Business news in brief

By The Associated Press

Flight attendants protest lack of new contracts and pay raises

Flight attendants for major U.S. airlines are holding rallies at airports around the country to push for higher pay. Tuesday’s protests are not, however, a strike. Federal law makes it difficult for airline unions to go on strike.

Flight attendants are frustrated that pilots won huge pay raises last year while they continue to work for wages that, in some cases, have not increased in several years. The protests are being organized by three unions that represent cabin crews at American, United, Southwest and several smaller airlines.

Coca-Cola puts up strong fourth quarter sales

Coca-Cola reported higher-than-expected revenue in the fourth quarter as growth in Mexico, Germany and other markets offset lower sales in the U.S. The Atlanta-based beverage giant said Tuesday its revenue rose 7% to $10.8 billion for the October-December period. That topped Wall Street’s forecast.

Unit case volumes rose 2% for the quarter, led by sparkling soft drinks, juices and Coca-Cola Zero Sugar. Sports drinks, coffee and tea all saw lower demand. Coke said its net income fell 3% to $1.9 billion, or 46 cents per share. Without one-time items, the company earned 49 cents per share. That was in line with Wall Street’s forecast.

Airbnb posts a $349 million fourth-quarter loss

Airbnb says that it lost $349 million in the fourth quarter because of an income tax settlement with Italy. But the company says bookings and revenue rose, and demand for vacation rentals on its platform remains strong.

Airbnb said Tuesday that first-quarter revenue will meet or beat Wall Street expectations. But the company says the pace of bookings growth will “moderate” from the fourth quarter into the first. The company says a settlement with Italy over taxes cost it about $1 billion. Excluding the special expenses, Airbnb says it would have earned $489 million.

—From AP reports