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Business Industrials

  • Shares of Spirit Airlines nosedived 17 percent in midday trading to $40.49 as it reported the full impact of 850 pilot-related flight cancellations early this summer, which translated to lost revenue of an estimated $25 million. "Unfortunately, given the level of operational disruptions and the associated financial impact, the second quarter 2017...

  • July 27- A lackluster forecast for the third quarter sent shares of Southwest Airlines Co tumbling as much as 9.5 percent in early trading on Thursday, even as the company reported solid results for the second quarter through June 30. Shares of the Dallas- based airline slumped at the open to a 9- month low as investors reacted to its "uninspiring" outlook for the...

  • NEW DELHI, July 27- India's IndiGo and GoAir airlines are facing delays in receiving planes from Airbus due to ongoing problems with engines developed by Pratt& Whitney, the minister of state for civil aviation said on Thursday. State-owned carrier Air India has also experienced some delay in getting deliveries of some A320neo aircraft fitted with engines...

  • The No. 4 U.S. airline by passenger traffic said its net income in the period fell 9 percent to $746 million, or $1.23 per share, following the implementation late last year of amended collective bargaining agreements with its flight crew. Excluding special items, the company earned $1.24 per share, beating analysts' consensus forecast of $1.20 per share,...

  • July 27- French electrical component and energy management group Schneider Electric said on Thursday it was buying automatic transfer switch maker Asco Power Technologies for $1.25 billion and raising its full-year revenue target. The all-cash acquisition of Asco, part of U.S. company Emerson Electric, aims to boost Schneider's presence in North America...

  • *Net loss $1.87 bln vs $103 mln net profit in 2015. ABU DHABI, July 27- Etihad Airways, one of the Middle East's three largest carriers, plunged to a $1.9 billion loss last year, hit by impairments on aircraft and investments in troubled European airlines. Middle Eastern airlines have seen growth slow over the past two years as regional travel budgets tightened due to...

  • The No. 4 U.S. airline by passenger traffic said its net income fell to $746 million, or $1.23 per share, in the second quarter ended June 30, from $820 million, or $1.28 per share, a year earlier. Excluding items, the company earned $1.24 per share. Operating revenue rose 6.7 percent to $5.74 billion.

  • DUBAI, United Arab Emirates— The United Arab Emirates' flagship carrier Etihad said on Thursday it lost $1.87 billion in 2016, blaming "one-off impairment charges and fuel hedging losses" for the massive loss. Etihad said the loss included a $1.06 billion charge on aircraft reflecting lower market values and a $808 million charge on certain assets and...

  • July 27- French electrical component and energy management group Schneider Electric said on Thursday it was buying automatic transfer switch maker Asco Power Technologies for $1.25 billion and raising its full year revenue and margin guidance. The all-cash deal aims to boost Schneider Electric's position in North America, and enhance its offer for...

  • *Q2 GDP +0.6 pct s/adj q/q. SEOUL, July 27- South Korea's economic growth almost halved in the second quarter of 2017 from the previous three months, the central bank estimated on Thursday, as construction sector activity that had supported growth earlier slowed. Gross domestic product grew a seasonally adjusted 0.6 percent in the second quarter, the Bank of Korea...

  • LOS ANGELES, July 26- The owners of a giant rabbit named Simon who died on a United Airlines flight while bound for the Iowa State Fair sued the carrier on Monday, claiming its employees were responsible for the hare's death. The lawsuit was filed in Polk County District Court in Des Moines on behalf of a group of investors which purchased Simon, the offspring of the "...

  • DES MOINES, Iowa— The Latest on a lawsuit filed against United Airlines over death of a giant rabbit:. United Airlines says it is saddened by the death of a giant rabbit after a flight from London to Chicago and is reviewing a lawsuit filed by the animal's owners. A group of Iowa businessmen has filed a lawsuit against United Airlines over the death of a giant rabbit...

  • DES MOINES, Iowa— A group of Iowa businessmen filed a lawsuit Wednesday against United Airlines over the death of Simon, a giant rabbit whose lifeless body was discovered in a kennel after a flight from London to Chicago. Attorney Guy Cook represents the three Des Moines- area businessmen who bought Simon with the intention of showing him at the Iowa State Fair and...

  • DALLAS— Several hundred workers who maintain American Airlines planes picketed Wednesday at the carrier's home airport, calling for higher pay and an end to shifting maintenance work overseas. Helped by a bankruptcy restructuring, less competition, lower fuel prices and new leadership, American Airlines Group Inc. earned $2.7 billion last year.

  • MEXICO CITY— The Mexican national truckers' association says highway robberies of freight trucks are "out of control" and calls the nation's roads "a no-man's land." The National Chamber of Freight Transport says its members have been "seriously affected by an unstoppable wave of robbery taking over the country's roads. The problem is especially prevalent...

  • BOGOTA, Colombia— Colombia's flagship airline is suspending all flights to neighboring Venezuela, citing security concerns. The airline operates two direct flights to Venezuela: One from Bogota, Colombia, and the other from Lima, Peru. Avianca Executive President Hernan Rincon said he laments the decision "but our obligation is to guarantee the safety of the...

  • BOGOTA, July 26- Avianca said on Wednesday it will suspend flights to and from Venezuela beginning on Aug. 16, amid operational and security difficulties, the latest commercial carrier to pull out of the crisis-hit socialist country. The Colombian airline will cancel its Bogota- Caracas- Bogota and Lima- Caracas- Lima routes, a total of three daily flights,...

  • Rivals Lockheed Martin Corp and Northrop Grumman Corp handily beat Wall Street's second-quarter estimates. Chief Executive Officer Phebe Novakovic on Wednesday told analysts on a post-earnings conference call that revenue for its aerospace division, which makes airplanes including Gulfstream, would be $8.1 billion for the year, versus a previous...

  • July 26- Alaska Air Group Inc on Wednesday posted a 13.8 percent rise in quarterly profit, helped in part by the December 2016 acquisition of former rival Virgin America. Alaska, now the fifth-largest U.S. carrier by passenger traffic, reported second-quarter net income of $296 million, or $2.38 per share, up from $260 million, or $2.10 per share, in the period a year...

  • *New home sales increase 0.8 percent in June. WASHINGTON, July 26- New U.S. single-family home sales increased in June as purchases in the West surged to a near 10- year high, but downward revisions to the sales pace for the prior three months pointed to a housing market that was treading water. The Commerce Department said on Wednesday new home sales rose 0.8 percent...