LAN Airlines S.A., one of Latin America’s leading passenger and cargo airlines, announced its consolidated financial results for first quarter ended March 31, 2011. LAN makes reference to the consolidated entity, which includes passenger and cargo airlines in Latin America. All figures were prepared in accordance with International Financial Reporting Standards (IFRS) and are expressed in U.S. dollars.

Cruise operator Carnival Corp. (CCL) filed a lawsuit in a Louisiana court last week against several parties associated with the Deepwater Horizon oil rig, seeking damages related to the massive oil spill last April that polluted the Gulf of Mexico.

Ambassadors International Inc. announced April 21 that the U.S. Bankruptcy Court in Delaware approved the timeline for the proposed sale of Windstar Cruises and other assets. The sale is expected to close by May 23.

Grupo Aeromexico said that its initial public offer (IPO) through the Mexican Stock Exchange has been extremely successful. It was 100 percent primary offer. As previously announced, Aeromexico plans to use proceeds from the IPO to continue with the consolidation of its investment plan.

AMR Corporation, parent company of American Airlines Inc., on April 20 reported a net loss of $436 million for the first quarter of 2011, compared to a net loss of $505 million in the first quarter 2010. The company said it improved year-over-year results in spite of sharply rising fuel prices that increased 24 percent compared to the first quarter 2010. Including the impact of fuel hedging, AMR paid on average $2.76 per gallon for jet fuel in the first quarter of this year versus $2.23 per gallon in the first quarter 2010.

Hotel magnate Gordon “Butch” Stewart is actively and aggressively pursuing the purchase of Veranda hotel, a five star fully-inclusive 123-room residence-style resort which is located right next to his sprawling Beaches Resort and Spa, in Providenciales, Turks and Caicos Islands.