Airlines’ New York Schedules Boosted as LaGuardia Reopens (Bloomberg News)

November 1, 2012 – New York’s LaGuardia Airport started receiving flights today, completing the reopening of the region’s aviation hubs and boosting U.S. airlines in their effort to rebuild schedules after superstorm Sandy. Arrivals resumed shortly after 7 a.m. local time, and both LaGuardia runways are open after floods receded, said Pasquale DiFulco of the Port Authority of New York & New Jersey (Aa3 / 73358WJA3). Delta Air Lines Inc. (DAL) began landing planes this morning, and AMR Corp. American Airlines is running a full schedule. Resuming flights at LaGuardia restores an important link to the U.S. air-transport network, which lost an integral component Oct. 29 when Sandy forced all three major New York airports to close. The other two, John F. Kennedy and Newark Liberty, are international gateways and they reopened yesterday. “Just like it’s been a historic storm, it’s been a historic disruption,” Michael Derchin, an analyst with CRT Capital Group LLC, said in a telephone interview. “The pre- planning was outstanding. They’ve had some bad experiences previously, learning lessons from past problems. By early next week we should be pretty much fully recovered.” Sandy-related losses may be $200 million to $250 million, Helane Becker, a Dahlman Rose & Co. analyst in New York, said in a Bloomberg Radio interview. That prospect didn’t weigh on the carriers’ shares, as the Bloomberg U.S. Airlines Index of 10 carriers rose 1.6 percent for the biggest gain since Oct. 3.

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One thought on “Airlines’ New York Schedules Boosted as LaGuardia Reopens (Bloomberg News)

  1. Port Authority of New York & New Jersey was just downgraded a notch last month by Moody’s due to expected growth in capital needs (which Sandy has undoubtedly increased), fiscal and political stress at the respective state levels, and residual risks associated with the completion of the WTC project.

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