City and finance

On the Beach poised for ‘biggest summer ever’ thanks to Ryanair deal

The OTA’s total transaction value (TTV) for this summer is running 22% above last year’s levels as a result of deal with low-cost carrier

British Airways parent IAG pins soaring profits on strong winter demand

IAG recorded a seven-fold increase in operating profit during the three months to 31 March

Expect M&A activity to take twice as long as anticipated, travel told

Barclays Travel Forum have been warned completing a successful sale could take significantly longer than anticipated

Travel poised for continuous growth despite economic and political challenges

Delegates at the Barclays Travel Forum were told travel had a great 2023, with 2024 set to be even better

Trade-friendly coach firm targets UK expansion after acquiring rival

Caledonian Leisure has bought rival Tartan Travel from hotel and tour operator Blackpool Promotions

Overseas holidays 'outshining' staycations as consumer confidence 'picks up' – Barclays

Travel agencies enjoyed strong sales in April as bad weather fuelled bookings

Miles Morgan sells up to Hays Travel after nearly 20 years

Hays Travel said it had no plans to rebrand any of Miles Morgan Travel’s 19 branches across the South West and South Wales

Dublin agency The Travel Broker acquired by Frosch Ireland

Leisure agency was founded in 1994 by current ITAA chief executive Clare Dunne

Abta's finances continue to recover as it sheds pandemic hangover

New financial figures from Abta show a healthy surplus despite making a loss on trade association activities in 2022/23

Jet2 bullish about summer 24 despite 'competitive' April and May pricing

Jet2 Group says it is happy with summer 2024 sales so far and has outlined profit expectations for the 2023/4 financial year ahead of results announcement

'We've moved the dial on youth mobility – it's vital to travel's future talent pipeline'

Any failure by the UK government to negotiate a youth mobility framework with the EU risks turning off the industry’s future talent pipeline, Abta’s director of public affairs Luke Petherbridge writes for TTG

Airlines charging ‘quite stunning levels of pricing’ post-pandemic

Airlines are charging very steep fares on the back of high demand and reduced capacity, says leading industry consultant, with passengers willing to pay them

Family holiday prices ‘stabilising’ despite ongoing economic uncertainty

Biggest year-on-year fall in prices was in Spain’s Costa Dorada, while the biggest year-on-year increase also came in Spain along the Costa del Sol

Strong demand for packages set to ease easyJet's winter losses by £50m+

EasyJet issues an interim trading update outlining its performance over the winter, which includes a strong contribution from easyJet holidays and an increase in ancillary sales

£150m ‘agency to the stars’ snapped up by private equity firm

With the backing of ECI Partners, TAG – which books trips for stars like Jay-Z and Rihanna – said it was poised for further expansion

Travel remains top consumer spending priority heading into spring – Barclays

Spending on travel grew by 7.8% year-on-year in March according to new data from Barclays, placing it ahead of all other areas of non-essential spending

Virgin Atlantic 'on track' for 2024 profit despite another year of losses

Virgin Atlantic will return to profit this year as it celebrates its 40th birthday, its chief executive promises

Spring Atol renewals indicate ‘growing demand for packages’ – CAA

CAA says the March round of Atol renewals indicates healthy demand for package travel

South African Airways ‘here to stay’, troubled carrier's boss insists

South African Airways will continue to fly despite the collapse of a privatisation deal, its chief executive has said

Amex Global Business Travel to acquire rival CWT for $570 million

The transaction will be funded by a combination of stock and cash and is expected to close during the second half of this year

Southend airport 'fully operational' despite owner calling in administrators

Owner Esken said it did not expect administration to have any impact on the airport’s protracted restructure

Deal agreed to potentially reopen Doncaster Sheffield airport

Doncaster Sheffield airport owners Peel Group agrees to lease the airport to local authority, which pledges to reopen it

Gatwick spells out post-Covid recovery as profits and passenger numbers rebound

Gatwick details its 2023 financial and operational results, reaching near pre-Covid levels of performance

Intrepid Travel turns around £9 million loss to post record annual profit

Intrepid Travel’s annual report reveals its fortunes in a year of recovery with optimistic forecasts for 2024