Bloomberg Overbooking is a necessity for the airline industry, according to Azul SA Chief Executive Officer and JetBlue Airways Corp. founder David Neeleman. “There are a lot of no-shows,” Neeleman said at the New York Stock Exchange, shortly after Azul went public. Shares closed up 7.2 percent from their offering price in U.S. trading. “What would hurt the airlines …

  FORT LAUDERDALE / AP Low-cost Spirit Airlines is the latest carrier to cut flights to Cuba. The Miramar-based airline began serving Havana on December 1 with twice-daily flights from Fort Lauderdale-Hollywood International Airport. But Spirit President and CEO Bob Fornaro said that “the costs of serving Havana continue to outweigh the demand for service.” The airline will reduce its …

  Bloomberg US Energy Secretary Rick Perry is ordering a study of the US electric grid, with an eye to examining whether policies that favor wind and solar energy are accelerating the retirement of coal and nuclear plants critical to ensuring steady, reliable power supplies. The 60-day review, which Perry set in motion on Friday, comes as regulators increasingly wonder …