City and finance

EasyJet marches on despite 'unprecedented' air traffic control disruption

Carrier remains confident of delivering record pre-tax profit during Q4 despite impact of European airspace constraints and ATC strikes

Delta reports record quarterly profits as US bounces back

Delta Air Lines surges to record profits and revenue in second quarter

Air Travel Trust fund in the black despite more Covid-era failures

The Air Travel Trust has £139 million in cash, latest report from the CAA discloses

Aito members upbeat but still facing post-pandemic challenges

Aito members detail upbeat outlook but voice concerns over staffing and contracting

Growth in spend with agents slows significantly in June despite lates surge

Month-on-month growth in spending with agents down from +30.1% in May to +9.9% in May to +0.1% in June, according to new data from Barclays

Jet2 plc returns to profit as package sales run ahead of 2022

Airline and operator says package and flight-only pricing has been robust despite various cost pressures

MAG records £1bn revenue as traffic nears pre-pandemic levels

In its first full-year of restriction-free travel from 1 April 2022 to 31 March 2023, the group served 54m passengers, equal to 91% of 2019/20 traffic

Luxury travel brand named among UK's fastest-growing companies

Luxtripper was the only travel brand in the top 50 of 2023 Sunday Times 100

Holiday intent strong but price hikes impacting people's plans

New figures highlight how 41% of consumers plan to take a holiday in the UK this summer, while 29% will head abroad

Airports will need to raise fees to meet sustainability goals, trade body warns

Airports body calls for increased fees to airlines saying sustainability measures are otherwise in danger

Carnival Corp to hike fares despite record bookings for future sailings

Chief executive Josh Weinstein said that the company will continue to grow capacity after reporting earnings for the second quarter of $681 million

Travel sector hit by 30% year-on-year surge in chargebacks

According to research, only 25% of companies see more than 60% of disputes awarded in their favour

Investors’ doors are 'wide open' – here’s how you can capitalise

Finance specialists suggest there is heightened investor interest in the travel sector spurred by good post-pandemic prospects

BA parent IAG eyes Portugal's Tap to open up Brazilian market

IAG boss Luis Gallego said a move for Tap would make sense from a strategic point of view, but would depend on whether the Portuguese carrier is privatised

Consumers still prioritising holiday spend despite downturn

Nationwide says average consumer will spend nearly £1,500 on holidays this year

Travel and tourism deal activity plummets year-on-year, data shows

GlobalData figures have revealed that global deal activity has plummeted by 41% year-on-year, with private equity deals being hit the hardest

Manchester Airports Group names new group chief executive

Retirement of board chair prompts reshuffle at Manchester Airports Group, which will see Ken O’Toole take over as chief executive

Travel ‘not out of woods yet’, says Tanzer as he defends Abta lobbying

Speaking at the association’s Travel Matters seminar in Westminster on Wednesday (14 June), Mark Tanzer said that despite a “steady recovery from the dark days of the pandemic”, the sector was “not out of the woods yet”.

“Many customers are still in a cost of living squeeze with a stubbornly high inflation rate keeping interest rates and mortgage costs high, and travel companies are still burdened with the debt overhang from the pandemic, at higher interest rates,” he said.

Wizz Air targets record summer traffic and return to net profit

Budget carrier returns to positive earnings and trims full-year reported loss

Not in the Guidebooks launches second agent crowdfunder

Chief executive Carol Savage has urged agents to become shareholders in the ’exciting and ambitious’ business

Councils take first step in fight to reopen Doncaster Sheffield airport

Councils agree funding to put the case for the compulsory purchase of Doncaster Sheffield airport following its closure last year

InteleTravel sales and booking values soar despite cost of living squeeze

The homeworking agency announced on Wednesday (7 June) that sales have surged 58% year-on-year while the average booking value has gone up 14%

Spending with agents and airlines continues to outpace all other sectors

Transaction growth with airlines and travel agents highest of all sectors in May, according to Barclays

Airlines call for passenger compensation 'burden' to be shared with suppliers

Despite heading for 2019 profit levels, airlines argue suppliers should in future share the consumer protection burden