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After merger, American Airlines and US Airways post first-quarter profit of $480 million

DALLAS - American Airlines is making money again and beating expectations after its merger with US Airways. The company posted earnings of $480 million Thursday, a record for the first quarter, which is usually the weakest three-month period for airlines during the year. As separate airlines, American and US Airways lost $297 million a year earlier.

Delphi Automotive CEO declines to address GM recall costs

DETROIT (Reuters) - Parts supplier Delphi Automotive Plc Chief Executive Officer Rodney O'Neal declined on Thursday to discuss costs related to the General Motors Co ignition switch recall. Delphi produced the ignition switches involved in the recall of 2.6 million GM vehicles that have been linked to at least 13 deaths. GM said earlier Thursday that Delphi was planning to add another assembly line to make replacement switches, likely in June.

Delphi Automotive CEO declines to address GM recall costs

DETROIT (Reuters) - Parts supplier Delphi Automotive Plc Chief Executive Officer Rodney O'Neal declined on Thursday to discuss costs related to the General Motors Co ignition switch recall. Delphi produced the ignition switches involved in the recall of 2.6 million GM vehicles that have been linked to at least 13 deaths. GM said earlier Thursday that Delphi was planning to add another assembly line to make replacement switches, likely in June.

American Airlines profitable in 1st quarter since deal

American Airlines Thursday reported a profit in its first full quarter since acquiring US Airways, benefitting from lower fuel costs and a gain from the sale of some airport slots. American, the biggest US airline by revenue, said first-quarter net income was $480 million, compared with a loss of $297 million from the combined year-ago results of American and US Airways. American and US Airways closed their merger in December 2013.

Malaysia Airlines plane turns back after landing gear failure

A Malaysia Airlines plane's wheels refused to stow after take off Thursday, forcing a second flight by the flag-carrier to turn back in four days as it continues to reel from the loss of flight MH370. The ATR 72 prop-plane, belonging to MAS subsidiary Firefly, departed Penang International Airport at 6.55am and turned back 15 minutes after because the aircraft's landing gear couldn't retract. "As safety is of utmost priority to Firefly Airlines, the aircraft was required to turn back to Penang," Firefly said in a statement.

United Airlines can't bring in enough revenue to cover its costs; still struggling with merger

United Airlines is the one U.S. carrier that can't seem to get its act together. While all the other major airlines made money in the first quarter, United lost $609 million during the first three months of this year. United attributed $200 million of its loss to the "historic severe" winter weather that impacted much of the U.S. this past winter. But by comparison, Delta Air Lines made $213 million in the same quarter while dealing with the same ice and snow storms.

Mexico's Slim gains Europe foothold with Austrian Telekom deal

Mexican telecoms billionaire Carlos Slim looked on Thursday to have at last secured a firm European foothold with a deal giving him effective control of Telekom Austria, six months after failing to acquire the Dutch KPN. Under the terms of a shareholder accord struck after a marathon meeting late on Wednesday, Slim's America Movil (AMX) will combine its 26.8-percent stake in Telekom Austria with the 28.4 percent owned by the Austrian state.

Shares in French giant Alstom leap on rumoured GE bid

Engineering giant Alstom, a top name in French industry, was caught in a swirl of speculation on Thursday that US group General Electric is about to make a $13.0 billion bid, and its shares leapt. Alstom, which builds high-speed trains and power stations, said it "is not informed of any potential public tender" to buy its shares. If a takeover does materialise, it would amount to the biggest ever by General Electric, which makes rail locomotives and aero engines.

Shares in French giant Alstom leap on rumoured GE bid

Shares in French engineering group Alstom, which builds power-generating equipment and high-speed trains, shot up nearly 14.0 percent in early trading on Thursday on rumours that US General Electric may make a takeover bid. Alstom, issued a statement to say that it had no knowledge of any such offer from General Electric (GE). Alstom shares, which surged initially by about 17.0 percent, shortly after were showing a gain of 13.87 percent to 27.72 euros on the Paris stock which was showing an overall advance of 0.54 percent.

Volkswagen closer to realizing Scania takeover after large shareholder accepts bid

STOCKHOLM - Volkswagen has come closer to realizing its ambition to takeover Scania after the fourth largest shareholder in the Swedish truck maker announced it will accept the 6.7 billion-euro ($9.2 billion) bid. Fund manager Swedbank Robur on Thursday said it thinks the offer of 200 kronor ($30.62) per Scania share is reasonable. Europe's biggest auto manufacturer said late February it wants to purchase the 37.4 per cent of Scania it doesn't already own. Swedish pension fund AP4 and the Skandia Liv financial group have previously said they won't accept the bid.
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