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Key report on F-35 rivals now complete, cabinet to decide on open competition

OTTAWA - The ball is now firmly in the Harper government's court when it comes to deciding whether to stick with the oft-maligned F-35 fighter jet program. After almost 18 months of exhaustive research and analysis, a key report that will determine whether there will be an open competition to replace the air force's aging CF-18s has been completed, the public works minister said Friday. The analysis looks at fighter jets already on the market, how suited they would be for Canada's defence needs, their cost and potential benefits.

High jet fuel prices have protected existing airlines from startups, prevented fare wars

NEW YORK, N.Y. - Airline executives frequently complain about fuel costs. But the truth is higher prices actually have been good for business. In the past six years, airlines have overhauled the way they operate to adjust to this new reality. They've shown more discipline by offering fewer seats, which ensures airfares are high enough to cover costs. Unprofitable routes have been eliminated. And every expense has been scrutinized.

U.S. approves F-35 flights to UK for two air shows in July: officials

By Andrea Shalal WASHINGTON (Reuters) - The U.S. Defense Department has approved the first trans-Atlantic flight of Lockheed Martin Corp's F-35 fighter jet in July to take part in two international air shows near London, senior defense officials said Wednesday.

Air Incheon to start cargo flights to China, Japan, Russia

SEOUL, April 16 (Yonhap) -- Air Incheon, South Korea's only dedicated air cargo carrier, said Wednesday that it plans to provide regular flights to China, Japan and Russia in the coming weeks as part of its business expansion efforts. The airline company founded in 2012 currently offers irregular air cargo services from Incheon International Airport (IIA) and Russia's Sakhalin Island, using the two B737-400F cargo planes in its fleet.

Pentagon says automatic budget cuts would hit F-35, other weapons

By Andrea Shalal WASHINGTON (Reuters) - The Pentagon on Tuesday detailed $48.3 billion in cuts to major weapons programs like Lockheed Martin Corp's F-35 fighter jet that would kick in from fiscal 2016 to 2019 if Congress does not reverse automatic budget cuts that are to resume in 2016. It said the cuts would slash $40 billion from the Pentagon's planned spending on operations and maintenance over that time, while research and development of new cutting-edge technologies would fall by nearly $18 billion from $337 billion.

Upgrade policy changes last straw for some frequent flyers

By Mitch Lipka (Reuters) - For business flyers like Adam Kubryk, who is on the road about 200 days a year, one of the perks of flying often and using the same airline regularly is getting upgraded from coach to business class when a seat is available. But now when he flies on Delta Air Lines on some of his more frequent work-related routes, he has lost that key perk and it is making him mad enough to ditch the airline and take his frequent flyer miles elsewhere.

AirAsia agrees to move to troubled new Malaysia airport

Malaysian budget airline AirAsia said Tuesday it would move to a much-delayed new international terminal set to open next month despite recently criticising it as rife with safety issues and other problems. The facility near Kuala Lumpur International Airport (KLIA) is being touted by Malaysian authorities as the world's largest low-cost airline terminal.

Etihad Airways' Q1 income climbs 27% to $1.4 bn

Abu Dhabi's Etihad Airways reported Tuesday a 27-percent annual rise in revenues to $1.4 billion for the first quarter of 2014 on the back of surging passenger and cargo figures. Etihad, which is in advanced talks to buy a stake in Italy's struggling Alitalia, said income from equity partners and codesharing deals increased 23 percent to $223 million in the first three months of 2014, compared with the same period last year. The fast-growing Gulf airline declined to say whether it registered any profits or losses in the quarter.

Korean Air to recommence Incheon-Irkutsk flights in May

SEOUL, April 15 (Yonhap) -- Korean Air Lines Co., South Korea's top carrier, said Tuesday it will recommence flights between Incheon International Airport and Irkutsk in Russian Siberia starting next month. The first flight this year will be made on May 19 with two weekly services scheduled until Oct. 25. Flights will take off on Mondays and Fridays with the twin-engined B737-900ER jet that can seat 159 passengers.

Southwest Airlines says it's setting aside record $228 million for profit-sharing

DALLAS - Southwest Airlines says employees will get a record $228 million in profit-sharing this year, nearly double the payout of a year ago. The airline said Monday that the payout is based on results from 2013, when net income hit a record $754 million. Earnings and stock prices for airlines soared last year, and employees at some carriers are benefiting. Delta Air Lines Inc. said in February that it would pay $506 million in profit-sharing.
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