Stock markets are in freefall over the COVID-19 pandemic and Europe is in a panic over Trump’s travel ban. But this is only the beginning.
economy
Ethiad Airways bailing out on Air Berlin
Beleaguered airline Air Berlin is to cut its fleet by half and is all set to lay off 1,000 employees by the end of this year. The airline, which is in a tailspin caused by stiff competition, and the delayed opening of Berlin Brandenburg Airport, plans to reduce its fleet to about 70 aircraft and cut its workforce down to 7,600 employees.
According to the reports, Air Berlin’s biggest shareholder, Etihad Airways, was in talks with Lufthansa and travel company TUI over chopping up the dead weight and aircraft of the troubled airline. The reports paint a picture of a kind of midair rescue where TUI’s German airline TUIfly and Air Berlin’s Austrian subsidiary Niki might absorb unwanted parts of the business.
Euros Left in the Vapor Trail: Plight of the Single European Sky
With 27 separate bits of airspace connecting European countries, is it any wonder the the old continent still seems fragmented and inefficient? Well, back in 1999 the European Commission launched a plan termed Single European Sky (SES), aimed at uniting all the airspace to fuel a more efficient air travel industry. The big question today it; “What happened to the plan?”
Accor & Other Hotels Say Bye Bye to Summer Profits
Just as some have feared but so few forecast officially, this Summer’s travel was not as big a hit as expected. When Accor Hotel Group warned their investors profit may not meet expectations last week the recession’s effect on hoteliers was cemented for the season.
Magnuson Hotels Extends to Southeast Asia
An exclusive press release from Magnuson Hotels tells of their expansion into the Southeast Asia hospitality market. According to the news, the world’s largest independent hotel group adds the Grand Royal Panghegar Hotel in Bandung. A 450 room, four star hotel, the Grand Royal is situated in the center of Bandung, once referred to as “the Paris of Java.”
Lonely Planet Lays Off Chunk of Online Staff
Just a few days ago, we covered a story about Lonely Planet’s lovely new E-book, and today the news from the travel guide company is that a good portion of its web staff has been given pink slips. The majority of Lonely Planet’s web team is moving to London, while 17 percent will be looking […]
Lounge Your Next Flight with Air New Zealand’s Skycouch
The next time you want to fly Air New Zealand, you might want to try its Economy Skycouch option, a new economy service it will soon introduce. Skycouch squeezes three economy seats together, providing a couple or family with a sky couch, just as the name implies. Pull out the Skycouch footrest, tuck away the […]