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Author: paul

RCL takes Silversea stake

ROYAL Caribbean Cruises (RCL) will extend its reach into the ultra-luxury sector with its billion-dollar investment in Silversea Cruises (TD breaking news). Under a deal announced overnight, RCL will borrow US$1 billion to finance its acquisition of a 66.7% equity stake in the privately owned Silversea. “Silversea is a crown jewel, and the acknowledged leader in luxury and expedition cruising, two key markets that are poised for growth,” said RCL chairman and ceo Richard D. Fain. “Uniting our two companies presents an extraordinary opportunity to expand vacation options for guests and create revenue in strategic growth areas,” he said....

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Etihad mitigates losses

ETIHAD Airways (EY) reduced its losses in 2017 on the back of improved revenues and streamlined costs, according to figures released by the carrier. EY recorded a loss of US$1.52 billion for the 12-month period, boosting the bottom line by US$430 million on the 2016 deficit of US$1.95 billion and representing a 22% jump. Passenger revenue was up 1.9% to US$6.1 billion for the year, while cost reduction for the same period saw a recovery of 7.3%. The upswing was welcomed by the airlines’s board which said the outcome was a good result in a “pivotal” year for EY....

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Virgin to tackle churning

VIRGIN Australia has introduced new automated systems to tackle “churning” among travel agents, targetting those who repeatedly book and cancel the same flight segments. The carrier yesterday announced a new PNR Churning Analysis system which will allow it to identify reoccuring bookings in an effort to maximise its seat availability. “The repeated cancellation and rebooking of the same segment/s is considered by Virgin as churning,” the airline said in a statement to the trade. “Virgin Australia does not permit excessive churning as per the Virgin Australia GDS Booking Policy,” it said. Effective immediately, new internal system enhancements will automatically...

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Travel payment goes virtual

NEW research released by the Global Business Travel Association (GBTA) has identified five major business travel payment trends. The report shows that virtual payments are on the rise among business travellers, with 56% of US travel buyers reporting lodge cards, or central travel accounts, are being used, allowing for multiple staff member access. Regarding mobile wallets, 22% of companies said their corporate cards were already compatible with the technology, while 61% of non-users said they were interested in using mobile wallets in the future. Roughly one third of respondents admitted to being unsure about the compatibility of the digital...

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Travelmarvel Croatia

TRAVELMARVEL says its 2019 small ship cruises along the Croatian coast are selling fast, with savings of $1,000 per couple still available. An eight-day Adriatic Coast & Dalmatian Islands itinerary is priced from $3,795ppts – see p8. Source: Travel...

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