Business news with words air+deal. 60 or more news.

ROME (Reuters) - Alitalia has been exploited by politicians for too long and could not continue in its present state, Italy's economy minister told a newspaper, defending the decision to pave the way for a deal with Air France-KLM.

LONDON (MarketWatch) -- Europe stocks weakened out of the gate on Monday, a half-day of trade ahead of the New Year's holiday. Air France-KLM shares rose 1% in early trading Monday, following Friday's news that it's the preferred bidder to buy Alitalia . Cairn Energy , the Scottish oil explorer that surged last week on the back of deal speculation, strong oil prices and its re-entry into the FTSE 100, slipped 1.6%. London Scottish Bank tumbled over 16% after taking a provision and warning it won't be able to pay its final dividend. The FTSE 100 slipped 0.2% to 6,462.70 in London and the CAC 40 dipped 0.2% to 5,616.79 in Paris. German and Swiss markets were shut.

Letterman's production company accepts an interim agreement allowing the late-night comedian and his colleague Ferguson to return to the air Jan. 2 -- with the help of their writers. David Letterman's production company brokered an independent deal Friday with the Writers Guild of America that will allow "Late Show With David Letterman" and its sister program, "The Late Late Show With Craig Ferguson," to return to the air Wednesday with their writing staffs.

The U.S. Air Force must provide a better explanation for why it gave Boeing Co. a $1.1 billion contract to maintain KC-135 tanker aircraft, the Government Accountability Office said, upholding part of a protest from rival bidder Pemco Aviation Group Inc.

SAN FRANCISCO (MarketWatch) -- Midwest Air Group Inc.'s Midwest Airlines said Thursday it extended a codeshare pact with Northwest Airlines Corp. to include Northwest's nonstop routes from Indianapolis to seven cities. Financial terms of the deal weren't disclosed. Midwest, a Milwaukee-based airline holding company, said the new agreement will add 250 city pairs and 1,000 new flight options. Customers can engage in single ticket transactions using both airlines under the deal, and choose to earn mileage on on either company's frequent flyer program. The first phase of the agreement began Nov. 17, the company said.

LONDON (MarketWatch) -- Boeing and British Airways said they have finalized a deal in which the U.K. airline would order 24 787 Dreamliners at a list price of $4.4 billion. Airplanes are usually sold at a discount to list prices. British Airways also placed options for 18 787s and purchase rights for an additional 10.

DOMESTIC carriers are anxiously awaiting China Eastern Airlines' shareholder meeting on January 8, as the result will indicate the future direction of the aviation industry. China Eastern and Singapore Airlines have fallen in "bitter love" since they signed a cooperation deal last month. Under the terms of the deal, Singapore Airlines will spend HK$4.7 billion (US$602 million) to buy a 16-percent stake in China Eastern, and its parent Temasek Holdings Pte will buy an 8.3-percent stake for HK$2.5 billion at HK$3.80 a share. China Eastern's parent will buy 1.1 billion new shares for HK$4.18 billion to maintain a majority stake. However, the deal requires approval from minority shareholders, including Air China, once a bidder for China Eastern. Air China, the country's flagship international carrier, hasn't declared whether it will accept or veto the deal. Xia Fulu, analyst of Industrial Securities, said Air China dreams of becoming one of the top 10 carriers in the

LINDE Group said it has secured a long-term supply contract with a leading Chinese polyurethane company involving a total investment of about US$125 million, the German gases and engineering firm's single largest investment in China. Linde Gas Ningbo, its wholly-owned unit, will supply oxygen and nitrogen to Ningbo Wanhua Polyurethane Co's plants in eastern China from 2010 onwards, according to a statement. The world's largest maker of industrial gases will build two sets of air separation units, each with the capacity to produce 1,300 tons of oxygen per day, and a 30-kilometer long pipeline infrastructure, to supply Ningbo Wanhua and Ningbo Steel. The facilities will also produce 800 tons per day of liquid nitrogen, oxygen and argon, for the merchant market in Ningbo, Zhejiang Province, in addition to rare gases like krypton and xenon. "Linde's investment in this project signals our long-term commitment in China, underpinned by our expertise in the entire coal

David Letterman doesn't even need writers to have fun with this one. The late-night comic's representatives met with striking writers on Friday in an attempt to reach a deal that will allow the "Late Show" to return to the air with its writing staff.

CHINA Eastern Airlines Corp and Singapore Airlines are fully committed to the agreed upon sale price of HK$3.80 a share, officials from the two carriers said in Shanghai yesterday. "This is the only and final plan that has been approved by the Chinese government, and to achieve the plan has become our task," Luo Zhuping, China Eastern's board secretary, said in response to Air China's potential to disrupt the deal. "We only choose to work with top companies, which can improve our products and mechanism, and we believe the restructuring of state-owned enterprises requires opening up," Luo said. Singapore Airlines Ltd and its parent Temasek Holdings Pte signed an agreement last month to buy 24 percent of China Eastern Airlines Corp at HK$3.80 a share. Under the terms of the deal, Singapore Airlines will spend HK$4.7 billion (US$602.48 million) on a 16-percent stake in China Eastern, and Temasek will buy an 8.3-percent stake for HK$2.5 billion. China

CHINA Eastern Airlines Corp failed to win support from Air China Ltd's parent for a stake sale to Singapore Airlines Ltd during yesterday's meeting of company executives, the Shanghai Securities News reported, citing unidentified people. China Eastern Chairman Li Fenghua and President Cao Jianxiong held a three-hour meeting with Li Jiaxiang, chairman of Air China and its parent, China National Aviation Holding Co, and Cai Jianjiang, president of Air China, in Beijing yesterday, the newspaper said. The meeting didn't "bear fruit" and Air China's parent didn't express support for the deal, said the newspaper, affiliated with Xinhua news agency.

Leaders of striking television writers plan to meet Friday with David Letterman's production company in an attempt to reach a separate deal that could make the ''Late Show'' the only late-night TV program on the air with a writing staff.

Was there a deal between Turkey and America? AS IF Iraq did not have enough problems of its own. On December 16th Turkish aircraft bombed what they said were Kurdish rebel positions deep inside northern Iraq. It was one of the biggest cross-border air strikes in recent years and was followed by an incursion by about 300 Turkish troops. They were said to be lightly armed, and advanced only 3km (1.9 miles) into Iraq. But the two actions mark a big escalation of the traditional hostilities. The Turks' targets were Kurdish fighters of the Kurdistan Workers' Party (PKK), who have used bases inside the semi-autonomous Kurdish enclave in northern Iraq to launch raids into Turkey. Although Iraq's American occupiers have worked hard in recent months to prevent such a raid, Turkey's most senior general said that the Americans had not only agreed to the air strikes but had also provided the necessary intelligence. ...

Air France-KLM sought to deal a death blow to the rival airline bidding for Alitalia, Italy's loss-making national carrier, by unveiling a

TRENTON, N.J. (AP) -- In a deal worth a cool $10 billion, Ingersoll-Rand Co. will acquire Trane Inc. and create one of the world's largest makers of commercial and residential home air conditioners, refrigerators for trucks and stores, and other climate control products....

Ingersoll-Rand Co. will acquire Trane Inc. in a US$10.1-billion deal that would create one of the world's largest makers of air conditioners, the two companies announced Monday.

LONDON (MarketWatch) -- Air France-KLM on Monday said it's made a non-binding offer to acquire all the shares of Alitalia and detailed plans to inject at least 750 million euros ($1.09 billion) of fresh capital into the struggling Italian airline.

Ingersoll-Rand will acquire Trane in a $10.1 billion deal that would create one of the world's largest makers of air conditioners, ...

Ingersoll-Rand Co. will acquire Trane Inc. in a $10.1 billion deal that would create one of the world's largest makers of air conditioners, the two companies announced Monday.

Ingersoll Rand, the industrial conglomerate, said Monday it would buy Trane, the air conditioning company that is the successor to American Standard, for $10.1 billion in cash and stock. Terms of the deal, which boards of both companies have approved, call for each Trane share to be swapped for $36.50 in cash and 0.23 shares of [...]