European travel company TUI has shared that its first-quarter loss narrowed because of a gain from the sale of TQ3 Travel Solutions. As per the information available, in the first quarter of the year, turnover in the tourism division fell slightly from €2.52 billion to €2.51 billion as customer numbers fell from 3.9 million to 3.7 million, partly due to Easter falling in the first quarter last year.

Travelocity, the online travel company, reported $2.5 billion worth of gains in shared global gross travel bookings in the first quarter of 2005, up a staggering 59 percent from 2005. The total global revenue for the quarter was $234 million, year over year growth of 59 percent. Other Travelocity global metrics for the first quarter were a 24 percent increase in air transaction revenue, a whopping 90 percent spike in non-air transaction revenue, and a 38 percent hike in total packaging revenues.

Lufthansa put in a sturdy performance in the first three months of 2006 despite record-level oil prices. In the traditionally weak first quarter, the Group result improved by 15.5 percent to €98 million. The operating result totaled €75 million, a whole lot better than the €26 million the air carrier grabbed in the first three months of 2005. Changes in the pay settlement and long-term lease agreements will save around 50 million dollars yearly.

GOL, Brazil´s low-cost airline, released last week preliminary passenger statistics for the month of April 2006. System-wide passenger traffic (RPK) increased 56 percent, while capacity (ASK) increased 50 percent y-o-y. GOL´s system load factor for the month of April 2006 was 78 percent. Domestic passenger traffic (RPK) for April climbed 52 percent, and capacity (ASK) jumped 46 percent. GOL´s domestic load factor for the month of April 2006 was 78 percent.

The Caribbean Community (CARICOM) is poised to receive assistance from the Government of South Korea to advance the Region´s Information and Communication Technology (ICT) development agenda. CARICOM and South Korea signed a Consultation and Cooperation Mechanism at the CARICOM Secretariat Headquarters in Georgetown earlier this month, formalizing bilateral cooperation between the two sides in a number of areas, including the use of ICT for the Community´s development.

Trade Officer Floyd Capitolin believes Dominica is the OECS member country best prepared for the implementation of the CARICOM Single Market and Economy (CSME), scheduled to take effect June 2006. The CSME is designed to represent a single economic space where people, goods, services and capital can move freely. This will require the harmonization and coordination of social, economic and trade policies by participating Member States.