AeroMexico, the only major Mexican airline left flying, is weighing whether to buy 10 planes from Boeing instead of leasing them as it expects consumer demand for air travel to increase in the near term, the company’s CEO said on Tuesday.
LAN Airlines S.A. has signed the definitive purchase agreement for the acquisition of 98.942 percent of the outstanding shares of Colombian airline Aires. Having completed the due diligence process, LAN will acquire Aires for $12 million in cash, in addition to assuming net liabilities of approximately $100 million, which includes $18 million of bank debt.
The U.S. hotel industry posted increases in all three key performance measurements during October 2010, according to data from STR. In year-over-year measurements, the industry’s occupancy was up 6.9 percent to 61.3 percent, average daily rate ended the month with a 1.2 percent increase to $100.89, and revenue per available room for the month rose 8.2 percent to $61.89.
Shareholders of British Airways (BA) and Iberia have voted in favor of a merger between the two airlines. “We’ve had a strong relationship with Iberia for more than a decade and this merger will enhance both airlines’ strategic and financial positions, creating benefits for our customers, shareholders and staff,” said Willie Walsh, BA’s chief executive.
InterContinental Hotels Group predicted “an era of unprecedented opportunity and sustained growth” for the company as it responds to favorable socio-economic trends in high-priority markets such as China, India and the Middle East. The company, which operates brands such as InterContinental, Holiday Inn, Crowne Plaza, Staybridge Suites and Candlewood Suites, believes it is “wonderfully placed” to take advantage of favorable economic trends in new and emerging markets. These include rapidly growing and shifting populations, heavy investment in infrastructure and significant GDP growth.
The U.S. Hotel Industry Leading Indicator decreased 1.1 percent during September after a slight drop of 0.5 percent during August, reports economic research firm e-forecasting.com in conjunction with STR. The U.S. Hotel Industry Leading Indicator, or HIL, is a monthly leading indicator for the U.S. hotel industry that, on average, leads the industry’s business activity four to five months in advance.