4>\n

Markets<\/h2>\n

Stocks fell again in China, China
\n Evergrande
\n lost 80% of its value, Country Garden requested a delay on a debt payment, and manufacturing shrank for the sixth straight month. In response, China\u2019s central bank finally moved to cut mortgage rates and provide support for the yuan. In the U.S., job openings and consumer confidence fell in July, but consumer spending rose and core inflation slowed. August Job growth also slowed, stifling rate-hike fears. Stocks had a good week, as the
\n Dow Jones Industrial Average
\n rose 1.4%, the
\n S&P 500
\n 2.5%, and the
\n Nasdaq Composite
\n 3.3%.<\/p>\n

Companies<\/h2>\n

3M agreed to a $6 billion settlement with 250,000 veterans, who said the company\u2019s combat earplugs failed to protect them. A federal court told the Securities and Exchange Commission to reconsider
\n Grayscale Bitcoin Trust\u2019s<\/span>
\n request to form a Bitcoin exchange-traded fund.
\n Toyota
\n shut down assembly lines at 14 facilities after a computer-processing system broke down.
\n UBS
\n reported record quarterly earnings of $29 billion.<\/p>\n

Deals<\/h2>\n

\n Goldman Sachs
\n said it would sell its investment advisory business to Creative Planning for $29 billion. The unit was part of its $750 million acquisition of United Group four years ago\u2026Danaher agreed to pay $5.7 billion for protein and antibody maker
\n Abcam,<\/span>
\n which was under pressure from Abcam\u2019s founder and Starboard Value\u2026The Financial Times reported that hedge fund Millennium Management had a $320 billion short on Carlos Slim\u2019s telecom
\n America Movil.<\/span>\n <\/p>\n

Write to <\/strong>Robert Teitelman at bob.teitelman@dowjones.com<\/p>\n

Next Week<\/h4>\n

Monday 9\/4 <\/h2>\n

Equity and fixed-income<\/strong> markets are closed in observance of Labor Day.<\/p>\n

Wednesday 9\/6<\/h2>\n

Danaher hosts an investor day to discuss Veralto, the spinoff of Danaher\u2019s environmental and applied solutions segment. Danaher expects to complete the spinoff on Sept. 30, with stockholders receiving one share of Veralto for every three shares of Danaher owned.<\/p>\n

The Institute for Supply Management<\/strong> releases its Services Purchasing Managers\u2019 Index for August. Consensus estimate is for a 52.4 reading, roughly even with the July data. The Services
\n PMI
\n has had only one reading below the expansionary level of 50 over the past three years, as the services sector continues to hold up better than the manufacturing sector.<\/p>\n

Friday 9\/8<\/h2>\n

The Federal Reserve<\/strong> releases the Financial Accounts of the United States for the second quarter, which includes statistics for total household net worth. That figure was $148.8 trillion at the end of the first quarter. With the S&P 500 index returning 8.7% in the second quarter, the peak of $152.5 trillion reached in the first quarter of 2022 is well within sight.<\/p>\n

Email: <\/strong>editors@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s been a busy summer for air travel\u2014and delays. Pandemic 2020 excepted, summer flight delays have been ticking up in recent years. Between this May 1 and Aug. 29, some 24% of flights to, from, or within the U.S. were delayed, says flight-tracker FlightAware. The average delay: 55 minutes, up from 52 minutes in 2022. […]<\/p>\n","protected":false},"author":1,"featured_media":55955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-55954","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nThe Airlines Get Their Punctuality Scores: Needs Improvement | iFintechWorld<\/title>\n<meta name=\"description\" content=\"It\u2019s been a busy summer for air travel\u2014and delays. 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