Some major U.S. airlines including Delta and Southwest are rushing to finance losing bets on oil and revamp fuel hedges as tumbling crude prices leave them with billions of dollars in losses, according to people familiar with the hedging schemes.
Tags: American Airlines
China to Merge it's Three Largest Airlines as part of the state-owned enterprises reformation plans
East Asia's communist country, China is deeming to have merger operation with the nation's largest three major carriers. The said merger talks spark after China revealed its state-owned enterprises reformation plans. Rumors also emerged that the two of the largest airline in China is on merger to create a large fleet on the records.
American Airlines halted U.S. flights after a technical problem
American Airlines halted flights due to technical issues on Thursday, 12 noon. Chicago, Miami and Dallas airports have been affected. The operation was resumed around 2 pm. The Federal Aviation Authority tweeted that American Airlines flights to and from Chicago O'Hare, Dallas-Fort Worth and Miami were halted temporarily, "@AmericanAir requested a ground stop for all of their traffic in and out of DFW/ORD/MIA due to their computer issue," The Independent reported.
Citigroup's past losses may have helped it win Costco business
Citigroup Inc had at least one advantage in its successful bid for the exclusive right to issue credit cards for Costco Wholesale Corp, rivals and tax specialists say: it lost so much money during the financial crisis that it has billions of dollars of tax credits.
Venezuela's currency woes an increasing threat to U.S. corporate profits
Venezuela's deepening economic troubles, and in particular the weakness of the bolivar and restrictive currency controls, have hurt U.S. corporate profits for the fourth quarter of 2014 and are set to inflict further pain this year.
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American Airlines Group (AAL.O), United Airlines (UAL.N) and other carriers reported strong third-quarter profits on Thursday, helped by falling fuel costs, and mostly shrugged off concerns that Ebola could affect their outlook.
American Airlines has won regulatory approval to swap flight attendants' paper manuals for lighter Samsung tablets in a change that will save nearly $1 million a year, the company said on Wednesday.
Sony Corp's (6758.T) PlayStation Network was back online on Monday following a cyber attack that took it down over the weekend, which coincided with a bomb scare on a commercial flight carrying a top Sony executive in the United States.
According to a report by the South China Morning Post, the approved merger of American Airlines and US Airways to form the largest airline by revenues in the world is not good news for passengers.
Bankruptcy judge Sean Lane dismissed a private effort to block the merger between US Airways and AMR Corp and gave the clearance to allow the transaction to proceed.
A settlement was reached between representatives of both American Airlines and US Airways Group and the US Department of Justice would pave the way to the approval of the merger.
The Association of Professional Flight Attendants, representing 16,000 flight attendants at American Airlines, cheered the announcement today that the Justice Department has accepted a settlement in its antitrust suit against American Airlines and US Airways.
Southwest Airlines and JetBlue Airways articulated its interest in acquiring AMR-US Airway flight slots in Washington.
US Attorney General Eric Holder said his comments that confirmed talks of a settlement between American Airlines and the US Airways regarding the airline's planned merger.
