DALLAS – After more than a year of talks, a merger between American Airlines and US Airways will likely be announced next week, sources tell News 8.
“The economics make so much sense. They’re so compelling that I think the creditors and the boards of both companies said ‘let’s get this done it will be good for everybody,” said Mark Drusch, an executive with Fareportal, who also held high-ranking positions with [...]
CLACKAMAS, Ore. – Somebody fired dozens of shots in the food court at Clackamas Town Center on Tuesday afternoon, according to witnesses.
KATU reporter Anna Canzano said her husband, Oregonian sports columnist John Canzano, was in pulling up to the mall when the shooting happened. He said people reported hearing around 60 shots from the food court.
PORTLAND – Three people were hit in a shooting at Clackamas Town Center Tuesday afternoon, [...]
Secretary of State Hillary Clinton called Egyptian Foreign Minister Mohamed Amr Monday and told him the United States wants to see President Mohamed Morsy share power in Egypt, following his decree last week placing his decisions above judicial review.
Reports from Egypt Monday said that Morsy was considering limiting his decree that the judiciary has no right to review his decisions to only “sovereign” matters — although the meaning of that is unclear — following widespread international criticism and [...]
Egypt announces Hamas-Israel ceasefire, Netanyahu office confirms
Egypt’s foreign minister announced Wednesday that a ceasefire would begin in Gaza at 19:00 GMT. Israeli Prime Minister Benjamin Netanyahu confirmed that a deal had been reached.
The truce announcement was made by Egyptian Foreign Minister Mohamed Amr during a joint press conference with US Secretary of State Hillary Clinton.
“These efforts and contacts have yielded an understanding about a truce and restoration of calm, and [...]
CAIRO — Egypt asked the United States on Thursday to immediately intervene to stop the Israeli military operation in the Gaza Strip, warning that the violence could spiral “out of control,” the Foreign Ministry said Thursday.
Egypt “will stand with all of its resources to end this aggression and to stop the recurring killing and bloodshed of Palestinians,” President Mohamed Morsi said on national television. “The Israelis must understand that we [...]
DALLAS (AP) — American Airlines says it will reduce flights in July partly because of a shortage of pilots due to more of them calling in sick.
The 1 percent reduction in July’s schedule follows a 1.5 percent cutback in June, which was also blamed partly on higher usage of sick leave by pilots.
A union spokesman said Wednesday that pilots could be taking care of elective procedures before American raises their [...]
It never used to be like this. The moment Egyptians finally lost their respect for President Hosni Mubarak, whose joyless grin dominated their lives for three decades, came when a state newspaper carried a photograph of Middle East leaders at the White House grotesquely photoshopped to show him standing not behind but in front of President Obama.
Now men like Amr Moussa, used to receiving sheikhs and monarchs with due pomp [...]
American Airlines parent AMR Corp. (AAMRQ) will explore strategic options that include a possible sale under an agreement with the unsecured creditors committee in its bankruptcy case, people familiar with the matter said.
The panel pressed for such an accord so AMR’s review of its options would include studying a merger with US Airways Group Inc. (LCC), which is considering whether to mount a takeover bid, said one of the people, [...]
(CNN) – Intense blasts echoed through the ravaged Syrian city of Homs on Monday after a weekend bloodbath ended in hundreds of deaths there, local activists said.
“It is horrible. Especially today, it is horrible,” said Abu Omar, a local activist who said the Syrian army was attacking without warning. “Usually they are using mortars. They are now using rockets in the sky. We can see them in the sky.”
At least 30 [...]
CAIRO (AP) — Ignoring a stern U.S. threat, Egypton Sunday referred 43 NGO workers, including 19 Americans, to trial before a criminal court for allegedly using illegal foreign funds to foment unrest.
The decision marked a sharp escalation of the dispute between Cairo and Washington overEgypt‘s crackdown on U.S.-funded groups promoting democracy and human rights. The two countries have been close allies for more than three decades, but the campaign against the organizations [...]
American Airlines parent AMR Corp. Wednesday said it will seek to cut 13,000 jobs and terminate pensions in pursuit of $2 billion in annual costs savings, tipping its hand for the first time in what could be a long and painful bankruptcy proceeding.
The company said it wants to reduce labor costs by $1.25 billion a year, or 20%. That includes cutting its work force of 88,000 by nearly 15%, imposing [...]
American Airlines’ parent company, AMR Corporation, filed for Chapter 11 bankruptcy protection on Tuesday, surprising exactly no one. A major corporate bankruptcy is normally a bit of a shock, but there’s nothing shocking about bankruptcy in the American passenger air business, where filings are way more common than crashes.
Frontier Airlines filed in 2008, Delta and Northwest both filed in 2005 (and later merged), and United and U.S. Airways filed in [...]
FORT WORTH, Texas (AP) — American Airlines’ parent companyis seeking Chapter 11 bankruptcy protection as it seeks to unload massive debt built up by years of accelerating jet fuel prices and labor struggles.
The nation’s third largest airline also said its CEO Gerard Arpey will step down. He’s being replaced by Thomas Horton, currently the company’s president.
Fort Worth, Texas-based AMR Corp., along with its regional affiliate AMR Eagle Holding Corp. said Tuesday that they filed voluntary petitions to [...]
NEW YORK (CNNMoney) — The Thanksgiving holiday is not only one of the busiest times to travel but it’s also the most expensive. And this year it will only get worse.
Average airfares over Thanksgiving week (from Nov. 20 to Nov. 27) are 6% higher this year, according to data compiled by Hotwire. In December, airfares are projected to be about 10% higher than last year.
As major airlines like American Airlines [...]
France and Belgium guarantee Dexia debts
Saudi Arabia May Tap Reserves for Spending Plans: Arab Credit
Goldman Cuts GDP Estimates; Sees German, French Recessions
Fitch revises India’s growth to 7.5%
Fisher Says Fed Has Ammunition If U.S. Turns ‘Horrific’ (“We can expand the money supply to the Nth degree”)
BIS Sees ‘Severe’ Problems If Sovereign Debt Isn’t Risk-Free
BofA, JPMorgan Face $13.5 Billion in FHA Claim Costs, FBR Says
Banks Seeking Most State Cash Since Lehman Rout: [...]
By Christopher Hinton
WASHINGTON (MarketWatch) — Shares of American Airlines parent AMR Corp. AMR [...]
American Airlines plans a record order of about 400 narrow-body jets split between Boeing Co. (BA) and Airbus SAS, giving the European planemaker a toehold at the U.S. carrier, four people familiar with the matter said.
Counting options and future purchase rights, the deal may reach 900 planes, said two of the people, who aren’t authorized to speak publicly. The board of American parent AMR Corp. (AMR) will review the proposal [...]
DALLAS (AP) — American Airlines lost $436 million in the first quarter as it battled rising jet fuel prices, and says it will eliminate some flights late this year.
The airline’s results were also hurt by winter storms in the U.S. and a slump in travel to Japan after the earthquake there in March.
American’s parent, AMR Corp., said Wednesday that not counting some one-time costs, its loss was smaller than analysts [...]
AFP – Arab League chief Amr Mussa said on Sunday the organisation will ask the UN Security Council to impose a no-fly zone over Gaza, which Israel has pounded with air strikes in response to rocket fire.
Mussa told an emergency meeting of Arab League ambassadors that “the Arab bloc in the United Nations has been directed to ask for the convention of the Security Council [...]
I went through the earnings calendar at YAHOO and randomly picked some of the more widely known names. I had heard some of the reports throughout the week and others I hadnâ€™tâ€¦.but I was curious. How has the market reacted to the BTE? After all, itâ€™s the reaction that counts. Below is my random sampling of some of the larger, [...]