IATA offers rosy 2018 forecast

December 7, 2017 by  
Filed under Aviation, EUROPE, News

GENEVA, 7 December 2017: Led by US airlines, net profits in the aviation industry are set to rise by some 11% in 2018, the International Air Transport Association (IATA) said on Tuesday as it presented economic forecasts for the industry.

According to the forecast by the industry’s global trade association, combined net profits will hit USD38.4 billion, from a revised USD34.5 billion in 2017, with US carriers weighing in with almost half.

“Strong demand, efficiency and reduced interest payments will help airlines improve net profitability in 2018 despite rising (operating) costs,” said IATA, whose 280 members account for more than three quarters of global air traffic. Read more

CWT: Cost of meeting rises

September 20, 2017 by  
Filed under Events, Hospitality, TRENDING

AMSTERDAM, 20 September 2017: The cost of attending meetings and events is increasing and the latest research suggests they will continue to rise through 2018.

The cost evaluations are part of the latest 2018 Meetings and Events Future Trends report.

Released by CWT Meetings & Events (CWT M&E), a division of global travel management company Carlson Wagonlit Travel, the report shows the regional differences and cost projections as well as the latest industry trends and top destinations. Read more

Thai tourism leaps ahead

September 13, 2017 by  
Filed under News, Thailand

BANGKOK, 13 September 2017:  A leading bank research centre, KResearch, has revised its tourism forecast for Thailand upwards to 35.20 million this year, representing a surge of 8.2%.

Earlier in the year, Kasikorn Research Centre forecast international visits would hit 34.15 million with an estimated revenue of THB1.79 trillion. Now the bank’s research centre says revenue could top THB1.81 trillion.

The revision followed the Ministry of Tourism and Sports release of tourism performance data for January to July that showed tourist arrivals topped 20.41 million up 4.5% on year-on-year. Read more

Travellers face weather woes

July 25, 2017 by  
Filed under News, Thailand, Vietnam

HO CHI MINH CITY, 25 July 2017: Various meteorological sources in Vietnam have warned that more typhoons are expected to make landfall between Thanh Hoa and Quang Binh in central Vietnam 25 to 26 July.

Forecasts say tropical storms will lessen to local, tropical depressions but with possible extreme precipitation.

In its latest alert for the travel trade, Asian Trails Vietnam reported suppliers and tourism organisations in the area had confirmed heavy rainfall in the region, but not to the extent that would cause major interference or disruption of tour operations. Read more

Like it or not China drives Asia’s tourism

June 1, 2017 by  
Filed under TRENDING

BANGKOK, 1 June 2017: Greater China will remain the main source of Asia Pacific arrivals growth through 2021 with Russia also showing strong promise, according to latest findings in the PATA Asia Pacific Visitor Forecasts 2017 to 2021.

Released by the Pacific Asia Travel Association, Wednesday, the report identifies China and the Russian Federation as the key source markets to watch over the next five years.

Other key takeaways include estimates of tourism receipts, income and price variations. Read more

Lufthansa plays down Q1 loss

May 2, 2017 by  
Filed under Aviation, EUROPE, News

FRANKFURT, 2 May 2017: German airline group Lufthansa reported, last week, a much larger net loss in the first three months of the year, but sought to play up a return to positive operating results.

The group reported a net loss of 68 million euros (USD74 million) between January and March, compared with an 8-million-euro loss in the same period last year.

Adjusted operating, or underlying profit stood at 25 million euros, a marked improvement on a 53-million-euro loss in the first quarter of 2016, on the back of revenues up 11.2% at 7.7 billion euros. Read more

PATA bullish on Asia Pacific travel

April 4, 2017 by  
Filed under Trade Talk, TRENDING

BANGKOK, 4 April 2017: Collective foreign tourist arrivals to 39 Asia Pacific destinations will grow by 5.9% over 2016 and add around 35 million additional foreign arrivals in 2017, according to Pacific Asia Travel Association’s latest forecast for the Asia Pacific visitor economy.

Bundled into a comprehensive data package for members under its PATAmPOWER brand, PATA released, Monday, highlights of the arrival trends for 2017 to 2021.

It estimates that during 2017 to 2021, foreign arrivals into the Asia Pacific region will grow at an average rate of 5% per annum, reaching a combined foreign inbound count of close to 758 million trips. Read more

JAL profits sink

February 1, 2017 by  
Filed under Aviation, News, North Asia

TOKYO, 1 February 2017: Japan Airlines on Tuesday said net profit dropped in the nine months to December due to a slump in income from international flights, but the carrier left its full-year forecast unchanged.

JAL posted a net profit of 108.3 billion yen (USD955 million), down 24.6% from the same period the year before. Revenue fell 4.7% to 975.5 billion yen.

The airline said in a statement that income from international passenger flights dropped nearly 10% during the period, while that for domestic flights edged down less than 1%. Read more

2017 promises profits for airlines

December 9, 2016 by  
Filed under Aviation, News

GENEVA, 9 December 2016: The global airline industry is set to make a net profit in 2017 of USD29.8 billion, according to the latest International Air Transport Association forecast released Thursday.

It forecasts revenues of USD736 billion that represents a 4.1% net profit margin.

This will be the third consecutive year (and the third year in the industry’s history) in which airlines will make a return on invested capital (7.9%). Read more

Sri Lanka boom faces challenges

December 1, 2016 by  
Filed under Events, News, South Asia

COLOMBO, 1 December 2016: Advance flight bookings to Sri Lanka, during the next five months are up 1.3%, ahead of where they were at the same time last year.

The booking trends were highlighted in a ForwardKeys presentation, Tuesday, at the Asian Hotel and Tourism Investment Conference in Sri Lanka.

But the figures prompted a down-to-earn warning that Sri Lanka’s spectacular visitor growth looks likely to stall. Read more

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