Allegiant halts flights to Fort Lauderdale, Fla.
Low-cost airline operator Allegiant Travel Co. said Friday it will end scheduled service from Niagara Falls International Airport to Fort Lauderdale-Hollywood International Airport, even before the first flight soars.
The Las Vegas-based parent of Allegiant Air said it will start the route in July and stop flying it on Sept. 2. The airline will contact customers with reservations after that date to provide a full refund.
The airline announced the route only a few weeks ago.
Spokeswoman Jessica Wheeler said the airline took a chance on a route that it expected would be successful but without a lot of historic data or background information to be certain.
It will continue flying from Niagara Falls to Fort Myers, Orlando and Tampa/St. Petersburg -- routes that "are all doing well," she said.
U.S. to sell AIG shares
WASHINGTON (AP) -- The Treasury Department announced Friday that it will sell more of its shares of common stock in insurance giant American International Group to recoup more of the support the government provided AIG in what was the biggest bailout of the 2008 financial crisis.
It will be Treasury's third sale of AIG stock. The sale is expected to raise around $6 billion. AIG said it planned to purchase $2 billion of the amount put up for sale.
Treasury still owns about 70 percent of AIG's common stock.
Treasury estimates that the Fed and Treasury together have recouped all but about $44 billion of the initial $182 billion bailout amount.
Racing group fires CEO
ALBANY (AP) -- The New York Racing Association says it has fired CEO Charles Hayward and its chief counsel as the state investigates why $8.5 million in winnings wasn't paid to bettors.
The NYRA board of directors reported the firing of Hayward and senior vice president and general counsel Patrick Kehoe on Friday afternoon. Hayward was paid $475,000 annually, and Kehoe was paid $423,000.
The board says they didn't "perform their duties at a level required by the board."
A state report says NYRA knew it shortchanged bettors by extracting inaccurate "take out rates" from winnings and still did nothing about it. NYRA disputes that claim.
Hayward had said the lapse was an inadvertent error.
NYRA has the state franchise to operate thoroughbred racing at the Belmont, Aqueduct and Saratoga tracks.
Jet maker files bankruptcy
WICHITA, Kan. (AP) -- Economic turbulence has shrunk the market for business jets, and it's causing an especially bumpy ride for Hawker Beechcraft.
The Wichita, Kan.-based aircraft maker filed for bankruptcy protection this week, seeking approval for a plan that would write an estimated $2.5 billion in debt off its books and eliminate almost $125 million in annual cash interest expenses.
Hawker Beechcraft Corp., which is owned by Onex Partners and GS Capital Partners, a Goldman Sachs private equity fund, has struggled with the sluggish business jet market.
Web name expansion lags
NEW YORK (AP) -- The organization in charge of expanding the number of Internet address suffixes -- the ".com" part of domain names -- is apologizing for delays but says it's favoring "quality, not speed."
Three weeks ago, the Internet Corporation for Assigned Names and Numbers abruptly shut down a system for letting companies and organizations propose new suffixes, after it discovered a software glitch that exposed some private data. At the time, ICANN planned to reopen the system within four business days. The system remains suspended indefinitely.
Up to 1,000 domain name suffixes could be added each year in the most sweeping change to the domain name system since its creation in the 1980s.