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Economy

Advantage members urged to back case to recover ‘inflated’ card fees
Consortium throws weight behind civil action seeking to get money back for overcharging on card payments owing to interchange fees set by individual providers rather than the market
Shapps: New measures to speed up airport recruitment imminent
Transport secretary tells ministers government will set out new rules allowing airports to begin training staff without security clearance on Wednesday
Business leaders urge PM to make extra bank holiday permanent
Prime minister urged to make extra bank holiday on 3 June a permanent fixture
No return to profit this year, says Heathrow, despite reduced Q1 loss
Recovery under way after early year Omicron hit says UK’s largest airport, but volatility likely to continue owing to rising fuel prices, war in Ukraine and ongoing pandemic headwinds
Tens of millions tied up in soon-to-be at-risk refund credit notes – CAA
Authority warns there’s still more than £85 million in outstanding RCNs yet to be spent which will lose Atol protection at the end of September
Govt's Covid travel rules ‘disproportionate, inconsistent and opaque’
International travel ‘must not be singled out in future pandemic restrictions’, says transport select committee
SMEs at greatest risk of cyber attacks, says WTTC
Council launches new cyber-resilience report with tips to help smaller travel businesses protect themselves against the growing threat of cybercrime
Tourism records 'fastest growth' of any sector in March
According to Lloyds Bank, the sector’s activity was bolstered by holidaymakers booking more trips abroad following the easing of restrictions
Global travel M&A activity improves in Q1
A total of 289 mergers and acquisitions, private equity and venture financing deals were announced in the travel and tourism sector
Havila Voyages to 'break all ties' with Russian financier
The EU extended sanctions against GTLK, the owner of the leasing company in Hong Kong that has financed Havila Capella
Travel agents helping drive post-Covid economic recovery – ONS
Travel and tourism sectors cited as major contributors to small growth in UK GDP in February
Turkey to benefit from rise in budget-conscious travellers
Analytics company GlobalData said the finding comes after consumer confidence took a hit amid the rising cost-of-living across Europe
Virgin Atlantic 'expecting to return to profitability in 2023'
’2022 will be a year of transition as we move from survival into recovery and capitalise on the return of customer demand,’ said the carrier’s financial chief
Oasis Travel expands with acquisition of Travellers Secrets
The new store in Warrenpoint will become the Oasis brand’s seventh
'The prospect of a holiday has never been more appealing'
’With so much in the news to feel horrified by or angry about, there are still reasons to be optimistic for 2022,’ writes TTG editor Sophie Griffiths
New credit data reveals near ten-fold increase in travel spend
Average spending on holidays, hotels, flights and travel bookings up 453% year-on-year in January and February according to UK credit provider NewDay
Summer 2022 could be as strong as 2019, says Tui
Bookings for summer 2022 at 80% of summer 2019 levels, group reveals
Tui to return €700 million in Covid state aid next month
European travel giant to start paying back Covid support provided by the German state and the country’s banking sector
New Atol reform consultation this summer, CAA confirms
Paul Smith, CAA group director of consumers and markets, told the Aito general meeting the authority had received ’around 300’ responses to its initial consultation
Chancellor unveils tax and NI measures in Spring Statement
Rishi Sunak detailed the higher National Insurance threshold to parliament, and warned the war in Ukraine would likely ensure costs continue to rise
Bank of England raises interest rates again
Interest rate rise adds to householders’ financial woes
Global oil prices fall; plus, New Zealand to reopen
China’s Covid spike sees oil dip below $100, while one member of the travel industry makes national headlines by taking in two Ukrainian refugees
Delta records highest-ever sales in a single day
Delta Air Lines chief hails return of demand for air travel despite Ukraine crisis and surging fuel prices
'This is a watershed moment for the travel industry'
Abta, Advantage, SPAA and WTTC all hail government plans to end of testing and passenger locator forms from 4am on Friday (18 March)