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American Airlines warns of fare increases if oil remains high

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American Airlines (AAL.O) warned airline passengers may eventually face higher ticket prices if oil prices remain high, prompting carriers to remove seats from the market.

Oil prices have risen around 50 percent compared to the levels seen last year and that is putting pressure on airline profits.

“If it becomes clear this is the new normal you would see over time less capacity and growth in the industry and therefore higher prices, but I don’t think that’s going to happen in the near term,” CEO Doug Parker told reporters on the sidelines of the annual IATA meeting of airline executives in Sydney.
IATA, which represents about 280 airlines comprising 83 percent of global air traffic, has said that on Monday it will revise down its forecast for industry profitability this year due to higher oil, infrastructure and labor costs.

The United States last month agreed a deal with the United Arab Emirates and in January with Qatar to resolve claims from the three largest U.S. carriers that Gulf airlines had received unfair government subsidies.

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Parker said he was pleased with the result of the talks but needed to see more from the Gulf carriers before American Airlines could consider partnerships with them.

“We haven’t had enough time to make sure that those resolutions have the effect that we hope for, so we shall see,” he said.

Qatar Airways had plans to buy a stake in American Airlines last year, but reversed that decision, saying an investment did not meet its objectives. American Airlines executives had opposed the share buy.

When asked on Sunday whether he would be open to investments from Gulf airlines further down the line, Parker said American Airlines did not need such transactions. He added, however: “We are open to investments from everybody.”

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Trump’s staff keeps undercutting his comments about his payroll tax plot: report

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President Donald Trump has claimed that everything will be fine with the removal of the payroll tax, which funds the Social Security trust fund, because he will just throw money in from the general fund. But according to Trump staff, he's confused.

The Wall Street Journal reported Thursday that businesses aren't sure what to do because it would cause more difficulty on their side. The idea, however, isn't a law and it likely won't be enforced until Congress passes such a law, which isn't likely to happen since both sides oppose it.

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Alexandria Ocasio-Cortez dares Trump to compare grades — and says the ‘loser has to fund the Post Office’

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During an interview with Fox Business' Maria Bartiromo on Thursday, President Donald Trump took aim at Rep. Alexandria Ocasio-Cortez (D-NY), saying that she was a "poor student" at "I won't say where she went to school, it doesn't matter."

"This is not even a smart person," Trump added.

Ocasio-Cortez graduated cum laude from Boston University with a degree in political science and economics.

The attack had parallels to when Trump claimed in 2011, baselessly, that he had heard President Barack Obama had been a "terrible student" — even though Obama had run the Harvard Law Review.

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Trump adviser Larry Kudlow: ‘We don’t want to have’ voting rights protections get through Congress

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On CNBC News Thursday, President Donald Trump's economic adviser Larry Kudlow said that the administration does not want protection of voting rights to pass as part of the coronavirus stimulus package.

"So much of the Democratic asks are really liberal left wishlists we don't want to have," said Kudlow. "Voting rights, and aid to aliens, and so forth. That's not our game."

Talks between Congress and the White House are currently at an impasse. The administration is refusing to support outlays greater than $1 trillion, and the president has explicitly demanded there be no funding for the Postal Service, to keep voting by mail as difficult as possible.

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