The European Commission has given British Airways, American Airlines and Iberia final regulatory approval to enter into a joint business agreement on trans-Atlantic flights. The airlines anticipate that they will receive the final decision on trans-Atlantic anti-trust immunity from the U.S. Department of Transportation (DOT) shortly.
Marriott International reported second quarter 2010 net income totaled $119 million, a 42 percent increase compared to second quarter 2009 adjusted net income. Diluted EPS totaled $0.31, a 35 percent increase from adjusted diluted EPS in the year-ago quarter. On April 22, 2010, the company forecasted second quarter diluted EPS of $0.25 to $0.29.
Trump Entertainment Resorts, Inc. said it has successfully emerged from a Chapter 11 reorganization process. Upon emergence today, Trump Entertainment said it has significant new financial strength and resources, as well as a shared vision for stability and growth under a new ownership structure.
Europe travel is back, says Globus, reporting that Europe sales are up 60 percent year over year. Vacationing across the Atlantic also has become more affordable, with the company reporting the lowest prices in Europe in recent history. Both Globus and Cosmos are offering agents the chance to book 2011 Europe vacations at 2010 prices.
With all the news about companies merging, this news is a little unusual: Reuters is reporting that international hotel group Accor shareholders have cleared the French company’s plan to split into separately listed hotel and service voucher businesses to boost growth and expand abroad.
There have been several reports of recovery in the travel industry this year. Some are from tour operators like Altour or major consortia such as American Express.