American Airlines Thursday reported a profit in its first full quarter since acquiring US Airways, benefitting from lower fuel costs and a gain from the sale of some airport slots. American, the biggest US airline by revenue, said first-quarter net income was $480 million, compared with a loss of $297 million from the combined year-ago results of American and US Airways. American and US Airways closed their merger in December 2013. The airline also notched $137 million in special credits due mainly to the sale of airport slots at Reagan National Airport in Washington that was mandated by antitrust regulators for approval of the US Airways deal.
Munich (Germany) (AFP) - Formula One supremo Bernie Ecclestone went on trial in Germany on Thursday, denying charges of bribery that threaten to land the British billionaire in jail. Ecclestone, 83, is accused of paying a German banker tens of millions of dollars to ensure his continued grip on the motor sports empire he built up virtually single-handedly over four decades. The mop-topped, diminutive F1 magnate entered the packed Munich courtroom in his trademark black suit and white shirt, saying only: "I'm confident, the sun is shining." He also declared that Ecclestone does not intend to speak for now in the trial that is set to run until September.