Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Allegiant Air adding nonstop flights from MidAmerica airport to Florida: Allegiant Air is adding nonstop flights from from MidAmerica St. Louis Airport in the Metro East to Sarasota-Bradenton International Airport in Florida beginning Nov. 15.

This new seasonal route will operate twice weekly, Las Vegas-based Allegiant said Tuesday. With the new route, Allegiant will serve 10 cities from MidAmerica St. Louis Airport.

"Our July record has been surpassed in August with over 45,000 passengers using the airport," Tim Cantwell, director of MidAmerica Airport, said in a statement. "It's clear that travelers from across the region have discovered the advantages of flying through MidAmerica, and the addition of this latest great destination will help to ensure the growth trend continues."

GM, Ford planning for possible economic downturn: The top two U.S. automakers are preparing for a possible economic downturn, the companies said on Tuesday, as an ongoing trade war between Washington and Beijing fuels fears of a global recession.

Tit-for-tat tariffs have increased raw material costs for the global auto industry, which is already dealing with weak demand in both China and the United States.

Ford Motor Co. has a cash buffer of $20 billion for a potential downturn event, Ford North American Chief Financial Officer Matt Fields said at a J.P. Morgan Conference in New York.

General Motors has $18 billion in cash, with the potential to pay two years worth of dividends, the company's finance head, Dhivya Suryadevara, said at the conference.

GM has modeled both moderate and severe downturn scenarios similar to 2008-2009 to get a sense of how it might affect profitability and cash flow at the No.1 U.S. car manufacturer, Suryadevara said.

"It's something that we continually keep watching and updating to make sure that we're all set for when the downturn does come," Suryadevara said, adding that company does not see an imminent downturn. …

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