The government of Brazil may more than double the stake foreign companies can buy in domestic airlines to stimulate investment in the over-stretched industry, Defense Minister Nelson Jobim said on Thursday.
GTP Travel Group acquired Group Travel Planet and provided a substantial capital infusion to accelerate the company’s growth in the $100 billion group travel marketplace. Group Travel Planet has been the pioneer of online group travel.
Starwood Hotels & Resorts Worldwide, Inc. reported EPS from continuing operations for the first quarter of 2008 of $0.42 compared to $0.56 in the first quarter of 2007. Excluding special items, EPS from continuing operations was $0.44 for the first quarter of 2008 compared to $0.48 in the first quarter of 2007.
A 45 percent increase in aircraft fuel costs helped push AMR Corp., the parent of American Airlines, to a $328 million loss in the first quarter of 2008. American’s fuel bill was $2.05 billion in the quarter, compared with $1.41 billion a year earlier.
Marriott International, Inc. reported diluted earnings per share (EPS) from continuing operations of $0.33 in the first quarter of 2008, down 18 percent from the first quarter of 2007. The company’s EPS guidance for the 2008 first quarter, disclosed on Feb.14, 2008, totaled $0.32 to $0.36.
NCL Corp. is negotiating to sell three of its older ships, according to reports by two European cruise publications. Seatrade Insider, an online newsletter, and Lloyd’s List in the U.K. said that the Norwegian Majesty, Norwegian Dream and Pride of Aloha are in play.