Eric Fulller named to Federal Reserve panel

Eric Fuller, CEO of the Chattanooga-based trucking giant U.S. Xpress Enterprises, has been named to the Nashville branch board of directors for the Federal Reserve Bank in Atlanta.

He will serve a three-year term on the panel which provides the Fed with economic information from different industries and communities. Fuller is the only Chattanooga on the Fed advisory group.

The Fed uses the information to discuss monetary policy options and make discount rate recommendations. The Atlanta Fed appoints three of the Nashville Branch directors, and the Atlanta head office directors appoint four.

Fuller is also a board member of the American Trucking Associations and the Trucking Alliance. Fuller is a graduate of the University of Tennessee-Chattanooga.

Volkswagen of America president to chair ADA

Volkswagen Group of America President and CEO Pablo Di Si is the new chairman of Autos Drive America (ADA), a trade association that represents 12 international automakers in the United States.

“International auto makers are critical to the U.S. economy,” said Di Si in a statement. “Companies like ours are embracing the nation’s transition to electric vehicles by investing billions of dollars in strengthening domestic assembly and supply chains, and creating thousands of new jobs for American people.”

Di Si said that future growth of international automakers in the U.S. will drive innovation and job opportunities for Americans, but depend on policies that support open trade and benefit all car manufacturers in the marketplace.

Jennifer Safavian, president and CEO of Autos Drive America, said in a statement that ADA is “fortunate to have Pablo Di Si’s energetic leadership at the helm of our board of directors.”

DOT orders refunds for flights canceled by Southwest Airlines

The U.S. Department of Transportation will require Southwest Airlines to give prompt refunds and reimburse extra expenses after its holiday cancellation meltdown, adding pressure from Washington to speed along a move the carrier is already making to placate customers.

The notice from Washington on Tuesday comes as Southwest Airlines is trying to dissect what actually happened to its crew scheduling systems that prompted more than 16,700 cancellations in late December and figure out how to prevent it from happening again.

“Since the Southwest meltdown, DOT has received thousands of consumer complaints about Southwest — including complaints about lack of ticket refunds and reimbursements for services when a traveler was stranded,” a DOT spokesperson said in a statement. “No amount of financial compensation can fully make up for passengers who missed moments with their families that they can never get back, but DOT will continue to work to ensure that Southwest takes care of its customers.”

Southwest has already promised to reimburse “reasonable” requests for reimbursement for people affected between Dec. 24 and Jan. 2 but said it will take time to process all of the claims, chief commercial officer Ryan Green said. The company has set up a website to process requests and has sent out vouchers worth about $300 in flight credits to customers whose plans were disrupted by the storm.

The company has blamed the meltdown on outdated crew scheduling systems that were not able to handle a large number of pilot and flight attendant reassignments after winter storms hit key airports such as Chicago and Denver.

Spirit Airlines pilots to get 34% pay raises

Spirit Airlines pilots have ratified a two-year contract with management that will produce $463 million in economic gains including an average 34% pay hike, the Air Line Pilots Association said Tuesday.

The agreement affects 2,326 pilots, according to the union, which said that 69% of the Spirit members voted in favor of the pact that is retroactive to Jan. 1. The two sides said they reached a tentative contract last month.

Spirit, which is based in Miramar and maintains the largest airline presence at Fort Lauderdale-Hollywood International Airport, did not immediately issue a comment.

The airline is destined to be acquired by JetBlue Airways of New York, and the pilots’ deal would be in force for as long as Spirit remains an independent carrier. The $3.8 billion takeover agreement entered into last year will not go into effect until the companies receive federal regulatory approval.

“This [agreement] not only offers the financial gains our pilots need today, but also creates a stronger bargaining position for Spirit Airlines pilots at our next step, either in the merger process with JetBlue or in comprehensive negotiations with Spirit Airlines as a stand-alone carrier,” said Capt. Ryan Muller, chairman of the Spirit’s master executive council of ALPA.

Airbus tops Boeing as No. 1 planemaker

Following three miserable years of contraction in Boeing’s commercial airplane business, the company in 2022 took substantial steps toward a recovery, reflected in Tuesday’s release of its final jet order and delivery figures.

That wasn’t enough though to match the 2022 performance of bitter rival Airbus, which both built more planes and won more orders.

Airbus remains the world’s No. 1 planemaker for the fourth successive year.

“I’m happy to report we’ve enjoyed four consecutive years of leadership,” said Airbus sales chief Christian Scherer in a press call Tuesday. “I look forward to making it five.”

However, in the more lucrative widebody airplane category, the two jetmakers were essentially even in production and Boeing won more orders.