Italy faces the risk of a credit crunch when its banks have to repay the cheap three-year loans they took from the European Central Bank, the chairman of the country's third-biggest lender Monte dei Paschi said on Thursday.
NEW YORK-- An analyst on Thursday cut his earnings estimates for JetBlue Airways Corp. because the price of fuel hasn't dropped as much as he expected after Labor Day. Sterne Agee analyst Jeffrey Kauffman cut his profit forecast for the New York airline's third quarter to 16 cents per share from a previous expectation of 22 cents per share.
Oct 3- American Airlines and its pilots union resumed contract talks Wednesday, but other problems continued to beset the bankrupt carrier. "I will never ride on American Airlines ever again," said Tony Palm, who was stranded when a connecting flight on American from Chicago to New York's LaGuardia airport was canceled last month.
Oct 3- American Airlines and its pilots union resumed contract talks Wednesday, but other problems continued to beset the bankrupt airline. "I will never ride on American Airlines ever again," said Tony Palm, who was stranded when a connecting flight on American from Chicago to New York's LaGuardia airport was cancelled last month.
Stocks posted modest gains in volatile trading Wednesday, lifted by a batch of better-than-expected economic reports, but ongoing worries over a global slowdown kept investors on edge.
Benchmark oil lost more than 3 percent Wednesday on more evidence of slower growth in China, the world's second-largest oil consumer behind the U.S. Airline stocks tend to trade inversely to the price of oil because fuel is one of the airlines' largest expenses. Shares of US Airways Group Inc. led the sector's gains Wednesday.
Take a look at some of Wednesday's midday movers:
Oct 2- American Airlines pilots this week are expected to authorize their union to call a strike, but the union says it may decide to keep the vote secret for now.
Oct 2- American Airline pilots this week are expected to authorize their union to call a strike, but the union says it may decide to keep the vote secret for now.
*One of several Atlantic Basin plants facing sale, closure. CALGARY, Alberta, Oct 2- Imperial Oil Ltd. Imperial, the Canadian affiliate of Exxon Mobil Corp, has said it expects to announce a decision on the plant's fate in the first quarter of 2013..
The first sign of trouble showed up last Wednesday, when crews noticed loose seats on a plane that had flown from Dallas-Fort Worth International Airport to Vail, Colo. The seats were tightened again that day in Boston. The same plane had to make an emergency landing Monday when seats came loose shortly after takeoff on a New York- to- Miami flight.
ATLANTA-- A drop in last-minute travelers in September hurt a key revenue measurement for Delta Air Lines Inc., the company said on Tuesday, although its fuel bill came in lower than expected, too. Per-seat passenger revenue rose 0.5 percent in September. Delta had previously said it expected an increase of 1 percent to 3 percent.
Lynn Helms says North Dakota crude oil also could be in demand to make jet fuel for Delta Air Lines Inc.. He says they'll make it easier for North Dakota crude oil to flow to refineries in Texas and the Gulf Coast. The airline is exploring getting North Dakota crude, because it's cheaper than oil from Britain's North Sea.
Frontier Airlines caused a stir when it announced travelers who don't book directly with the airline will pay higher fees. But do the best deals always come from travel agencies? The New York Times investigates.
Yu-dee Chang, Principal and Chief Trader, ACE Investment Strategists says that with uncertainties weighing on the U.S. economy, the airline sector is not where he wants to be in.
*Moody's affirms b2 cfr of Delta Air Lines; assigns ba2 rating to new senior.
--Delta Air Lines Inc. is issuing $1.7 billion of debt, consisting of a $1 billion B-1 term loan, $250 million B-2 term loan, and $450 million bank revolving credit. Rating Action On Oct. 1, 2012, Standard& Poor's Ratings Services assigned its' B+' issue rating and' 2' recovery rating to Delta Air Lines Inc.' s.
Shares of Delta Air Lines Inc. and US Airways Group Inc. were the best performers in the group with gains of 3.4 percent and 2.5 percent. US Airways stock has more than doubled as investors bet on an eventual merger with American Airlines, which is currently under bankruptcy protection.
The airplane taking the Baltimore Orioles to St. Petersburg, Fla. on Sunday night had its flight diverted to Jacksonville because of smoke in the forward galley. The Orioles resumed their trip on the same aircraft, leaving Jacksonville International Airport at 10:15 p.m..