Aerolineas Argentinas (AA), a member of Spain-based Marsans Group, has decided to put up to 40 percent of its public capital at the Buenos Aires Stock Exchange (BASE), informed Antonio Mata, president of the company’s executive committee.

The placing of shares will be implemented gradually, beginning with a slice of 10 to 15 percent in August and September. Depending on how demand fares in the face of this move –Mr. Mata says- the number of stocks up for grabs will be augmented to 40 percent tops.

The year 2003 closed for Canada’s tourist sector with a $3.2 billion shortfall, chiefly stemming from less foreign arrivals to the country and more Canadians traveling overseas, Canada Statistics revealed.

The negative balance is by far the biggest deficit the local leisure industry has ever had over the last ten years. Experts are pointing fingers at the SARS outbreak in Asia, the war in Iraq and a larger number of traveling Canadians moving out of the country’s borders.

Cruise Line Industry Association (CLIA) members reported a record 9.52 million passengers worldwide in 2003, a 10.2% increase over 2002. North American passengers increased by 6.9%.

According to Travel Weekly, the cruise lines hit a 102.6% load factor, over the 98.6% recorded in 2002. CLIA members also reported they will introduce 12 new ships in 2004, on top of 15 in 2003 and 13 in 2002.

Thanks to a booming travel industry and lower costs in U.S. dollars, Argentine tourist authorities presented as many as 90 different projects for building hotels in the country for up to $253.4 million, this according to a report issued by the Tourism Department that indicates all those new resorts will open between this year and 2006.

The volume of direct foreign investment in Mexico fell 25.7 percent in 2003, from $14.4 billion in 2002 to $10.7 billion last year, the nation’s Department of Economy reported.

In a press release put out by that entity, foreign investment now ranks below money remittances ($13.3 billion last year) but above revenues raked in by the local travel industry ($9.5 billion).

Investment in Chile’s real estate business linked to the leisure industry was down 10.8 percent last year and the biggest chunk of projects in that span of time is “still under scrutiny,” local entrepreneurs said.

The Research Department of the National Chamber of Commerce, Services and Tourism (CNC) and the Higher Council of Tourism (CONSETUR) disclosed the outcomes of the real estate sector for 2003 in their annual joint report.