As the holidays creep closer airlines get ready for one of the busiest times of the year. Jim Corridore, Airline and Logistics Analyst at CFRA, joins The Long and The Short to discuss which airlines are winning this year.
Corridore has a very positive outlook on the airline industry going into 2018, because travel demand is strong. He says this industry has been raking in money over the past three years--after many years of debt--and is investing in its products. When it comes to American Airlines, Corridore credits its recent success to CEO Doug Parker. He expects the company to be able to outgrow its competitors in revenue over the next few years.
In the news this week, many airlines have banned smart luggage. Passengers have to remove batteries if they are carrying on computers, etc. Until lithium batteries are proven safer, he believes all airlines should ban anything operating with one.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie ahead of the board considering the largest railroad merger ever proposed.
Ford is recalling more than 355,000 of its pickup trucks across the U.S. because of an instrument panel display failure that’s resulted in critical information, like warning lights and vehicle speed, not showing up on the dashboard.
