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Wall Street Breakfast

American Airlines fined for tarmac delays

Wall Street Breakfast

Seeking Alpha

News, Business, Business News, Investing

4.11K Ratings

🗓️ 29 August 2023

⏱️ 7 minutes

🧾️ Download transcript

Summary

American Airlines (AAL) is hit with the largest fine ever for breaking tarmac delay rules. (00:27) Toyota (TM) halts production at all factories in Japan. (01:17) Amazon (AMZN) hikes free shipping minimum to $35 to match Walmart's (WMT) requirement. (02:36)

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Transcript

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0:00.0

Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

0:07.0

Good morning. Today is Tuesday, August 29th, and I'm your host Julie Morgan.

0:12.0

American Airlines is hit with the largest fine ever for

0:15.8

breaking tarmac delay rules. Amazon raises its free shipping minimum for non-prime

0:21.6

members and Toyota stops production at its factories in Japan.

0:27.0

American Airlines has been fined $4.1 million for violating federal statutes and a rule that prohibits

0:34.8

tarmac delays of three hours or more on domestic flights without providing

0:39.6

passengers an opportunity to deplane. The fine was announced by the Department of Transportation on Monday.

0:46.0

An investigation by the agency covering 2018 to 2021

0:50.0

found that the carrier kept dozens of flights stuck on the tarmac for long periods of time without letting passengers off.

0:57.0

Do you say the fine levied against American Airlines is the largest fine ever for tarmac delay violations.

1:05.0

Of the $4.1 million assessed against the company, $2.05 million will be credited to the airline for compensation provided to passengers on the affected flights.

1:17.0

Japanese Auto Giant Toyota faces a standstill at its factories in Japan due to a production malfunction.

1:24.8

The Japanese car manufacturer suspended operations at 12 of its 14 domestic plants on Tuesday morning

1:31.4

and added the final two in the afternoon.

1:34.0

A company spokesman told Reuters that the glitch left the company unable to order components.

1:40.0

They said the amounts of lost output remains unclear.

1:43.7

Last year Toyota was forced to temporarily suspend operations

1:48.0

at all 14 domestic plants due to a cyber attack.

1:51.8

This time around, the system error is not believed to be a cyber attack.

1:56.4

These 14 plants together account for around a third of Toyota's global production.

2:01.8

Toyota is known for its just-in-time inventory management, which reduces costs but

...

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