2 airlines to coordinate flightsContinental Airlines and...

BUSINESS DIGEST

July 27, 1993

2 airlines to coordinate flights

Continental Airlines and Air France are expected to announce today an arrangement to coordinate flights, allowing passengers easier travel between the United States and Europe.

Industry executives said yesterday that the agreement would allow airlines to sell seats on each other's flights so that passengers traveling to Europe could, for example, begin on Continental's domestic system and continue overseas on Air France on a single ticket.

American Express earnings surge

American Express Co. reported second-quarter net rose 34 percent as earnings surged in its travel-services and securities divisions.

Second-quarter net reached $416 million, or 83 cents a share, from $310 million, or 63 cents a share, in the year-earlier period. Analysts had expected the 143-year-old company to earn 63 cents a share in the second quarter. American Express has charge-card, travel-planning, mutual-fund and insurance operations.

Jobless benefits cut restored

The Labor Department has restored the 50 percent cut in the number of weeks that long-term unemployed workers can receive federal emergency jobless benefits.

The department said yesterday that, effective immediately, the benefit duration would be restored to between 20 and 26 weeks, depending on the local unemployment situation.

Break asked for flood victims

The Maryland insurance commissioner is asking life and health insurance companies that are based in the state to give policyholders living near the flooded Mississippi River an extra 60 days to pay insurance premiums. Dwight K. Bartlett III said he was acting because so many people have been displaced by the flood, making it difficult for them to collect their mail and pay their bills.

Boeing earnings slip 1 percent

Boeing Co. said its second-quarter earnings slipped 1 percent from a year ago, because of lagging commercial jet sales and less defense business. The earnings, announced yesterday, came to $426 million, or $1.25 a share.

Japanese company selected

The State Department has selected a Japanese construction company to renovate the residence of the U.S. ambassador in Tokyo, even though the U.S. trade representative has found that Japan discriminated against U.S. companies in awarding government construction contracts.

A U.S. company that wanted the job, Fischbach & Moore International, filed a formal protest Friday, contending that the State Department award violated federal law.

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