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American Airlines Cancellations Slow After Difficult Weekend

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American Airlines’ cancellation rate slowed on Monday after
a weekend of nearly 2,000 cancelled flights, and the carrier said it is beefing
up its staffing levels in the coming weeks before the busy holiday season.

American’s cascading cancellations stemmed from two days of
strong winds, starting last Thursday, at its Dallas-Fort Worth hub, which cut
the capacity for arrivals by more than half, COO David Seymour said in a memo
over the weekend. Similar to a cascading incident seen
by Southwest Airlines
earlier in October, the initial cancellations led
crew members to be out of their assigned sequences, making staffing tight, he
said.

Sunday was the biggest day for cancellations, with a total
of 1,060 flights, more than 20 percent of American’s total flights for the day,
cancelled, American reported. On Monday, the carrier reported 391 cancelled
flights, just under 7 percent of its total scheduled flights.

As of Monday, however, American also will begin seeing
larger staffing levels.

“Specifically, for flight attendants, we have nearly
1,800 returning from leave starting Nov. 1—and the remainder coming back by
Dec. 1—and we will have 600-plus new hire flight attendants on property by end
of December,” according to Seymour. “Additionally, hiring for our
airports is well underway, and we anticipate 4,000 new team members joining us
across the system in the fourth quarter.”

Seymour added that American has begun hiring to its
reservations team for the upcoming holiday season, and the carrier also is
hiring more pilots and staff for its tech ops team.



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Bloomberg names Green ME of finance for Americas

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Rick Green

Rick Green has been named managing editor for finance in the Americas at Bloomberg News, effective July 11.

He is currently senior editor for markets at Bloomberg.

Green was previously a team leader for distressed company news. He was also corporate finance editor and a senior editor on the U.S. finance team.

Before Bloomberg, Green was assistant managing editor for business and technology at Newsday. He also worked at BusinessWeek magazine as a senior editor and at SmartMoney magazine.

 





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Liberty Steel secures time with Greensill as debt rstructuring continues

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Liberty Steel Group has entered a standstill agreement with Greensill Bank.

It pauses all enforcement actions between the South Yorkshire headquartered business and the subsidiary of the collapsed financial institution as it focuses on recovery.

Greensill Bank, part of Greensill Capital, is Liberty’s largest creditor on the business’s debt facilities, provided in 2019.

Read more:£26m British Steel Special Profiles upgrade given the go-ahead

The agreement lasts until October 31, with potential to extend until the end of the year.

Liberty said it will enable the company to develop a longer term sustainable financing structure, with detailed due diligence and information exchange continuing between the two parties.

A Liberty spokesperson said: “Today’s standstill agreement with Greensill Bank demonstrates we are getting close to a consensual debt restructuring that is in the best interests of all our stakeholders.

“We are working intensively towards a settlement with our major creditors in a timeframe which would obviate the need for a legal battle. Our core businesses continue to perform well and are operationally strong despite some economic headwinds.”

HMRC had filed then withdrew a winding up petition for Liberty earlier this year as progress with creditors was made.



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At Close of Business: Jordan Murray talks an Australian republic

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Journalist Jordan Murray discusses revived debate over the possibility of an Australian republic.



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