Roundup: U.S. Airways flight operations center to close in August; US pending home sales slip in June; more
US Airways flight operations center to close in August
The US Airways flight operations center in Moon will close in August and its work will move to a larger facility in the Dallas-Fort Worth area.
About half of the 650 employees in Pittsburgh will relocate to the new flight center, an $88 million facility that is almost 150,000 square feet. Employees who chose not to move when the center closes Aug. 23 were offered separation packages, said Matt Miller, a spokesman for American Airlines, which merged with US Airways in 2013.
The company announced last year that it would consolidate all flight operations at a facility it was building in Texas but didn't announce a date.
American Airlines is in preliminary discussions with the Allegheny County Airport Authority about what to do with the building in Moon, Miller said. Airport spokesman Bob Kerlik said the airport aims “to find a tenant that could fit into the growing airport development market.”
The state provided $4 million in grants and tax credits when US Airways constructed the 70,000-square-foot center in 2008.
Pending home sales declined 1.8% in June
The number of signed contracts to buy homes fell in June, as limited supplies of homes on the market are holding back possible sales growth.
The National Association of Realtors said Wednesday that its seasonally adjusted pending home sales index declined 1.8 percent to 110.3 last month. Still, strong demand from would-be buyers has pushed the index up 8.2 percent during the past 12 months.
University of Phoenix under investigation by FTC
The University of Phoenix, an online college popular among military veterans, is under federal investigation for possible deceptive or unfair business practices, its parent company Apollo Education Group announced Wednesday.
The for-profit, publicly traded company is the largest recipient of federal student aid for veterans and often a sponsor at military education and employment events.
In a filing to the Securities and Exchange Commission, the company told shareholders that it received a “civil investigative demand” from the Federal Trade Commission this week.
Other business news
• Mylan NV said it received regulatory clearance from the European Commission for its proposed $34 billion acquisition of Perrigo Co., which has rejected Mylan's unsolicited bid. Mylan shareholders will vote next month on the deal; the company expects to take its offer directly to Perrigo shareholders.
• Universal Stainless & Alloy Products Inc. swung to a loss in the second quarter on slumping metal sales to the energy industry. The Bridgeville-based specialty steel producer reported a net loss of $356,000, or 5 cents a share, in the April-June quarter, compared with net income of $1.4 million, or 20 cents a share, in the same quarter last year. Sales declined 5 percent to $49.6 million.
— Staff and wire reports