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The Briefcase: PTI boardings remain on slow recovery trend

The Briefcase: PTI boardings remain on slow recovery trend

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PTI boardings remain on slow recovery trend

Boardings at Piedmont Triad International Airport continued during October to slowly increase month-over-month amid the COVID-19 pandemic.

October boardings were at 30,922, up 16.6% from 26,523 in September, the Piedmont Triad Airport Authority reported Tuesday.

However, PTI's year-over-year boardings were down 68.9% from the 99,444 in October 2019. The year-ago totals reflected the typical High Point Market-related boardings.

American Airlines and affiliates had 16,146 boardings, down 57.8% from a year ago. It holds a 46.3% market share over the past 12 months.

Delta Air Lines and its affiliates were in second place with 9,873 boardings, down 75.9%. Delta holds a 34.8% market share. United Airlines and its affiliates were third with 3,411, down 75.1%. Allegiant Air was fourth at 1,287, down 53.5%.

Spirit Airlines, one of two low-fare carriers at the Greensboro airport, maintained a suspension of its PTI service through October.

Richard Craver

Insteel declares quarterly dividend

The board of directors for Insteel Industries Inc. declared Tuesday a regular quarterly cash dividend of 3 cents per share and a one-time special cash dividend of $1.50 per share.

The dividends are payable Dec. 18 to shareholders registered as of Dec. 1.

"We welcome the opportunity to return capital to our shareholders through the payment of a special dividend while fully funding our aggressive capital investment program and maintaining ample financial flexibility to pursue acquisition opportunities that may arise," H.O. Woltz III, Insteel's president and chief executive, said in a statement.

Richard Craver

S.C. group plans to buy Cruizers convenience chain

Refuel Operating Co., a retail and wholesale fuel distribution and convenience-store business, has entered into an agreement to acquire the assets of Holmes Oil Inc., including the Cruizers c-store chain.

Terms were not disclosed. The deal is projected to close in the fourth quarter.

Edward Holmes founded Holmes Oil, based in Chapel Hill, when he purchased Kenan Oil Co. in 1997.

The company owns and operates 26 convenience stores in the Triangle. It also operates a wholesale distributorship for ExxonMobil and Valero motor fuels.

The transaction represents the sixth acquisition for Charleston, S.C.,- based Refuel since it was acquired by First Reserve of Stamford, Conn., in May 2019. It now has 113 stores companywide.

Richard Craver

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