July 18, 2013 |
Cost-cutting measures taken during bankruptcy and lower fuel prices helped the parent company of American Airlines post $220 million in profits for the three-month period that ended in June. The positive financial report released Thursday marks the best second-quarter performance in the history of AMR Corp. and sets the stage to complete a merger with US Airways this fall. "The new American is taking off," said Tom Horton, chairman and chief executive of AMR. He will take over as chairman of the new merged company, handing off the post of chief executive to U.S. Airways CEO Doug Parker.
CALIFORNIA | LOCAL
June 11, 2013 |
Crews with the Los Angeles Fire Department worked Tuesday to contain a fuel spill on Pacific Coast Highway in Harbor City. The spill was detected shortly before 10 a.m. at 2200 E. Pacific Coast Highway, officials said. No further details were immediately available from the fire department but KABC News said the spill involved 500 gallons of jet fuel from a 150,000-barrel tank and would take five hours to clean up. ALSO: Hathaway wildfire near Banning burns nearly 2,000 acres Worker killed in accident at new 49ers stadium, officials say 2 wounded in alley shooting near Santa Monica College, police say email@example.com Twitter: @jeanmerl
CALIFORNIA | LOCAL
June 11, 2013 |
This post has been corrected. See note at the bottom for details. Cleanup of a fuel spill along a gritty stretch of Pacific Coast Highway in Wilmington continued Tuesday, Los Angeles Fire Department officials said. Firefighters were called about 9:45 a.m. to the site of a fuel spill at a business at 2200 E. Pacific Coast Highway in Wilmington. Few details were available shortly after the spill but KABC News reported the incident involved 500 gallons of jet fuel leaking from a 150,000-barrel tank.
March 27, 2013 |
China's three major state-owned airlines reported steep drops in annual profit last year, citing the weak global economy, higher jet fuel prices and smaller foreign currency gains. China Southern, the country's largest carrier, said Wednesday that last year's profit was about 50% lower than the previous year, the Associated Press reported. Rivals Air China and China Eastern reported earnings were about one-third lower. “Demand in the aviation industry in 2012 continued to be weak as a result of the slow recovery of the U.S. economy, the ongoing European debt crisis and the global recession,” Beijing-based Air China said.
February 21, 2013 |
The nation's 10 largest airlines earned a combined $152 million in profits in 2012, according to a report released Thursday by an airline trade group. If that sounds rather meager, that's because it is. It represents 21 cents of profit for every passenger who boarded a plane in the year, or a margin of 0.1%, according to an analysis by the industry trade group Airlines for America. The profit margin is a 64% drop compared with 2011, when the same 10 carriers reported net income of $418 million or a 0.3% margin, according to the trade group.
November 21, 2012 |
Dense fog around Chicago forced airline delays and cancellations Wednesday as inclement weather put a damper on one of the nation's busiest travel days at the start of the Thanksgiving holiday weekend. More than 43.6 million Americans are expected to travel at least 50 miles between Wednesday and Sunday, according to the AAA. That is a barely discernible 0.7% increase from last year. More people are driving and fewer are flying, the travel organization said, and the average distance traveled is about 120 miles less than a year ago. All of that data implies that the economy -- recovering, but at a slow pace -- continues to suppress holiday traffic of all kinds.