As it continues its South American expansion, Chilean national carrier, LAN Airlines, agreed to buy Colombia's second largest airline, Aires. In a statement LAN said that low-cost Aires has a 22% market share with 22 domestic routes and 3 international destinations. Aires's fleet is comprised of 24 aircraft. The Chilean carrier is expected to pay $32.5 million for Aires.
Lan Airlines SA is Latin America’s biggest carrier by market value and acquisition of Aires will help it build up its flight operations in Colombia. According to LAN's statement, he acquisition of Aires to be completed in 30 days to 60 days.
Royal Caribbean Cruises Ltd. (RCCL) on Oct. 26 announced net income for the third quarter of $356.8 million, or $1.64 per share, compared to net income of $230.4 million, or $1.07 per share, in the third quarter last year. This represents a 55 percent increase in third-quarter earnings year-over-year.
Norwegian Cruise Line reported third-quarter profits of $93 million, an 8.6 percent increase over $85.6 million in the same period last year. Revenue was $634.1 million, compared to $550.7 million in third-quarter 2009. EBITDA for the third quarter improved 21.4 percent to $184.1 million versus $151.6 million for the same period in 2009.
American Airlines and WestJet Airlines entered into an interline agreement, which will allow American’s customers traveling to Canada and transferring to a WestJet flight to purchase a single ticket and check bags through to the final destination. The agreement provides American’s customers seamless connecting service to 25 new Canadian cities not currently served by American or American Eagle. WestJet serves a total of 31 Canadian cities and 71 destinations in 13 countries.
Carnival Corporation & plc has declared a dividend of 10 cents per share. The boards approved a record date for the quarterly dividend of Nov. 19, 2010, and a payment date of Dec. 10, 2010. Holders of Carnival Corporation common stock and Carnival plc ADSs will receive the dividend payable in U.S. dollars.
Small Luxury Hotels of the World, which recently moved its head office to central London, has seen robust and positive growth thus far in 2010 with the addition of 47 new hotels since January 2010, including additions in growth markets such as India, China and Japan. Indicators of strong growth include an increase in reservations of 16 percent year to date in comparison to this time last year and an increase in revenue of 12 percent since January 2010.