Record profits forecast for world’s airlines
This year is expected to be a bumper year for airlines, with record-breaking profits projected.
IATA’s latest financial figures forecast airlines to make profits of $39.4 billion this year. Revenues are on stream to be in the region of $709 billion ,with a net profit margin of 5.6 per cent.
This will make 2016 the fifth consecutive year of profit growth.
Lower oil prices, strong hedging and ancillary revenues are all contributing to the record performance.
New Airbnb tool for business travel market
Airbnb in trying to access the lucrative business travel market has introduced a new tool that allows buyers to book rooms for travellers.
Buyers will also be able to control payments and itinerary details.
Up to now the Airbnb business travel tool only allowed the person who booked to view the details and it was difficult for companies to capture details.
Airbnb also teamed up with Concur, the expenses management tool, to help travellers manage expenses on the road.
American Airlines rewards to be revenue-based
The airline that instigated frequent-flyer programmes, American Airlines, is now joining with other US carriers to change the way they reward flyers.
Up to now it was on a mileage basis and no matter what you paid the rewards were the same.
Delta and United Airlines changed their programmes in the past two years to a revenue-based system, and now AA will follow suit.
From August 1st, AAdvantage members will earn five miles per dollar spent, seven miles for Gold status members, and eight for Platinum card holders.
Elite Executive Platinum members will receive the highest reward of 11 miles per dollar spent.
"American Airlines is evolving AAdvantage to continue our tradition of having the best loyalty programme in the world by rewarding our most loyal customers with the benefits they value the most," said Andrew Nocella, American Airlines's chief marketing officer.
Ryanair Rooms seeks providers of accommodation
Two stories this week are about unlocking the value of booking accommodation. Ryanair announced the formation of Ryanair Rooms, and is looking for interested providers of all types of accommodation to submit proposals.
Ryanair already partners with Booking. com and is now looking for accommodation that can be sold at the lowest possible price. Ryanair Rooms will offer accommodation from five star hotels to hostels and home stays.
Ryanair has a car hire partnership with Cartrawler.