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  • REYKJAVIK, Iceland— Iceland's airport authority says the country briefly closed its airspace to flights because of a technical problem at its air traffic control center. Gudni Sigurdsson of airport operator and air navigation service Isavia says Wednesday that "we did not let more traffic into our area" while a problem with the flight data processing system...

  • DUBAI, United Arab Emirates— Port operator DP World says it has reached a deal to help expand a seaport in Taiwan. The Dubai- based company said Wednesday it signed a memorandum of understanding with the state-run Taiwan International Ports Corporation to develop a seventh cargo terminal at Kaohsiung Port, Taiwan's largest harbor. Government-backed DP World...

  • CHICAGO, July 27- Norfolk Southern Corp, the No. 4 U.S. railroad, on Wednesday reported a lower quarterly net profit due to a 7 percent drop in freight volumes, but the results just exceeded market expectations because of cost cutting and efficiency measures. The decline in freight at the Norfolk, Virginia- based company was led by a precipitous 25 percent drop in...

  • COLUMBUS, Ohio _ M/I Homes Inc. on Wednesday reported second-quarter net income of $15.9 million. M/I Homes shares have fallen 5.5 percent since the beginning of the year. Keywords: M/I Homes, Earnings Report.

  • Boeing also lowered its full-year earnings to the range of $6.10 and $6.30 per share, from $8.15 and $8.35. The report of a quarterly loss comes days after one of Boeing's key suppliers, Rockwell Collins, publicly called out the company for being behind on $30 million to $40 million in bills for various electronic and cockpit equipment. "Boeing is delinquent and...

  • HOUSTON _ Waste Management Inc. on Wednesday reported second-quarter profit of $287 million. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share. Six analysts surveyed by Zacks expected $3.39 billion.

  • ANKARA, Turkey— Turkish Airlines says it has terminated the contracts of 211 employees, joining a government purge of people suspected of links to a U.S.-based cleric whom authorities accuse of orchestrating Turkey's failed coup. The national carrier said Monday the contracts were canceled due to "nonfulfillment of performance standards" and in line with...

  • KUALA LUMPUR, Malaysia— Malaysia Airlines said Wednesday it has agreed to buy up to 50 Boeing Max planes in a deal worth $2.75 billion as part of its fleet renewal and said it hopes to relist on the stock exchange by 2019.. Bellew, Ryanair's former director of flight operations, took over July 1 from Christoph Mueller, a turnaround veteran who recently resigned...

  • *Airline CEO says aiming to tap capital markets by March 2019. KUALA LUMPUR, July 27- Malaysia Airlines said on Wednesday it had ordered 50 Boeing 737 MAX jets, with firm orders for 25 and rights to purchase 25 more. This is the first major decision by the ailing carrier since Bellew took over from former chief executive Christoph Mueller on July 1.

  • KUALA LUMPUR, July 27- Malaysia Airlines said on Wednesday it had ordered 50 Boeing 737 MAX jets, with firm orders for 25 and rights to purchase 25 more. Malaysia Airlines has been struggling since the disappearance of flight MH370 and shooting down of flight MH17 over eastern Ukraine, both in 2014.. Since then, the airline has cancelled all non-stop flights to...

  • July 26- WestJet Airlines Ltd's quarterly profit slumped 40.5 percent and the carrier said Tuesday that costs would rise this year due to the timing of maintenance expenses on its widebody aircraft and extra charges incurred on a new London route. Macquarie Capital Markets analyst Konark Gupta said the cost increase was not "overly concerning" as it related to "...

  • NEW YORK— Shares of JetBlue Airways Corp. rose Tuesday after the airline reported second-quarter earnings above Wall Street expectations. JetBlue also said it was ordering more planes to expand its Mint premium service and could add flights to Europe by the end of the decade. If JetBlue goes ahead with flights to Europe, it would compete against major U.S. and...

  • LONDON— Two Canadian airline pilots charged with being drunk as they prepared to fly a passenger jet on a trans-Atlantic route have been bailed on condition they surrender their passports. Jean-Francois Perreault, who is 39, and 37- year-old Imran Zafar Syed were arrested at Glasgow Airport on July 18, shortly before they were due to fly an Air Transat jet to...

  • However, the airline warned of a rise in costs this year due to "irregular operations" on the London route and the timing of maintenance expenses for aircraft on the route. Macquarie Capital Markets analyst Konark Gupta said the cost increase was not "overly concerning" as it related to "teething issues" on WestJet's new London flights. Firming demand and revenue...

  • July 26- JetBlue Airways Corp's quarterly profit beat Wall Street estimates as the U.S. budget airline continued to benefit from lower fuel costs, and the company said it expects capacity to increase in the current quarter. "provides ability to start flights to Europe from other East Coast- focus cities, should we choose to do so," Chief Executive Robin Hayes said on...

  • WASHINGTON— Americans bought new homes in June at the fastest pace in more than eight years, a sign that a solid job market and low mortgage rates are bolstering the U.S. housing market. The Commerce Department said Tuesday that new-home sales rose 3.5 percent last month to a seasonally adjusted rate of 592,000, the best level since February 2008.

  • RIO DE JANEIRO, July 26- Brazilian interim President Michel Temer vetoed a provision of a bill allowing foreign investors to own up to 100 percent of Brazilian-flag airlines, according to a note published in Brazil's official government newspaper on Tuesday. The veto only affects one part of a package of aviation industry regulations aimed at boosting the...

  • July 26- Canada's WestJet Airlines Ltd reported higher-than-expected quarterly revenue and profit as its passenger traffic rose and fuel costs fell. The Calgary- based carrier has shifted its focus to eastern Canada and suspended nearly a dozen daily flights from Alberta, which has been hit by a slump in oil prices. WestJet's net earnings slumped 40.5 percent...

  • HOUSTON, July 25- A Chinese container ship hit a wall of the new lane of the Panama Canal, a Canal Authority official and a local ship agent said on Monday, the third such incident since the expanded waterway opened one month ago amid design concerns. The Panama Canal Authority said its operations team was investigating the latest incident. The Panama Canal...

  • SANTIAGO, Chile— Latin America's largest airline has agreed to some $22 million in civil and criminal fines in connection with a scheme to pay bribes to end a labor strike in Argentina a decade ago, U.S. authorities said Monday. Chile- based carrier LATAM will pay $12.75 million to the U.S. Justice Department and $9.4 million including interest to the U.S....