Pre-pandemic, Panama was one of the strongest performing economies in the Latin America and Caribbean region, growing at an average of 4.7 percent annually. But that wasn’t the case for its tourism sector, which remained stagnant in comparison to previous years, even with a 16 percent contribution to the gross domestic product. That outlook was supposed to change in 2020 with the appointment of a...
Boeing CEO Kelly Ortberg said Wednesday that the company would not continue to build aircraft for Chinese carriers after they returned a pair of planes. Ortberg added that the plane maker is looking for other buyers for Boeing jets if Chinese customers continue to reject them. “It’s an unfortunate situation, but we have many customers who want near-term deliveries, so we plan to redirect...
Indian full-service carrier Air India has said its plans to invest in new aircraft will depend on the government’s policy on bilateral agreements and the seat capacity being granted, CEO Campbell Wilson said this week at an aviation event in India. Last year, the airline placed an order for 470 new aircraft with Boeing and Airbus. It is also upgrading its fleet, set to retrofit more than...
Key Points Lastminute.com launched a joint venture in the UAE with MenaStar, rebranding it as lastminute.ae. The company is expanding its international presence through joint ventures and B2B partnerships. Despite financial pressure in early 2024, Lastminute.com rebounded with improved financials by the third quarter. Summary Lastminute.com has expanded its international reach by launching a...
Good morning from Skift. It’s Friday, February 7, and here’s what you need to know about the business of travel today. Expedia Group had a strong fourth quarter, with all three of the company’s core consumer brands registering bookings growth. Executive Editor Dennis Schaal provides notable takeaways from Expedia’s earnings call. CEO Ariane Gorin said Expedia would be open to artificial...
When Southwest Airlines finally began showing its flights for the first time on Google Flights, Kayak, and Expedia, it didn’t get the pop it anticipated. While Southwest went live in Google Flights and Kayak in 2024, Expedia only started showing Southwest’s flights on February 26. And that was a major factor, along with pressure from investor Elliott Management, that led Southwest to...
Clear’s previous experience vetting travelers and moving them quickly through airport security put it in an excellent position to take on the challenges of identity, health, and vaccination in the (hopefully) coming post-Covid panic world. “Cyber and privacy and data security are in our roots, but also we have a brand that’s continually communicating about privacy, data security and...
Bengaluru’s hospitality market is buzzing as two hotel acquisition deals were finalized in the city over the past few days. The two deals amounted to INR 4.85 billion ($57.8 million). SAMHI Hotels acquired Innmar Tourism and Hotels for an enterprise value of INR 2.05 billion ($24.4 million) on Friday. As part of this deal, SAMHI also acquired the 142-room Trinity Hotel in the Whitefield area of...
Listen Now Today’s edition of Skift’s daily podcast explains what Marriott was thinking when it launched its Homes & Villas unit, how CES is putting on hybrid events, and why Qantas invested heavily in a vacation package seller. Subscribe Apple Podcasts | Spotify | Youtube | RSS Episode Notes Short-term rentals have experienced a meteoric rise ever since the first rental properties became...
Hilton held a private presentation for investment analysts at the Conrad Washington D.C. near its headquarters this week, and executives presented 223 slides. For investors, a key detail was that Hilton expects to boost its adjusted EBITDA to at least $3.945 billion by 2026, or 27% higher than last year. Skift obtained the presentation, and here are assertions by Hilton executives that stood out...