"Let’s face it, airplane cabins are by nature noisy, crowded and confined,” a sponsor said.
The Treasury Department sold off its remaining stake in General Motors on Monday, losing $10.5 billion on its investment that kept the automaker afloat through the financial crisis.
Treasury Secretary Jack Lew told reporters that the government recouped $39 billion of the $49.5 billion it sank into the Detroit-based company in 2008 and 2009, essentially saving about 1 million jobs.
Obama said his "bet" on auto industry has "paid off" after Treasury sold its final GM shares.
The federal government’s bailout of General Motors in 2008 and 2009 saved 1.2 million jobs, according to a new study released on Monday by the Center for Automotive Research (CAR).
Without the federal government’s decision to pump $50 billion into GM at the height of the 2008 and 2009 recession, millions of its employees would have been thrown out of work and the country would have missed out on $39.4 billion in tax collections, the authors of the study argued.
The new company will fly under the American Airlines banner and service 330 destinations.
The merger of US Airways and American Airlines, which was finalized on Monday, will be good for airline passengers, the CEO of the new company said on Monday.
Appearing on CNBC’s “Squawk Box,” US Air CEO Doug Parker praised the consolidation of the U.S. aviation into three major “legacy” airlines, counting Delta, United and his airline and American as one company.
A passenger on a United Airlines flight was locked in an airplane at Houston’s George Bush Intercontinental Airport, USA Today reports.
Louisiana resident Tom Wagner was in Houston to connect to a flight to California, but he fell asleep on the first plane and was left on board after its passengers and crew disembarked.
Amtrak CEO Joseph Boardman has been named “railroader of the year” by Railway Age magazine.
The magazine praised Boardman for his longevity at Amtrak and for his efforts to reform the railway, which has frequently been a target for congressional Republicans and rail critics.
The process of incorporating the technology into the U.S. aviation system will take years.
After a nearly year-long quest, US Airways and American Airlines will finalize their merger this week.
The companies, which first announced their plans to combine in February, are expected to make it official on Dec. 9.