SkyWest (NQ: SKYW) Receives Regional-Jet Order From Mitsubishi

Palm Beach, FL 7/11/12 (StreetBeat) -- Mitsubishi Aircraft Corp. won an agreement to sell 100 regional planes to U.S. commuter carrier SkyWest (Nasdaq:SKYW) Inc. in an endorsement of Japan’s first passenger jet.

Deliveries of the planes, which have as many as 90 seats, will start in 2017 under the accord announced today at the Farnborough air show outside London. SkyWest’s commitment, valued at $4.2 billion at list prices, pushed Tokyo-based Mitsubishi’s orders and commitments for the jet to 230.

The aircraft will be equipped with engines from United Technologies Corp.’s Pratt & Whitney unit, which are similar in design to power plants under development for Airbus SAS’s A320neo narrow-body jet.

SkyWest jumped 14 percent to $7.80 at 10:01 a.m. in New York, the biggest intraday advance since May 2, according to data compiled by Bloomberg. Raymond James & Associates Inc. raised its rating today on St. George, Utah-based SkyWest to outperform from market perform.

The airline operates regional flights for carriers that include United Continental Holdings Inc. (NYSE:UAL) and Delta Air Lines Inc. (NYSE:DAL).

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Delta Airlines (NYSE: DAL) buys oil refinery from Phillips 66 (NYSE: PSX)

Northern, WI 5/1/12 (StreetBeat) -- Delta Air Lines Inc. (NYSE: DAL) announced Monday that it will buy an oil refinery from Phillips 66 (NYSE: PSX), the downstream business spinoff of ConocoPhillips, the Atlanta Business Chronicle, an affiliated publication, reports.

The purchase will be made by Delta's subsidiary, Monroe Energy LLC, for $150 million in an attempt to save money on rising fuel costs. Following the purchase, Delta will spend an additional $100 million to convert the existing refinery infrastructure for optimized jet fuel production.

The Trainer refinery complex, located in Pennsylvania, produces more than 185,000 barrels a day. The acquisition also includes pipelines and transportation assets that reach Delta's operations throughout the Northeast.

Monroe will come to strategic sourcing and marketing agreements with BP (NYSE: BP) and Phillips 66, Delta said, according to the Business Chronicle, which has more information.

Delta is the third-busiest commercial carrier at the Albuquerque International Sunport. ConocoPhillips has oil and gas production operations in New Mexico.

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