Business briefs: Jury rules in favor of former TWA pilots

Posted Thursday, Jul. 14, 2011 0 comments  Print Reprints
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A federal jury in New Jersey said that the Air Line Pilots Association did not fairly represent former TWA pilots' interests when the carrier merged with American Airlines. The lawsuit, filed by ex-TWA pilots in 2002, said the union pressured TWA members during the merger discussions and acted in bad faith as it and the Allied Pilots Association, which represents American's pilots, negotiated a seniority list. American bought TWA's assets out of bankruptcy in 2001 for $4.2 billion. The jury also found that the Air Line Pilots union's "violation of its duty of fair representation" caused injury to some TWA pilots. The jury has not decided how much damages should be awarded to the former TWA employees. For more airline industry news, read Sky Talk at star-telegram.com/blogs.

-- Andrea Ahles

Boeing works to keep American as a customer

Boeing Co. commercial airplanes chief Jim Albaugh said he had a "good meeting" with American Airlines this week as the manufacturer tries to stop one of its biggest customers from placing an order with rival Airbus. "They're a great customer and obviously we want to keep them," Albaugh said of his meeting with executives from Fort Worth-based American. American is considering an order of as many as 280 narrow-body jets, sources have said.

-- Bloomberg News

Dean Foods settles suit with dairy farmers

Dean Foods, one of the largest dairy distributors in the United States, says it has agreed to pay $140 million to settle a lawsuit over pricing with a group of dairy farmers in the Southeast. The dairy farmers said Dean and cooperatives worked together to keep the prices of milk artificially low, thereby limiting the farmers' profits. Dean denied the claims.

-- The Associated Press

Capital One's quarterly profit climbs 50 percent

Capital One Financial said its second-quarter profit rose 50 percent as it made more money from deposits, loans and fees. The company also announced a $2 billion stock offering. Net income rose to $911 million, or $1.97 per share, compared with $608 million, or $1.33 per share, a year ago. Revenue for the period that ended June 30 increased 2 percent to $3.99 billion. -- The Associated Press

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