This Week in Travel News...
February 15, 2012
According to the Bangkok Post, it doesn't appear as though Thai Tourism will be hurt too bad by the recent events.
UTCC: Bombs' impact 'short term'
- Published: 16/02/2012 at 03:46 PM
- Online news: Economics
The bomb explosions in the Sukhumvit area on Tuesday will have only a short term impact on the tourism sector, no more than two months, according to the Economic and Business Forecasting Centre of the University of the Thai Chamber of Commerce.
Centre director Thanavath Phonvichai said on Thursday it had sought opinions from business operators, but did not provide details on how many were questioned and when.
The number of foreign tourists visiting Thailand might well drop by about five to ten per cent, or 100,000 to 200,000 people, which would mean an estimated revenue loss of five to ten billion baht. This would trim gross domestic product growth by between 0.1 and 0.2 per cent, Mr Thanavath said.
He said the survey showed that the service industry would likely be directly hit by by the bomb explosions, but it would recover quickly.
A total of 51.1 per cent of the respondents said the hotel business would be the hardest hit, followed by resort operators (20 per cent), and then restaurants, food shops and entertainment businesses.
Asked what sectors would suffer most from the explosions, 49.8 per cent of the surveyed business operators pointed to the tourism, 15.6 per cent said foreign investment in Thailand, and 13.4 per cent said investment in the Thai stock market.
Asked what risk factors could derail the country’s economy and their own businesses, the respondents said political conflict, natural disasters and investor confidence.
The director maintained his centre’s GDP growth projection for this year at between 4.5 per cent and 5.0 per cent.
September 27, 2010
Southwest to acquire AirTran
Southwest Airlines said it would acquire AirTran Holdings for about USD$1.4 billion in cash and stock in a move that will merge two of the biggest discount carriers in the US.
Southwest will buy AirTran for USD$7.69 a share, a premium of 69 percent to AirTran's Friday closing price. The deal comprises USD$3.75 a share in cash and 0.321 in Southwest's shares for each AirTran share. Taking in AirTran's existing net indebtedness and capitalized aircraft operating leases, the transaction value is about USD$3.4 billion, Southwest said in a statement.
Gary Kelly, Southwest’s chief executive said: "The acquisition of AirTran represents a unique opportunity to grow Southwest Airline's in key markets we don’t yet serve and takes a step towards positioning us for future growth."
The deal will give Southwest a presence in Atlanta, AirTran’s hub and the busiest airport in the US. It will also extend Dallas-based Southwest’s reach to Washington DC, New York and Boston.
Bob Fornaro, AirTran’s chief executive, said: "This agreement is great news for our crew members, our shareholders and the communities we serve."
Mr Fornaro is to be involved in the integration process, Southwest said.
Southwest said the deal would create "hundreds of additional low-fare itineraries for the traveling public" and would help drive down prices in the industry through tougher competition thanks to its greater scale. The airline pointed to a study by Campbell-Hill Aviation Group that said Southwest’s presence in Atlanta would stimulate more than two million new passengers and more than USD$200 million in consumer savings a year.
The airline industry is seeing a wave of consolidation as it recovers from a surge in oil prices and a drop in air travel caused by the recession.
In May, United parent UAL announced the acquisition of Continental Airlines for USD$3.17 billion in an all-stock deal.
Southwest said excluding the impact of one-time costs, the acquisition is expected to add to its pro-forma earnings per share in the first year after the closing of the deal.
(Reuters)
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DOT: Finally Full Washington Disclosure:
Truth Really isn't Acceptable
It's no secret that a lot of what goes on inside the Beltway could make the Corelone Family look virtuous. Honesty, values, and transparency on Capitol Hill are not appreciated - they get in the way of business as usual. Now, it's official policy, at least at the DOT.
Last month United Airlines reported to the DOT regarding a couple of flights that, probably due to the DOT's incompetent management of ATC upgrades, were delayed over three hours. The airline believed this was required by Secretary LaHood's "Tarmac" rules.
The DOT promptly fined United. Not for violating the rule, but for not violating it. See, the DOT determined that, although the flights were delayed over three hours, United treated the passengers properly and in accordance with the rule. But the DOT nailed United for $6,000 for "wasting" the DOT's precious time in investigating the incidents, and determining that United had complied with their stupid rules.
La Hood and his Merry Band of top DOT henchmen are an embarrassment to America. He's direct competition for what's hanging on the racks at Mens' Wearhouse. At a time when the FAA needs to be funded properly, when the air traffic control system is putting lives at risk (a 100-foot near miss at MSP last week is the latest example), and at a time when aviation needs leadership, these Bozos are showboating the public with grand pronouncements about how valuable their time is.
But, in fairness, LaHood ought to know about wasting time. He's been an expert at it for the last two years.
BoydGroup International
78 Beaver Brook Canyon Road
Evergreen, CO 80439
Phone: 303-674-2000
Fax: 303-674-9995
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September 17, 2010
United Air Kiosks, Logos Will Signal Merger's Progress
Passengers flying UAL Corp.’s United Airlines or Continental Airlines Inc. may begin to see new airport signs and shared check-in kiosks early next year as the companies merge to form the world’s largest carrier.
Bigger operational changes such as joint websites, reservations systems and decisions on airplane purchases may not happen until early 2012 when the companies, which will retain United’s name, receive a single operating certificate from the U.S. Federal Aviation Administration.
“As soon as your capability to operate as a single airline in the customer’s eye is there, then I would start using the single name, the single brand,” Brett Snyder, an aviation consultant in Long Beach, California, who writes the blog CrankyFlier.com, said in a telephone interview.
Shareholders of UAL and Continental today approved the $3.22 billion all-stock merger that was announced in May and is scheduled to close by Oct. 1. The carriers must continue to run separate airlines and operations such as customer service and flight dispatching until they receive FAA approval to operate as a single entity.
United and Continental executives are taking a cue from Delta Air Lines Inc. by using the same consulting firm, Bain & Co., that helped Delta mesh operations with Northwest Airlines Corp. starting in 2008.
Websites, Customer Service
Passengers won’t see many immediate changes when the deal closes, Continental spokeswoman Julie King said. The websites for both carriers will continue to operate as they do now, and each company will run its own customer-service and marketing activities, she said.
United and Continental have decided to keep United’s Chicago headquarters. They will keep United’s name and incorporate Continental’s globe logo on the tails when they repaint planes.
Continental Chief Executive Officer Jeff Smisek will run the company, while United CEO Glenn Tilton will become non- executive chairman.
Planning for the integration is already under way, with about 30 groups working on aspects from accounting to technology, Tilton said in June.
Delta, Northwest
It took Delta about a year and a half to fully combine operations with Northwest after their merger in October 2008.
Within a month, Delta and Northwest began aligning customer policies and fees for services such as taking pets onboard. The first Northwest airplane was painted in Delta colors that December.
Delta installed new signs with its name and logo at all major hubs by March 2009, and the companies were granted a single operating certificate from the FAA in December, which allowed them to combine pilot groups and flight procedures.
They combined websites and reservation systems in January, and finished meshing technology and dispatch systems in April.
United and Continental customers will start to see a more unified product in early 2011 as the airlines bridge airport kiosks and check-in, King said.
Eventually, “Continental and United will be able to conduct key customer processes, such as airport check-in and upgrades, for any traveler, regardless of whether they are on a Continental- or United-operated flight,” King said.
The airlines have not yet determined timing for specific moves such as changing airport-gate or ticketing-area signs, she said.
United and Continental had $29 billion in combined revenue last year. They have about 700 jets in their main fleets and employ 88,000 workers. The carriers predict as much as $1.2 billion in savings and new revenue from the merger.
To contact the reporters on this story: Mary Jane Credeur in Atlanta at mcredeur@bloomberg.net; Mary Schlangenstein in Dallas at maryc.s@bloomberg.net.
Photographer: Tim Boyle/Bloomberg
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