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Delta, United to face class action over high airfares

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Delta Air Lines and United Airlines have been ordered by a federal judge to face a consumer antitrust class action lawsuit alleging that major U.S. carriers conspired to artificially inflate domestic airfares by reducing available seating capacity.

U.S. District Judge Colleen Kollar-Kotelly in Washington, D.C., delivered her decision on Tuesday, acknowledging that passengers had presented a “fair amount” of circumstantial evidence indicating a conspiracy to limit seating capacity, ultimately boosting industry profits.

The lawsuit, initiated in 2015 following a U.S. Department of Justice investigation into potential anticompetitive practices by airlines, persisted despite the absence of formal charges. Passengers asserted that a conspiracy dating back to 2009, characterised as “capacity discipline” by the carriers, drove up ticket prices and limited flight options.

Previously, American Airlines and Southwest Airlines settled the claims for $45 million and $15 million, respectively, without admitting wrongdoing.

Delta and United defended their seat capacity reductions, describing them as legitimate responses to decreased demand, rising fuel costs, and the 2008 global financial crisis. United even termed it “perfectly rational Economics 101.”

Both airlines had recently emerged from bankruptcy, with United in 2006 and Delta in 2007.

Delta, responding to the judge’s decision, expressed its commitment to continue defending against the lawsuit, asserting that it had always independently determined capacity based on market demand.

United, on the other hand, expressed disappointment and indicated its intention to seek reconsideration of the ruling or file an appeal.

The settlements involving American and Southwest gained final court approval in 2019, but payouts to affected passengers will not commence until the claims against Delta and United are resolved. 

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Why Australia is becoming the new home of the Hollywood blockbuster

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Australia’s multimillion-dollar campaign to attract Hollywood productions to its shores appears to be paying off.

The allure of Australia lies not only in its picturesque locations but also in its competitive financial incentives.

The government offers generous rebates and tax breaks to international productions, making it an attractive proposition for filmmakers looking to maximise their budgets.

Despite the recent intake of Hollywood productions down under such as ‘The Fall Guy’ and ‘Furiosa: A Mad Max Saga’, Aussie independents are still finding the space to carve their own creative path.

Rob Fantozzi joined the program to discuss the latest in Hollywood, and showcased his own upcoming project – ‘Omerta‘. #featured

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Portal between countries shut down after international flashing

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An international video portal has been forced to shut down after an OnlyFans model reportedly flashed passersby from across the globe.

On this episode of Ahron and Mike Live – Which would you prefer; pay rise or work perks, an international portal closes, the military reveal a submarine stingray and are you on a top or bottom burger bun?

Ticker’s Ahron Young & Mike Loder discuss. #featured #trending

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U.S. home prices surge 47%

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American home prices are rising at faster pace now than in the last 20-years.

A recent analysis reveals a jaw dropping surge in the cost of American homes.

Since the start of 2020, U.S. home prices have surged 47% easily outstripping the gains seen in recent decades.

On top of that, home price growth so far this decade is on the verge of surpassing all the growth seen in the 2000s.

Many experts believe this decade’s housing market frenzy was ignited by a perfect storm — the onset of the COVID-19 pandemic triggering an unprecedented rush among buyers.

Tom Hutchens, the Executive Vice President of Production at Angel Oak Mortgage Solutions joins Veronica Dudo to discuss.

#IN AMERICA TODAY #economy #housing #housingmarket #homeprices #homesales #inflation #trending

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