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City and finance

Tui raises further €1.8 billion to repay Covid state aid
Tui upbeat about UK outlook as late summer demand endures
Tui signals strong UK market extending into 2024 with increased demand and selling prices
Tui rolls out accommodation-only platform to Irish market
Tui lays bare huge hike in post-pandemic holiday prices
Operator’s average sales price for summer 2023 up +27% versus summer 2019
Pakistan International Airlines faces another barrier to its UK return
Pakistan's flag carrier seeks cash injection amid UK return bid
Pakistan International Airlines seeks another bailout as it attempts to regain UK flights after three-year safety ban
Tourists are adding to the UK coffers once again
Travel's contribution to UK plc to exceed pre-pandemic levels this year
WTTC forecasts the UK’s travel and tourism income will exceed 2019 figures this year, with employment almost at pre-pandemic levels
On the Beach making headway in premium and long-haul segments
On the Beach making headway in premium and long-haul segments
OTA expects to deliver around 70% additional total transaction value from long-haul bookings this year, and a 30% increase in TTV from premium five-star bookings
Wizz Air jet engine
Wizz Air to cut capacity by up to 10% due to engine issues
The budget carrier says it will seek compensation from US engine manufacturer Pratt & Whitney
Petherbridge said he expects the government's additional £5 billion in retail grants to extend to travel agents
Agents investing in their business in anticipation of record demand for their services
Advantage Travel Partnership members have benefited from an influx of new customers this year, and are investing in their businesses as demand grows anew for agents’ services
Spending with agents continues to grow even as summer winds down
Spending with agents continues to grow even as summer winds down
According to new data from Barclays, spending on airlines and travel agents grew in August, yet the uplift was lower than in July as the summer season drew to an end
Wexas sells corporate travel division to Good Travel Management
The sale, for an undisclosed sum, includes both the purchase of the corporate client base as well as the transfer of 21 employees
Consumers are prioritising holidays despite economic headwinds
Spending on flights and holidays surges despite ongoing finance concerns
Money worries have not stopped consumers from booking overseas breaks, according to new data from Nationwide
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UK's largest OTA Loveholidays refutes rumours of £1bn sale talks
A company spokesperson told TTG on Thursday (24 August) a sale process was “not on the horizon”
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Clarity Business Travel acquires TTG Top 50 shortlisted agency Agiito
Clarity said the newly-combined business would be jointly headed up by the two firms’ executive teams, spearheaded by Clarity chief executive Pat McDonagh
Too hot to handle? Travel faces up to the climate crisis
Tui anticipates €25m hit from Rhodes wildfires
Tui said the extra €25m was used to cover cancellations, as well as the 12 repatriation flights used to evacuate the 8,000 customers
Tui to ramp up hotel portfolio expansion after acquiring Zanzibar resort
Tui to ramp up hotel portfolio expansion after acquiring Zanzibar resort
European travel giant reveals it acquired more than 30 hotels over the past year
Julia Lo Bue-Said: 'We’re refocusing on the future; the key things are our people and strategy'
Travel continuing to defy economic pressures following fourfold increase in lates
Chief executive Julia Lo Bue-Said claimed Brits are continuing to use their money for travel over other discretionary spending
Wizz Air tight-lipped on CAA rap as it reins in summer expansion plans
Wizz Air tight-lipped on CAA rap as it reins in summer expansion plans
Planned 30% hike in capacity cut to 25% owing to infrastructure and supply chain limitations
British Airways parent IAG posts record €1.75bn summer profit
BA parent IAG confident about summer after swing to £1.1bn profit
Chief executive Luis Gallego said on Friday (28 July) leisure demand remains strong across the board, as people want to travel and visit friends and family
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RCG praises 'travel partners' after setting new revenue record
President and chief executive Jason Liberty said the group has made ’positive strides’ towards narrowing the gap in popularity between cruise trips and land-based holidays
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Royal Group upgrades earning forecast again off back of 'exceptional' demand
Strong ticket pricing combined with strength in onboard revenue for European and North America itineraries resulted record yields for the group
Families are still spending on holidays despite worries about cost of living
Spending on travel slows slightly in June but remains healthy
Nationwide Building Society sees slight slowdown in travel and air ticket purchases in June, but with the underlying trend still healthy versus last year
(Credit: Heathrow airport)
Heathrow ‘ready and staffed up’ for summer but warns of ongoing cost of living impact
The London hub reported on Wednesday (26 July) passenger numbers have gone up 42% to 37.1 million passengers over the past six months
O'Leary: ‘France must sacrifice its own connectivity to protect overflights’
EU short-haul capacity to remain constrained this summer – O'Leary
The chief executive said on Monday (24 July) Ryanair’s cost advantage compared to its rivals continued to widen, as the low-cost carrier posted a €663m profit after tax
Set for summer? EasyJet joins Jet2 and Tui in making hay while the sun shines
Set for summer? EasyJet joins Jet2 and Tui in making hay while the sun shines
’The equation looks simple – strong demand versus modest capacity increase equals higher earnings,’ writes Gary Noakes for TTG
The Ryanair delegation met airport chiefs in Ukraine
Ryanair puts $3 billion behind commitment to return to war-torn Ukraine
Ryanair executives have visited Kyiv to pledge to reopen air routes once the conflict in Ukraine ends