Ryanair Holdings plc today (18 May) reported a full year profit of €1,002m (excl. hedge ineffectiveness), compared to €885m last year. Highlights include: • Traffic grew 4% to 149m guests. • Revenue per guest rose 6% to €57 (2% higher fares & ancillary rev. up 16%). • Over 90% of flights arrived on-time (excl. ATC […]
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The scale of disruption caused by COVID-19 to global tourism is shown in a comprehensive new report on travel restrictions from the World Tourism Organization (UNWTO). The landmark report, published at a time of unprecedented disruption for the sector, shows that almost all global destinations have imposed restrictions on travel since January 2020, including complete […]
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In its recent publication, the IMF suggests the appropriate Fiscal Policies to contain and mitigate the damage from COVID-19. In times of pandemic, fiscal policy is key to save lives and protect people. Governments have to do whatever it takes. But they must make sure to keep the receipts. So far, countries have taken fiscal actions […]
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Airbnb today announces the launch of Online Experiences, a new way for people to connect, travel virtually and earn income during the COVID-19 crisis. With communities around the world staying home to protect their own health and the health of others, people can’t pursue routine activities like going to work, exercising or pursuing a passion. […]
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Τhe European Commission invited Schengen Member States and Schengen Associated States to prolong the temporary restriction on non-essential travel to the EU until 15 May. The experience of Member States and other countries exposed to the pandemic shows the measures applied to fight the spread of the virus require more than 30 days to be effective. The […]
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The International Air Transport Association (IATA) announced global passenger traffic data for February 2020 showing that demand (measured in total revenue passenger kilometers or RPKs) fell 14.1% compared to February 2019. This was the steepest decline in traffic since 9.11 and reflected collapsing domestic travel in China and sharply falling international demand to/from and within […]
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The World Tourism Organization (UNWTO) has released a set of recommendations calling for urgent and strong support to help the global tourism sector not only recover from the unprecedented challenge of COVID-19 but to ‘grow back better’. The Recommendations are the first output of the Global Tourism Crisis Committee, established by UNWTO with high-level representatives […]
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