Trainer Refinery, Delta’S Secret Weapon Tools for Managing Your 401(K)
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Pennsylvania's RFS Waiver Request: Separating Fact from Fiction
Pennsylvania’s RFS Waiver Request: Separating Fact from Fiction On November 2, 2017, Pennsylvania Gov. Tom Wolf submitted a letter to Environmental Protection Agency (EPA) Administrator Scott Pruitt asking that the 2017 and 2018 Renewable Fuel Standard (RFS) requirements for conventional renewable fuel be limited to no more than 9.7% of annual gasoline demand. Gov. Wolf’s letter asks for the waiver “to provide relief to refiners in Pennsylvania and elsewhere,” expresses concern about “the high cost of compliance,” and suggests the RFS threatens to “severely harm” the economy.1 The waiver request follows a letter Gov. Wolf sent to President Trump on October 20, 2017, requesting that the President direct EPA to “…waive the renewable volume obligation for Northeast refiners until or unless the market prices [for RINs] deflate.”2 Gov. Wolf continues to overlook a number of important realities regarding RIN credits and the gasoline market, factors affecting profitability in the Northeast refining sector, and the burden of proof associated with demonstrating “severe harm” and securing a waiver of RFS requirements. When these facts are properly taken into consideration, it is clear that EPA has no choice but to deny Gov. Wolf’s request for a waiver of the RFS requirements. Merchant refiners recoup their RIN costs through wholesale gasoline prices. Numerous studies—including some funded by the oil industry—have shown that merchant refiners recover their RIN costs by slightly marking up the price of gasoline blendstock sold into the wholesale -
View Annual Report
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2016 Or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-5424 DELTA AIR LINES, INC. (Exact name of registrant as specified in its charter) Delaware 58-0218548 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Post Office Box 20706 Atlanta, Georgia 30320-6001 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (404) 715-2600 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Common Stock, par value $0.0001 per share New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes þ No o Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes o No þ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. -
My Personal Callsign List This List Was Not Designed for Publication However Due to Several Requests I Have Decided to Make It Downloadable
- www.egxwinfogroup.co.uk - The EGXWinfo Group of Twitter Accounts - @EGXWinfoGroup on Twitter - My Personal Callsign List This list was not designed for publication however due to several requests I have decided to make it downloadable. It is a mixture of listed callsigns and logged callsigns so some have numbers after the callsign as they were heard. Use CTL+F in Adobe Reader to search for your callsign Callsign ICAO/PRI IATA Unit Type Based Country Type ABG AAB W9 Abelag Aviation Belgium Civil ARMYAIR AAC Army Air Corps United Kingdom Civil AgustaWestland Lynx AH.9A/AW159 Wildcat ARMYAIR 200# AAC 2Regt | AAC AH.1 AAC Middle Wallop United Kingdom Military ARMYAIR 300# AAC 3Regt | AAC AgustaWestland AH-64 Apache AH.1 RAF Wattisham United Kingdom Military ARMYAIR 400# AAC 4Regt | AAC AgustaWestland AH-64 Apache AH.1 RAF Wattisham United Kingdom Military ARMYAIR 500# AAC 5Regt AAC/RAF Britten-Norman Islander/Defender JHCFS Aldergrove United Kingdom Military ARMYAIR 600# AAC 657Sqn | JSFAW | AAC Various RAF Odiham United Kingdom Military Ambassador AAD Mann Air Ltd United Kingdom Civil AIGLE AZUR AAF ZI Aigle Azur France Civil ATLANTIC AAG KI Air Atlantique United Kingdom Civil ATLANTIC AAG Atlantic Flight Training United Kingdom Civil ALOHA AAH KH Aloha Air Cargo United States Civil BOREALIS AAI Air Aurora United States Civil ALFA SUDAN AAJ Alfa Airlines Sudan Civil ALASKA ISLAND AAK Alaska Island Air United States Civil AMERICAN AAL AA American Airlines United States Civil AM CORP AAM Aviation Management Corporation United States Civil -
Aircraft Noise and Operations Report 2014 Bi-Annual Summary January – June
Aircraft Noise and Operations Report 2014 Bi-Annual Summary January – June Cincinnati/Northern Kentucky International Airport AIRCRAFT NOISE AND OPERATIONS REPORT 2014 BI-ANNUAL SUMMARY JANUARY - JUNE Table of Contents and Summary of Reports Aircraft Noise Report Page 1 This report details the locations of all complaints for the reporting period. Comparisons include state, county and areas within each county. Quarterly & Annual Comparison of Complaints Page 2 This report shows the trends of total complaints comparing the previous five years by quarter to the current year. Complaints by Category Page 3 Complaints received for the reporting period are further detailed by fourteen types of complaints, concerns or questions. A complainant may have more than one complaint, concern or question per occurrence. Complaint Locations and Frequent Complainants Page 4 This report shows the locations of the complainants on a map and the number of complaints made by the most frequent/repeat complainants for the reporting period. Total Runway Usage - All Aircraft Page 5 This report graphically shows the total number and percentage of departures and arrivals on each runway for the reporting period. Nighttime Usage by Large Jets Page 6 This report graphically shows the total number and percentage of large jet departures and arrivals on each runway during the nighttime hours of 10:00 p.m. to 7:00 a.m. for the reporting period. Nighttime Usage by Small Jets and Props Page 7 This report graphically shows the total number and percentage of small jet and prop departures and arrivals on each runway during the nighttime hours of 10:00 p.m. -
CFA Institute Research Challenge Atlanta Society of Finance And
CFA Institute Research Challenge Hosted by Atlanta Society of Finance and Investment Professionals Team J Team J Industrials Sector, Airlines Industry This report is published for educational purposes only by New York Stock Exchange students competing in the CFA Research Challenge. Delta Air Lines Date: 12 January 2017 Closing Price: $50.88 USD Recommendation: HOLD Ticker: DAL Headquarters: Atlanta, GA Target Price: $57.05 USD Investment Thesis Recommendation: Hold We issue a “hold” recommendation for Delta Air Lines (DAL) with a price target of $57 based on our intrinsic share analysis. This is a 11% potential premium to the closing price on January 12, 2017. Strong Operating Leverage Over the past ten years, Delta has grown its top-line by 8.8% annually, while, more importantly, generating positive operating leverage of 60% per annum over the same period. Its recent growth and operational performance has boosted Delta’s investment attractiveness. Management’s commitment to invest 50% of operating cash flows back into the company positions Delta to continue to sustain profitable growth. Growth in Foreign Markets Delta has made an initiative to partner with strong regional airlines across the world to leverage its world-class service into new branding opportunities with less capital investment. Expansion via strategic partnerships is expected to carry higher margin growth opportunities. Figure 1: Valuation Summary Valuation The Discounted Cash Flows (DCF) and P/E analysis suggest a large range of potential share value estimates. Taking a weighted average between the two valuations, our bullish case of $63 suggests an attractive opportunity. However, this outcome presumes strong U.S. -
Attachment F – Participants in the Agreement
Revenue Accounting Manual B16 ATTACHMENT F – PARTICIPANTS IN THE AGREEMENT 1. TABULATION OF PARTICIPANTS 0B 475 BLUE AIR AIRLINE MANAGEMENT SOLUTIONS S.R.L. 1A A79 AMADEUS IT GROUP SA 1B A76 SABRE ASIA PACIFIC PTE. LTD. 1G A73 Travelport International Operations Limited 1S A01 SABRE INC. 2D 54 EASTERN AIRLINES, LLC 2I 156 STAR UP S.A. 2I 681 21 AIR LLC 2J 226 AIR BURKINA 2K 547 AEROLINEAS GALAPAGOS S.A. AEROGAL 2T 212 TIMBIS AIR SERVICES 2V 554 AMTRAK 3B 383 Transportes Interilhas de Cabo Verde, Sociedade Unipessoal, SA 3E 122 MULTI-AERO, INC. DBA AIR CHOICE ONE 3J 535 Jubba Airways Limited 3K 375 JETSTAR ASIA AIRWAYS PTE LTD 3L 049 AIR ARABIA ABDU DHABI 3M 449 SILVER AIRWAYS CORP. 3S 875 CAIRE DBA AIR ANTILLES EXPRESS 3U 876 SICHUAN AIRLINES CO. LTD. 3V 756 TNT AIRWAYS S.A. 3X 435 PREMIER TRANS AIRE INC. 4B 184 BOUTIQUE AIR, INC. 4C 035 AEROVIAS DE INTEGRACION REGIONAL 4L 174 LINEAS AEREAS SURAMERICANAS S.A. 4M 469 LAN ARGENTINA S.A. 4N 287 AIR NORTH CHARTER AND TRAINING LTD. 4O 837 ABC AEROLINEAS S.A. DE C.V. 4S 644 SOLAR CARGO, C.A. 4U 051 GERMANWINGS GMBH 4X 805 MERCURY AIR CARGO, INC. 4Z 749 SA AIRLINK 5C 700 C.A.L. CARGO AIRLINES LTD. 5J 203 CEBU PACIFIC AIR 5N 316 JOINT-STOCK COMPANY NORDAVIA - REGIONAL AIRLINES 5O 558 ASL AIRLINES FRANCE 5T 518 CANADIAN NORTH INC. 5U 911 TRANSPORTES AEREOS GUATEMALTECOS S.A. 5X 406 UPS 5Y 369 ATLAS AIR, INC. 50 Standard Agreement For SIS Participation – B16 5Z 225 CEMAIR (PTY) LTD. -
Delta Air Lines Ecosystem Atlanta, GA 30320 Phone: (404) 715-2600 Delta.Com
Delta Air Lines 1030 Delta Blvd, Delta Air Lines Ecosystem Atlanta, GA 30320 Phone: (404) 715-2600 delta.com Outside Relationships Working Capital; Term Outside Relationships Loan Financing; Fuel, Delta Air Lines, Inc. (A Delaware Corporation) Regulators Capital Suppliers Customers Interest Rate and Securities Regulation Customers Suppliers Capital Regulators Foreign Currencies Debt Structure Equity Structure and Stock Exchange Hedging Programs US and Foreign Commercial Debt ($27.974 B @ 12/31/20) Credit Ratings: S&P – BB; Fitch – BB+; Moody’s – Baa3 Equity Listing Rules Securities Regulators Regulators Banks Secured by Slots, Secured by SkyMiles Assets Common Stock Unsecured 2022 – 2045 NYTDC Special Facilities 2021-2023 3.75% Revolving Secured by Aircraft Equity Capital Significant US Securities U.S. & Other Public Debt Bond Financing Gates and/or Routes 2023-2028 4.5% - 4.75% SkyMiles Notes $6.0B Authorized: 1,500,000,000 Shareholders 2021 – 2029 2.90% - 7.38% Revenue Bonds 4.00% - 5.00% $2.89B Credit Facility $2.65B (Undrawn) 2021-2032 0.81% - 5.75% Notes $1.28B Dividends and Exchange Environmental Holders Issued: 647,352,203 Unsecured Notes $5.35B 2030 1.00% Unsecured CARES Act 2021-2023 5.75% Term Loan 2025 7.00% Senior Secured (Currently Suspended) The Vanguard Commission Protection 2021-2028 2.00% - 8.02% Certificates $2.63B 2023-2027 4.75% SkyMiles Term Loan $3.0B Outstanding: 638,146,665 (SEC) JFK Airport Terminal #4 Payroll Support Program Loan $1.65B $1.49B Notes $3.5B Group Agencies (Air, New York Construction Financing (Financial Water, Soil, and Recordholders: 2,300 Professional Transportation (10.1%) Reporting, GHG Emissions Services Disclosure Development BlackRock Regulation and Governance Finance and Accounting Sales Marketing and Network and Revenue Firms Requirements; Permits) Corporation Communications Management Corporate Matters Fund Advisors Board of Directors Financial Planning Worldwide Customer King & Anti-Corruption U.S. -
Fractional Charter
Under a joint venture with the People’s Global charter market experiences rebound Republic of China, NetJets China plans to manage and charter aircraft, such oming off its long slump following the onset of the 2008 reces- as these Challengers, that are wholly sion, air charter has enjoyed a generally good year around the owned by customers, rather than C introducing fractional ownership. globe, and there are indications that the demand will continue to pick up as the world economy finally rights itself, and charter continues to adapt to the needs of travelers around the world. Here’s a look at the SPECIAL REPORT current state of charter markets in North America, Europe, Asia, Latin America, Africa and the Middle East. & by James Wynbrandt North America hourly rates for light, midsize and large- FRACTIONAL CHARTER Following two slack years, North cabin aircraft over the past six months American air charter flights increased has shown fluctuations from 10 percent almost 9 percent (8.9%) from August above to 3 percent below the previous 2012 to July 2013 over the same period year’s pricing, and domestic operators Challenger 300 for travelers flying to and Whatever the discrepancies in data, a year before, according to aviation complain that aggressive pricing by com- from designated zones. Sentient, which several major Europe-based providers MARKET research and services firm Argus Inter- petitors keeps rates depressed. claims more than 4,000 active customers, report strong growth over the past year, 21 Global charter market experiences rebound part 1 national. Charter flight activity for all Sales of jet cards, whose flight time is saw strong demand in the charter market due as much to business model adjust- 24 Big four national frax list dwindles to two cabin categories was up for the period. -
363 Part 238—Contracts With
Immigration and Naturalization Service, Justice § 238.3 (2) The country where the alien was mented on Form I±420. The contracts born; with transportation lines referred to in (3) The country where the alien has a section 238(c) of the Act shall be made residence; or by the Commissioner on behalf of the (4) Any country willing to accept the government and shall be documented alien. on Form I±426. The contracts with (c) Contiguous territory and adjacent transportation lines desiring their pas- islands. Any alien ordered excluded who sengers to be preinspected at places boarded an aircraft or vessel in foreign outside the United States shall be contiguous territory or in any adjacent made by the Commissioner on behalf of island shall be deported to such foreign the government and shall be docu- contiguous territory or adjacent island mented on Form I±425; except that con- if the alien is a native, citizen, subject, tracts for irregularly operated charter or national of such foreign contiguous flights may be entered into by the Ex- territory or adjacent island, or if the ecutive Associate Commissioner for alien has a residence in such foreign Operations or an Immigration Officer contiguous territory or adjacent is- designated by the Executive Associate land. Otherwise, the alien shall be de- Commissioner for Operations and hav- ported, in the first instance, to the ing jurisdiction over the location country in which is located the port at where the inspection will take place. which the alien embarked for such for- [57 FR 59907, Dec. 17, 1992] eign contiguous territory or adjacent island. -
U.S. Department of Transportation Federal
U.S. DEPARTMENT OF ORDER TRANSPORTATION JO 7340.2E FEDERAL AVIATION Effective Date: ADMINISTRATION July 24, 2014 Air Traffic Organization Policy Subject: Contractions Includes Change 1 dated 11/13/14 https://www.faa.gov/air_traffic/publications/atpubs/CNT/3-3.HTM A 3- Company Country Telephony Ltr AAA AVICON AVIATION CONSULTANTS & AGENTS PAKISTAN AAB ABELAG AVIATION BELGIUM ABG AAC ARMY AIR CORPS UNITED KINGDOM ARMYAIR AAD MANN AIR LTD (T/A AMBASSADOR) UNITED KINGDOM AMBASSADOR AAE EXPRESS AIR, INC. (PHOENIX, AZ) UNITED STATES ARIZONA AAF AIGLE AZUR FRANCE AIGLE AZUR AAG ATLANTIC FLIGHT TRAINING LTD. UNITED KINGDOM ATLANTIC AAH AEKO KULA, INC D/B/A ALOHA AIR CARGO (HONOLULU, UNITED STATES ALOHA HI) AAI AIR AURORA, INC. (SUGAR GROVE, IL) UNITED STATES BOREALIS AAJ ALFA AIRLINES CO., LTD SUDAN ALFA SUDAN AAK ALASKA ISLAND AIR, INC. (ANCHORAGE, AK) UNITED STATES ALASKA ISLAND AAL AMERICAN AIRLINES INC. UNITED STATES AMERICAN AAM AIM AIR REPUBLIC OF MOLDOVA AIM AIR AAN AMSTERDAM AIRLINES B.V. NETHERLANDS AMSTEL AAO ADMINISTRACION AERONAUTICA INTERNACIONAL, S.A. MEXICO AEROINTER DE C.V. AAP ARABASCO AIR SERVICES SAUDI ARABIA ARABASCO AAQ ASIA ATLANTIC AIRLINES CO., LTD THAILAND ASIA ATLANTIC AAR ASIANA AIRLINES REPUBLIC OF KOREA ASIANA AAS ASKARI AVIATION (PVT) LTD PAKISTAN AL-AAS AAT AIR CENTRAL ASIA KYRGYZSTAN AAU AEROPA S.R.L. ITALY AAV ASTRO AIR INTERNATIONAL, INC. PHILIPPINES ASTRO-PHIL AAW AFRICAN AIRLINES CORPORATION LIBYA AFRIQIYAH AAX ADVANCE AVIATION CO., LTD THAILAND ADVANCE AVIATION AAY ALLEGIANT AIR, INC. (FRESNO, CA) UNITED STATES ALLEGIANT AAZ AEOLUS AIR LIMITED GAMBIA AEOLUS ABA AERO-BETA GMBH & CO., STUTTGART GERMANY AEROBETA ABB AFRICAN BUSINESS AND TRANSPORTATIONS DEMOCRATIC REPUBLIC OF AFRICAN BUSINESS THE CONGO ABC ABC WORLD AIRWAYS GUIDE ABD AIR ATLANTA ICELANDIC ICELAND ATLANTA ABE ABAN AIR IRAN (ISLAMIC REPUBLIC ABAN OF) ABF SCANWINGS OY, FINLAND FINLAND SKYWINGS ABG ABAKAN-AVIA RUSSIAN FEDERATION ABAKAN-AVIA ABH HOKURIKU-KOUKUU CO., LTD JAPAN ABI ALBA-AIR AVIACION, S.L. -
Tbl QTRLY 4Th Qtr 2012.Xlsx
QUARTERLY ENFORCEMENT REPORT 10/01/12 - 12/31/12 SANCTION CASE NUMBER NAME ENTITY TYPE DATE KNOWN ACTION SANCTION CASE TYPE CLOSED DATE AMOUNT ALASKA JUNEAU SCHED AIR ORD ASSESS CP 2010AL050004 19‐Nov‐09 15000 DOLLARS MAINTENANCE 01‐Oct‐12 AERONAUTICS INC CARRIER FA ACT ALPINE AVIATION AIR CARRIER ON ORD ASSESS CP 2011WP910347 20‐Jul‐11 26000 DOLLARS DRUG TESTING 02‐Oct‐12 INC DMAND FA ACT SCHED AIR ORD ASSESS CP 2011CE030044 GOJET AIRLINES LLC 07‐Jan‐11 20000 DOLLARS MAINTENANCE 03‐Oct‐12 CARRIER FA ACT DANS AIRCRAFT APPROVED RPR ORD ASSESS CP 2011AL030056 21‐Jun‐11 500 DOLLARS TRNG‐OTHER 03‐Oct‐12 REPAIR INC STN FA ACT AMERIJET SUPP AIR ORD ASSESS CP 2011SO290061 07‐Jun‐11 11000 DOLLARS MAINTENANCE 03‐Oct‐12 INTERNATIONAL INC CARRIER FA ACT SUPP AIR ORD ASSESS CP 2011SW910216 KALITTA AIR LLC 21‐Jun‐11 50000 DOLLARS DRUG TESTING 09‐Oct‐12 CARRIER FA ACT CLASSIC LIMITED COMM OPER & 2011WP010080 10‐Jun‐11 CERT REVOKE REVOCATION OTHER 11‐Oct‐12 AIR INC PART 125 AEROVIAS DE FOREIGN AIR ORD ASSESS CP 2012SO230020 INTEGRACION 21‐Mar‐12 6000 DOLLARS FLT OPNS 11‐Oct‐12 CAR FA ACT REGIONAL AIRES S A BLACKJACK 2012WP010070 EXT LOAD 11‐Jun‐12 CERT REVOKE REVOCATION OTHER 15‐Oct‐12 HELICOPTERS INC BLACKJACK 2012WP010071 AGRI OPR 11‐Jun‐12 CERT REVOKE REVOCATION OTHER 15‐Oct‐12 HELICOPTERS INC AIR CARRIER ON 2010WP910140 AMERIFLIGHT LLC 27‐Apr‐10 CP FA ACT 75000 DOLLARS DRUG TESTING 24‐Oct‐12 DMAND MADERA JET AIR CARRIER ON ORD ASSESS CP 2012WP910148 25‐Jan‐12 4000 DOLLARS DRUG TESTING 26‐Oct‐12 CENTER INC DMAND FA ACT AEROFLIGHT AIR CARRIER ON ORD -
Press Release
PRESS RELEASE Contact: Melissa (Missy) Roberts Vice President of Sales and Marketing 907-771-2510 or 907-230-2913 [email protected] Or Kristin Folmar Director Sales & Marketing 907-771-2599 or 907-301-8871 [email protected] FOR IMMEDIATE RELEASE: April 18, 2016 PENAIR STARTS NEW FLIGHTS FROM PORTLAND, OR TO REDDING, CA AND ARCATA/EUREKA, CA ANCHORAGE, ALASKA – PenAir, one of Alaska’s largest regional airlines, expands their flight schedule out of Portland, with two new destinations on April 21, 2016. PenAir will start twice daily service between both Redding, CA and Arcata/Eureka, CA and Portland, OR. The addition of these two destinations expands PenAir’s offerings from Portland to four communities. In addition to Redding and Arcata/Eureka, PenAir also serves Crescent City, CA and North Bend, OR from their Portland hub. According to Danny Seybert, PenAir’s CEO, “PenAir is thrilled to be expanding our service out of Portland, OR. We have been operating for 60 years throughout Alaska and for the last several years in the Northeast U.S. The expansion of our flights in Portland provides customers with our Alaskan brand of reliable customer service and the benefit of our connectivity to flights with our codeshare partner Alaska Airlines and the other airlines offering service to more than 55 destinations from Portland International Airport.” “PenAir began operating daily service out of Portland, OR, to Crescent City, CA, on September 15, 2015. Since then, we have met with community leaders from each of these three additional communities”, said Dave Hall, PenAir’s Chief Operating Officer.