Costa Crociere has agreed to pay $1.3 million in fines to settle potential criminal charges in Italy stemming from the January 2012 Costa Concordia disaster. Reuters reports that both Costa and the Italian prosecution are satisfied with the settlement.

The National Securities Market Commission in Spain has given the green light to a revised offer from International Airlines Group for low-cost carrier Vueling. The body had approved a bid at €9.25 per share. IAG-owned Iberia presently owns 45.85 per cent of Vueling shares.

Delta Air Lines has partnered with the City of Los Angeles and Los Angeles World Airports to significantly overhaul Terminal 5 at Los Angeles International Airport. The $229-million construction project has already begun and is scheduled to be fully completed by 2015.

Foreign investment in Dominican Republic topped US$3.6 billion last year, or nearly 40% higher than 2011, while the government "embraces" the hope of also positive results at yearend 2013. Dominican Republic Export and Investment Center (CEI-RD) director Jean Alain Rodriguez revealed the figures on Tuesday.