Top Stories
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New American Airlines won’t repeat Pan Am and TWA mistakes, official says
TransportPan Am and TWA, two iconic airlines that were grounded for good in 1991 and 2001, respectively, got “out-competed” domestically by rivals such as United, American, Delta, Continental and Northwest, and that contributed to the duo’s demise. To be sure, the reasons Pan Am and TWA went bust are complex, but US Airways president Scott [...]
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Kayak first quarter profit plummets in last hurrah as independent company
DigitalKayak’s first quarter profit fell more than 48%, compared with a year earlier, as the travel metasearch company increased its stocked-based compensation, and spending on brand and online marketing. Kayak filed its results with the Securities and Exchange Commission yesterday, and it could be the final time such detail is publicized as Priceline’s $1.8 billion [...]
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Car sharing startup RelayRides acquires Wheelz for its unlocking technology
TransportWith a still small, but growing, market around people that want to rent out their personal cars to their neighbors, some consolidation seemed inevitable. On Tuesday startup RelayRides, which was one of the first companies to jump into the neighborhood car sharing market, announced that it has acquired Wheelz, a startup that had originally focused [...]
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Ron Burkle threatened Morgans Hotel’s board over proxy fight, lawyers contend
RoomsMorgans Hotel Group Co. board members faced threats by billionaire Ron Burkle to harm the hotel chain if they didn’t back his acquisition of several of Morgans’s businesses, a lawyer for one of the company’s directors said. Burkle, whose Yucaipa Cos. is swapping $230 million in notes and preferred stock for ownership of Morgans’s Delano [...]
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Priceline-Kayak merger should close on May 21, thanks to regulators’ approval
DigitalPriceline and Kayak said on Thursday they expect their $1.8 billion merger to close on May 21. The two companies said they have received all the needed approvals from regulatory agencies. Norwalk, Conn.-based Priceline.com Inc. announced last November that it would buy competitor Kayak Software Corp. for $1.8 billion in cash and stock. Kayak, which [...]
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Global Eagle buys another in-flight company, becomes largest airline content provider
TransportGlobal Eagle Entertainment will buy in-flight entertainment company Post Modern Group (PMG) in a deal worth as much as $23.9 million….says it will become the biggest provider of TV shows and movies to airlines in the world. The pact involves a combination of cash and stock. Global Eagle was founded in 2011 by former MGM [...]
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Yahoo acquires MileWise flight-search service and shuts it down
TransportMileWise announced today that its “team will be joining Yahoo,” and that the MileWise service, which showed flight options based on your reward mileage, will be shutting down. It’s been tough going for mileage-tracking services such as MileWise and TripIt, to name a few, as four major U.S. airlines — Southwest, United, American and Delta [...]
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Priceline purchase of Kayak approved by UK, deal to close May 21
DigitalThe nail-biting is over. The last major hurdle to Priceline’s $1.8 billion of Kayak was removed when the UK’s Office of Fair Trading today announced that it cleared the merger after conducting a regulatory review. The transaction is slated to close May 21. The merger had initially been slated to close during the first quarter [...]
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Facebook in talks to buy Israeli navigation startup Waze for up to $1 billion
TransportFacebook Inc is in advanced talks to acquire Israeli mobile satellite navigation start-up Waze for $800 million to $1 billion, business daily Calcalist reported on Thursday. Due diligence is underway after a term sheet was signed, Calcalist said, adding that talks began six months ago. Waze uses satellite signals from members’ smartphones to generate maps and traffic [...]
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Qatar looking to buy stake in British Airways parent
TransportQatar has approached International Airlines Group, the owner of British Airways and Iberia, with an informal offer to become the company’s largest shareholder by buying the 12 percent stake held by Spain’s nationalized lender Bankia, the Financial Times reported. Qatar had approached IAG to ask whether the company would welcome it as a shareholder, the [...]
