Delta Air Lines has added a daily non-stop flight between Fort Wayne and Minneapolis-St. Paul, local airport officials announced Monday.
The flight, which begins April 6, will be seasonal, according to a written statement from the Fort Wayne-Allen County Airport Authority. The new route will allow local fliers one-stop trips to Asia and the Western U.S.
Delta Connection partner Pinnacle Airlines will operate the new service, which will use a 50-seat regional jet. Flights will depart Minnesota at 7:20 p.m. and arrive in Fort Wayne at 9:55 p.m. Flights will depart Fort Wayne at 6:50 p.m. and arrive in Minnesota at 7:35 p.m.
K&K Insurance buys Leisure Sports unit
K&K Insurance Group Inc. on Monday announced its purchase of Leisure Sports Specialists LLC’s books of business. Terms of the deal, which are effective immediately, were not disclosed.
Fort Wayne-based K&K has specialized in the sports, leisure, entertainment and motorsports insurance industries since 1952. Fort Wayne-based Leisure Sports Specialists opened in March 2005. The company’s founder, Matt Sackett, will join K&K.
The companies will integrate business operations this week. K&K is a division of Aon Underwriting Managers.
Loan coverage adds to Old National loss
Old National Bancorp on Monday reported a fourth-quarter loss of $9.3 million, or 1 cents per common share, a plunge from earnings of $6.3 million, or 10 cents a share, posted for the same three months of 2008.
The Evansville-based holding company for Old National Bank also reported 2009 earnings of $9.8 million, or 14 cents a share, an 84 percent drop from the $62.2 million, or 95 cents a share, posted for 2008.
Old National attributed its fourth-quarter loss to several factors including its decision to increase its provision to cover bad loans by $21.8 million. The bad loans included a single $12 million non-real estate commercial loan, the company said.
Coachmen reduces annual, quarterly loss
Coachmen Industries Inc. on Monday announced an annual loss of $1.7 million, or 11 cents per diluted basic share, a vast improvement over its 2008 loss of $69 million, or $4.37 a share.
The Elkhart-based maker of specialty vehicles and housing reported a fourth-quarter loss of $2.87 million, or 18 cents a share, compared to a loss of $52.9 million, or $3.35 a share, posted for the last three months of 2008.
The company’s recreational vehicle sales more than tripled in the fourth quarter compared with the previous year.
AP renews licensing contract with Yahoo
The Associated Press has signed a licensing deal with Yahoo Inc. The announcement by both companies Monday didn’t disclose terms of the agreement.
The AP, a news cooperative, says it is still negotiating to renew its online licensing agreements with two other companies with far deeper pockets, Google Inc. and Microsoft Corp. Google stopped posting fresh AP content on its Web site in late December.
Stung by the its first downturn in revenue in years, AP has said it needs to make more money from the online rights to its stories, photographs and video as more people flock to the Web for information and entertainment.
It’s unclear whether the AP achieved its objectives in the Yahoo deal.
