Three months after announcing one of the biggest European travel unions, TUI Tourism and First Choice Holidays have revealed details of their post-merger strategy, including more acquisitions and global expansion. The merger is expected to close September 3.

Nobeltours, the Spanish wholesaler specialized in big-time trips, has just cut a deal with Pontia Capital to share as much as fifty percent of its stocks, a move whereby the company hopes to keep on the road of growth by acting on four basic lines: the strengthening of its marketing strategy, the improvement of inner efficiency, the implementation of a well-planned sales scheme, and the development of a three-year strategic plan.

LAN Airlines S.A. and its related companies have successfully completed equity offering, raising a total of $320 million in the Chilean and United States markets.

The credit rating agency, Standard & Poors, has raised Sol Melia’s outlook from “stable” to “positive”, in view of the company’s improved financial profile registered in recent years and also, as a result of its debt reduction policy.

The combined Group successfully reduced the pro forma seasonal loss before tax in the 6 months to April 2007 by 25.4 million euros, or 8 percent, to 293.0 million euros, according to figures released by Thomas Cook Group. The pro forma seasonal operating loss in the six months to April 2007 was reduced by 22.9 million euros, or 7 percent, to 323.1 million euros.

British Airways will be patient in its effort to acquire Spanish carrier Iberia but does not expect to raise the 3.4 billion euros offer, its chief executive said last week. British Airways is part of a consortium led by private equity firm Texas Pacific Group that has bid 3.60 euros a share for Iberia.