Over the past year, the various companies and fields of business that comprise the Hotusa Group reached a global turnover of 601 million euros, a figure that exceeds by 32 percent the 456.5 million euros churned out in 2005. These figures consolidate the growth of the company chaired by Amancio Lopez Seijas, who termed the balance sheet results as “frankly positive and full of hope for the future”.

The European Central Bank raised its key interest rate 25 points to 3.75 percent in an attempt to keep inflation under control and in the United Kingdom the Bank of England left rates unchanged at 5.25 percent.

The shareholders of LIAT Ltd and Caribbean Star Airlines Ltd have announced that negotiations toward merging both carriers have been finalized.

British Airways on Wednesday forecast a 5 to 6 percent rise in revenues for the financial year beginning April and said it expected costs to rise by $289.5 million. Both forecasts are more optimistic than those for this year, when revenues are expected to rise 3.25 to 3.75 percent and costs are seen jumping $772 million.

Spanish airline Iberia closed 2006 with operating earnings (excluding non-recurring income and expenses) of 22 million euros, a 4.7 percent increase from the amount posted in 2005. The EBITDAR generated for the full year was £790.5 million, up 13 percent from the level market in 2005.

Spirit Airlines, the low-cost, no-frills carrier, announced last week it has discontinued its 5 percent agent commission for bookings made through its website. The carrier also has removed revenue and segment minimums for discounted agent travel.