US business travel down 15 percent in ’09
August 3, 2009 ·
Corporate travel is expected to decline 15 percent this year, according to a new report from PhoCusWright, the travel industry research company. In contrast, the total U.S. travel market is projected to decline only 11 percent in 2009, dipping below 2006 levels, PhoCusWright’s “U.S. Corporate Travel Distribution.” report said. Historically, corporate travel has comprised about [...]
Singapore Airlines warns of full-year loss if recession lingers
July 30, 2009 ·
Singapore Airlines, the world’s second largest airline by market value, sees a full year loss if tough conditions continue but said its cash position remains strong and it does not need to raise capital. Singapore Airlines posted on Thursday its first quarterly loss in six years as the global recession hit passenger and cargo demand, [...]
FAA: Crater Lake helicopter decision to take years
July 27, 2009 ·
A company wants to fly helicopter tours over Crater Lake National Park, but the Federal Aviation Administration says it will take “several years” to consider the proposal. Managers of the nation’s deepest and clearest lake want to see whether flights will significantly disrupt one of the rarities of national parks — silence. Park officials also [...]
Ryanair cuts profit outlook, spooks investors
July 27, 2009 ·
Irish budget airline Ryanair cut full year profit forecasts to the lower end of its range on Monday due to falling yields, sending its shares down 10 percent and impacting the broader airlines sector. Investors shrugged off the carrier’s better-than-expected first quarter profit, which was largely boosted by lower fuel costs, and focused instead on [...]
Hotel loan defaults spike as business travel is grounded
July 27, 2009 ·
Missed loans payments are on the rise, but what is hurting hotels is good for consumers as owners slash room rates by as much as 12%. There’s plenty of room at the inn. So much, in fact, that many high-end hoteliers are bleeding cash and defaulting on their loans. “The industry is clearly in a [...]
US Airways plans to offer inflight Internet
July 23, 2009 ·
US Airways says it will provide in-flight Internet service beginning early next year in a deal with provider Aircell. The service announced Thursday will include Web browsing, instant messaging, e-mail and VPN access for purchase by passengers with laptops or other Wi-Fi devices. Prices will range from $5.95 to $12.95, depending on the length of [...]
US Airways reports profit, not expecting quick recovery
July 23, 2009 ·
US Airways Group (LCC.N) on Thursday reported a second-quarter net profit, reversing a year-ago loss and beating expectations on lower fuel costs, but said it is not counting on a quick rebound in travel demand. The company said its second-quarter net profit amounted to $58 million, or 42 cents per share, compared with a loss [...]
