City and finance

What's driving the resurgent M&A interest in the travel sector?

After the travel industry was forced to all-but shut down during the Covid-19 pandemic, Houlihan Lokey director Thomas Barnard explores the factors driving the industry’s resurgence – and renewed interest in its prospects

Youtravel extends travel blackout despite talks with possible buyer

Bed bank Youtravel has put a stop on reservations until 31 October amid talks of a possible rescue deal after parent company FTI Touristik became insolvent

Deal for The Travel Corporation to end 100 years of private, family ownership

Deal for Uniworld, Contiki and Trafalgar parent agreed with US asset manager Apollo, ending more than 100 years of private TTC ownership

Strong package pricing is helping Jet2 counter soaring cost increases

The airline and operator on Thursday (11 July) detailed a big rise in package prices last year, which it says has helped offset huge rises in oil prices and other costs – and saw it pay more commission to agents

Jet2 firms up major aircraft order as annual profits jump by a third to £520 million

Chief executive said the airline and operator’s reaction to headwinds like last year’s wildfires in Rhodes, floods in Skiathos and the August bank holiday ATC outage had contributed to its strong performance

How an app-led start-up caught the eye of agency giant Hays Travel

My Kind of Cruise founder Sefton Monk tells TTG he is keen to ’scale up’ and grow the business he launched with David Rowlinson in 2022 following investment from Hays Travel

Byway to expand into new markets after securing £5 million fresh funding

The slow travel specialist will use the cash to expand into new markets and new roles across several departments, including in technology, product and finance

Travel bucked lower spending trend during washout June, says Barclays

Consumers stayed away from retailers in June, but the travel sector was buoyed by balance payments before summer breaks, latest Barclays research finds

As a Dubliner, a stay in London's most Irish hotel felt like home

The historic London hotel offers guests all the warmth of Irish hospitality in a central location.

Thomas Cook's creditors to receive share of £280 million pay-out

The Official Receiver has said creditors will receive a share of £280 million five years after the collapse of Thomas Cook Group

Travelpack boss says agents will benefit from deal to rescue failed travel brands

London-based long-haul specialist agrees deal to acquire Infinity Media brands Infinity Tours, Infinity Cruises and Infinity Sports, and says agents will benefit from the additions

How to explain this summer's high prices to your clients

More flights and holidays are on sale this summer despite a supposed dip in demand this year, but costs remain steep for those booking an escape. Gary Noakes reports

Travel trade's top priorities for new Labour government revealed

Ahead of the general election, TTG conducted a snap poll of travel trade voting intention and objectives for the next government. James Chapple and Sarah Dennis report

Specialist operator ceases trading as Atol holder after 30 years

CAA confirms failure of Southend-based Special Pilgrimages

What does travel want – and need – from the next government?

As the country heads to the polls, TTG examines what the major parties have planned for the industry – and what the trade wants from the next government

Lufthansa Group buys into Italy's ITA Airways

Lufthansa Group has added ITA Airways to its stable after securing European Commission approval for a minority stake in the carrier

Norse Atlantic hammered by investors following latest trading update

Shares in the transatlantic start-up plunge again following update detailing pressure on fares and persistent late booking curve

Manchester Airports Group confirms £2 billion investment plan after record year

The group, which owns Stansted, Manchester and East Midlands airports, saw passenger numbers soar to new heights, along with profits and revenues

Norse Atlantic Airways to update investors on funding search

Norse Atlantic Airways will detail its financial progress next week as it seeks investment and looks for charter opportunities for its aircraft next winter

Spending on travel continuing to outpace other non-essentials – Barclays

New CEBR and Barclays research says the UK Experience Economy - including holiday purchasing - is bigger than the GDP of Morocco and growing rapidly

UK theme park could be worth £50bn+ to the economy – Universal

According to a Universal economic impact analysis, the project’s net contribution could be of around £35.1 billion over the first 20 years of operation

Youtravel extends cancellations into late July following FTI failure

Bed bank cancels all active bookings for arrivals up to and including 26 July

Saga focused on ‘sustainable’ growth as cruise sales soar

The over-50s specialist reported booked revenue is 14% up against the same period last year in a trading update on Tuesday (25 June)

Abta chief urges next government not to price out travellers with green measures

Abta chief executive Mark Tanzer has spelt out what he thinks the incoming government should do for the travel industry, warning net zero requirements must not penalise ordinary consumers