Travel Industry News
Thomas Cook Refinancing To Cut Debt
May 16, 2013
Thomas Cook unveiled a GBP£1.6 billion (USD$2.4 billion) refinancing plan on Thursday designed to cut debt and enable it to resume paying dividends in the latest stage of a turnaround at the world's oldest travel firm.
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TUI Cuts Costs In Drive To Pay Dividends
May 15, 2013
German tourism group TUI's new chief executive is cutting costs, restructuring loss-making resorts and cruise operations, and will boost cooperation with unit TUI Travel in a shake-up aimed at resuming dividend payments in 2014/15.
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Abu Dhabi Tourism Company Losses Widen
May 12, 2013
The Abu Dhabi tourism development company, which is building local branches of the Louvre and Guggenheim museums, posted a widening loss last year amid the emirate's property slump and said it could take seven years to turn a profit.
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Red Tape Stifles Croatian Tourism Project
May 12, 2013
The barren Srdj plateau overlooking the mediaeval city of Dubrovnik is a real estate developer's dream, offering breath-taking views of Croatia's top tourist destination.
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TUI Travel Says Strong Summer To Boost Profits
May 10, 2013
TUI Travel, the world's largest tour operator, forecast a full year profit rise of at least 10 percent, driven by strong trading in Britain and the Nordics as it narrowed first-half losses.
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Seychelles Sees Tourist Numbers Rise
May 9, 2013
The number of tourists visiting the Seychelles rose 15 percent in the first four months of 2013, thanks to an influx of visitors from Asia and a pick-up in visitors from some parts of Europe.
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Orbitz Posts Q1 Profit On Tax Benefit
May 9, 2013
Online travel agency Orbitz Worldwide reported a quarterly profit on Thursday, aided by a tax benefit.
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GOL And Delta Extend Codeshare
May 9, 2013
Brazilian airline Gol and US partner Delta Air Lines said on Thursday they were extending their codesharing agreement to Delta's flights between the United States and Brazil.
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Amadeus Optimistic On Growth And US, Asia Expansion
May 9, 2013
Spain-based travel bookings company Amadeus expects revenue growth to pick up in the second half of the year, while the contribution of its US and Asian units should increase, its financial director said on Wednesday.
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Dubai To Treble Tourism Income By 2020
May 5, 2013
Dubai aims to treble its annual income from tourism to AED300 billion dirhams USD$82 billion) by 2020, which would involve doubling the number of its hotel rooms, a senior official said.
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