Not two months ago we were talking about expensive airfare for Thanksgiving, but now it looks like Christmas will be cheap. Cash-strapped customers have been cutting back on travel, and now airlines are trying to woo them back with specials.
Despite the financial crisis, business jets have become more and more popular. According to a study by the supplier Honeywell Aerospace, the development of the market for business jets is disproportionate.
Budget brands and cruises are thriving online in the economic downturn, according to the latest figures from Hitwise. UK Internet traffic to travel websites overall fell by 4.6 percent between September 2007 and September 2008, but hits to budget travel brands increased by 5.3 percent. The top 10 budget travel companies in the UK accounted for 7.1 percent of traffic to travel websites in September 2008, up from 6.4 percent the previous year.
Even in a highly unstable market, some foreign airlines continue to report profits. Air France-KLM reported second quarter revenues of 6.69 billion euros, up 3.2 percent; operating income of 405 million euros, despite a 35 percent rise in fuel costs; and net income of 244 million euros.
Even in a highly unstable market, some foreign airlines continue to report profits. Air France-KLM reported second quarter revenues of 6.69 billion euros, up 3.2 percent; operating income of 405 million euros, despite a 35 percent rise in fuel costs; and net income of 244 million euros.
YTB International eked out a $288,000 net profit in the third quarter of 2008, compared with $2.1 million in the year-ago third quarter. Third-quarter revenue was $42.9 million, up 7.5 percent from $39.9 million. Revenue from travel commissions and services was $8 million, up from $5.5 million. Total operating expenses rose 13 percent, from $37.7 million to $42.5 million.