Home Tags Oil prices

Tag: oil prices

IATA downgrades 2012 airline industry outlook due to rising oil prices

Geneva – The International Air Transport Association (IATA) announced a downgrade to its industry outlook for 2012 primarily due to rising oil prices.

Gulf economies to reap $44B from travel and tourism

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

IATA slashes airline industry 2011 profit outlook to $4 billion

Singapore - The International Air Transport Association (IATA) further downgraded its 2011 airline industry profit forecast to $4 billion.

Tourism faces the high cost of fuel

Whether we like it or not, tourism entities need to begin to consider the on-going relationship between the cost of oil and the cost of travel.

It is survival of the fittest in aviation

(eTN) - The aviation industry, just recovering from the sharp recession during and after the global financial and economic crisis, is facing another serious threat to the industry’s ability to make

IATA slashes 2011 airline industry outlook to $8.6 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.

Aer Lingus back in the black

LONDON — High fuel prices could significantly depress earnings this year, waned Aer Lingus, even as it reported a return to profit last year.

Are Arab nations snubbing the West by pushing for integration with...

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.

International travel booming despite oil prices

MANILA, Philippines - Despite the global slowdown and surging oil prices, international travel is booming due to the globalization of business, rise of low-cost carriers and rising affluence, said a leading global travel solutions firm.

Caribbean can weather tourism storm

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.

US airline industry headed toward ‘catastrophe’ at current oil prices

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.

Rising costs reshaping air travel across the USA

Record-high oil prices are threatening to ground millions of travelers who have grown accustomed to flying for fun and business during the past 30 years.

Oil prices may force airline consolidation

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.

2007: A winning year in tourism

(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.