Briefs

The partial shutdown of the Federal Aviation Administration may give U.S. airlines an extra $1.3 billion in revenues. Congress’s stalemate over FAA funding suspended the agency’s authority to collect taxes on airline tickets. Once the shutdown started at midnight on July 22, most airlines, including United, Delta, and Southwest, raised the base price of fares, keeping the total cost customers pay the same as before the shutdown but pocketing the money that used to go to taxes. The FAA expects to lose about $30 million a day in taxes until Congress returns from summer recess on Sept. 7. The Treasury Dept. is studying whether the FAA can retroactively collect the lost taxes.

Eastman Kodak is building defenses against a possible hostile takeover. The Rochester (N.Y.)-based company’s share price has plunged 54 percent this year. Kodak on Aug. 1 adopted a so-called poison pill that would be triggered if an investor or group accumulates a stake of 4.9 percent or more. Under such a scenario, shareholders as of Aug. 11 would be given the right to purchase one newly issued preferred share for each regular share they own. This would effectively raise the cost for any party attempting a takeover.