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Regional Aviation
News
DOT Asks Carriers For More Timely Financial Data
April 18, 2003
DOT this week issued an order mandating that mainline carriers, their regional affiliates, Frontier and JetBlue submit twice-weekly reports, beginning next Tuesday, plus monthly reports to provide the agency with timely data. The initiative is DOT’s and was not mandated by Congress, an agency spokesman said. The reporting requirements end on June 30, according to the order. DOT said it needs the information to “monitor industry developments and to use our authority as appropriate to address industry problems caused by such circumstances.” DOT said it wants “real-time information from the airlines that will enable us to keep abreast of developments, including the airlines’ operational, traffic and financial situations.”
The department is asking airlines to submit reports on Tuesdays and Thursdays, plus a monthly report, which is a “more timely submission of carriers’ Form 41 Financial Information.” The information, which will include data on advance bookings and traffic, will remain confidential, DOT said. DOT said because of the war in Iraq the airline industry’s financial troubles are being “exacerbated by a number of factors,” and it wants to monitor them more closely. -DM
Source: Aviation Daily, April 18, 2003
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