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Geneva – The International Air Transport Association (IATA) announced a downgrade to its industry outlook for 2012 primarily due to rising oil prices.
MUSCAT, Oman — The total direct contribution of travel and tourism to GDP in GCC countries is expected to reach $44 billion this year, up 27 per cent from 2009, the peak of the financial crisis in t
Singapore - The International Air Transport Association (IATA) further downgraded its 2011 airline industry profit forecast to $4 billion.
GENEVA, Switzerland - The International Air Transport Association (IATA) downgraded its airline industry outlook for 2011 to $8.6 billion from the $9.1 billion it estimated in December 2010.
When it comes to tourism investment money, the message that is reverberating across Arab nations is clear: Focus on the region and forget the rest.
CASTRIES, St. Lucia - While the price of oil sky-rockets and airlines reduce services and increase fares to some Caribbean destinations, one of the region's most experienced tourism officials wants the Caribbean to embark on innovative strategies to mitigate any negative fallout in Caribbean travel.
WASHINGTON, DC & RADNOR, PA - At current oil prices, several large and small US airlines will default on their obligations to creditors beginning at the end of 2008 and early 2009, according to a study issued today by AirlineForecasts, LLC and the Business Travel Coalition.
Northwest Airlines Corp. CEO Doug Steenland says high crude oil prices may further encourage consolidation in the airline industry, according to media reports.MarketWatch reports that Steenland said the looming recession and the fast rise in oil prices make airline consolidation "inevitable," according to a transcript released Tuesday.
(eTN) – As we begin yet another year, tourism trends do not look bleak, just yet. The sustained growth rate of the past 10 years will continue with full year growth rates estimated at 5.7 percent average. Growth will be driven by the emerging markets and the developing countries.