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Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

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Social House Fort Worth plans to open mid-November

Social House has leased 5,045 square feet at 2801-2873 W Seventh St. in Fort Worth, according to Xceligent Inc.

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Ski Grand Prairie? TCU, UTA grad helping bring snow to Metroplex

For Levi Davis last week may have been a career peak, in more ways than one.

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GE rises most in year with equipment order increases, including at Fort Worth locomotive unit

NEW YORK — General Electric Co. beat analysts' profit estimates in the third quarter as Chief Executive Officer Jeffrey Immelt squeezed more costs from the manufacturing units.

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Dallas-Fort Worth in top five commercial real estate markets in 2015

According to the Emerging Trends in Real Estate 2015 report, just co-published by PwC US and the Urban Land Institute (ULI), Dallas-Fort Worth ranks No. 5, with two other Texas cities, Houston and Austin ranking at No. 1 and 2 respectively. San Francisco ranks No. 3 and Denver No. 4.

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American Airlines, Southwest say summer travel is back

Dallas/Fort Worth International Airport

Mary Schlangenstein
(c) 2014, Bloomberg News.
DALLAS — American Airlines Group Inc. and Southwest Airlines Co. forecast a strong summer travel season, a pivotal period for the industry when vacationers join business fliers to pack planes to their fullest.

American said second-quarter revenue for each seat flown a mile, a benchmark for traffic and fares, will exceed the projection it gave just last month. Southwest Chief Executive Officer Gary Kelly told employees he expects "great" seasonal travel.

 

A pickup in air travel would bolster an industry rebound as airlines seek greater pricing power. The summer months are the busiest for U.S. carriers, with passenger traffic peaking in July, followed by August then June, according to data compiled by Bloomberg. An Airfarewatchdog survey of 13,000 travelers found that 77 percent planned to fly on vacation this summer, compared with 15 percent who will drive.

"The U.S. domestic market continues to remain the driver of the overall strong demand" that should push pricing higher through the summer, Helane Becker, a Cowen & Co. analyst, said in a note to investors.

American, based in Fort Worth, Texas, said it expects passenger revenue this quarter for each seat flown a mile to rise 5 percent to 7 percent from a year ago, an increase over its May forecast of up 4 percent to 6 percent. The measure, known as PRASM, is an industry benchmark for traffic and fares.

Southwest, based in Dallas, estimated May PRASM rose 8 percent to 9 percent over May 2013 and said load factor, or the average amount of seats filled per flight, increased 1.8 points to 83.7 percent.

"We had another strong month," Kelly told employees on a recorded message. "It was an all-time record load factor for the month of May and another strong revenue increase. We'll be off to a great summer season. Really strong results for 2014 are continuing."

May traffic reports prompted Joseph DeNardi, a Stifel Nicholas & Co. analyst, to increase his 2014, 2015 and 2016 profit estimates for Delta Air Lines Inc. and his 2015 and 2016 outlook for American's profits.

Delta, the third-biggest U.S. carrier behind American and United Continental Holdings Inc., reported June 3 that PRASM rose 7 percent in May as load factor rose 1.7 points to 86.5 percent.

United hasn't reported May results.

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