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Boeing scraps 2019 financial forecast, halts share buybacks in wake of 737 MAX disaster

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World’s biggest aerospace corporation was forced to pull its full financial forecast for the current year due to unresolved issues surrounding Boeing’s once best-selling 737 MAX aircraft.

Boeing also announced plans to pause share buybacks, citing “a challenging time for our customers, stakeholders and the company.”

“Across the company, we are focused on safety, returning the 737 MAX to service, and earning and re-earning the trust and confidence of customers, regulators and the flying public,” Boeing Chairman and CEO Dennis Muilenburg said in a statement.

The manufacturer had previously posted a report on the first-quarter earnings that managed to fall in line with analysts’ expectations, while its revenue was slightly less than projected. Boeing’s earning per share totaled the expected $3.16 from January through March, while the revenue amounted to $22.92 billion against $22.98 billion forecasted by London-based provider of financial markets data Refinitiv.

Boeing stressed that the previous guidance didn’t reflect the impact of two crashes of the company’s flagship planes, leading to the grounding of all 737 MAX 8 jets by global regulators, lawsuits from some air carriers and a decline in market value.

According to the producer, more than 135 test and production flights of updated software for the 737 MAX have been carried out so far.

Boeing’s bestseller crashed on March 10 not far from the Ethiopian capital of Addis Ababa six minutes after takeoff on the way to Nairobi, Kenya. The tragedy, which killed 157 people, marked the second crash involving the same jet model in less than six months. In October, the same type of aircraft, operated by Indonesia’s Lion Air, crashed in the Java Sea shortly after takeoff, claiming the lives of 189 people.

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Mediterranean Resort & Hotel Real Estate Forum returns to Greece

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Now in its fifth year, the Mediterranean Resort & Hotel Real Estate Forum (MR&H) will return to Greece for the second year in succession this October. The event, hosted by Questex, is dedicated to the investment, development and operation of resorts and hotels within the Mediterranean region. This niche, but highly specialized area, comprises various elements; hotel, residential, marinas, health clubs, children’s activities, retail, sports facilities, F&B, all of which need to be carefully woven together with seamless operation to create a successful resort.

The conference will be held at the Hilton Athens on the 29-31st October 2019. A fitting venue for Hilton’s celebration of 100 years in hospitality and the continuation of the premise that the group was founded on; “travel can make the world a better place”.

The dynamic growth of tourism in Greece continues to boost investment activity throughout the country and throughout the wider Mediterranean region. Speaking at MIPIM last month, Secretary General for Tourism Policy and Development George Tziallas said; “Half of all funding under Greece’s 2016 development law has been channeled into tourism ventures, while more than 400 investment plans have been submitted in the last three years to the tourism ministry for approval.”

This statement is supported by data recently released by Horwath HTL during the International Hotel Investment Forum (IHIF) which revealed Greece is a prime investment opportunity for international hotel chains as only 1.7% of total units currently operate under an international brand. Results from the joint investor sentiment survey from Tranio and IHIF showed Greece listed as one of the European countries that is most attractive for hotel real estate investment.

Stakeholders from leading operators including Thomas Cook, Club Med and Nobu attend the event alongside investors from KSL, Starwood Capital Group and Dolphin Capital all recognizing the value of coming together as a collective to debate, converse and discuss.

Registration for MR&H 2019 is now open and delegate tickets can be purchased at the best value Early Bird rate until the end of May.

Enterprise Greece have pledged their continued support for MR&H and Grigoris Stergioulis, Chairman & CEO at Enterprise Greece said in relation to the ongoing collaboration; “Building on the success of the event last year, the positive working relationship with Questex and the significant opportunities that exist for investors in the Greek hotel market, we’re thrilled to once again partner with MR&H and look forward to welcoming the event to Greece for the second year.”

Alexi Khajavi, Managing Director of EMEA Hospitality + Travel Group, Questex said; “The tourism and hospitality prosperity that Greece is enjoying is leading to significant activity from serious investors and developers. As a conference host, our role is to facilitate these meetings, connections and interactions in an environment that is educational and energizing. With the continued support from Enterprise Greece, Hilton providing the setting, and amongst very encouraging industry data, we’re confident that MR&H will prove to be an event not to be missed for those currently active or keen to do business within the Mediterranean resort and hotel space”.

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Allegiant Air to offer scheduled service to Mexico

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Allegiant Air today filed an application with the U.S. Department of Transportation to offer scheduled service between the United States and Mexico.

Allegiant Air currently serves more than 450 domestic routes. This will be the company’s initial venture into scheduled international service.

“Unlike other U.S. carriers, Allegiant has always been laser-focused on leisure travel and providing access to affordable, non-stop flights for those who wouldn’t otherwise be able to go on vacation,” said Maury Gallagher, Allegiant chairman and chief executive officer. “Offering service to Mexico will provide a whole new array of options for travelers to discover world-class destinations that may have been previously out of reach.”

“We believe that providing scheduled service to Mexico will also be of great economic benefit, by stimulating traffic and providing additional competition in the international leisure market,” he continued. “It will not only bring exceptional value to travelers, but will also enhance both tourism and business impact in the communities we serve.”

The DOT application is the first step in the process for Allegiant to begin scheduled service to Mexico. Projected dates and locations for commencement of service will be announced at later dates as the process moves forward.

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A new Tourism potential in Tanzania: The Southern Circuit

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A new Tourism potential is about to be unlocked In Tanzania. All roads and international air routes will in the near future, be leading to the Southern circuit, as the tour operators have major plans to open new tourism revenue streams.

Complimenting the Government’s drive to transform the Southern tourism circuit, the key tourism players are currently scouting for apt partners to invest heavily in accommodations as part of a strategy to open up the area for travel.

It is understood, the Fifth Government under President Dr John Pombe Magufuli is working overtime to put up hardware infrastructures as it seeks to unleash the full economic potential of the area.

Impressed by the government move to designate Iringa as the Southern circuit hub, Tanzania Association of Tour Operators (TATO) last week deployed a delegation led by its Vice-Chairman, Mr Henry Kimambo to identify new potential members in its effort to establish a chapter in the area to cater for the entire Southern circuit.

“We want to replicate the best practices from the northern tourism circuit to Southern shred,” Mr Kimambo told the tour operators in Iringa during the engagement meeting.

He revealed that TATO plans to bring its services close to its members in Southern circuit, comprising Morogoro, Iringa, Njombe and Mbeya anytime soon.

This implies that the 36-year-old advocacy agency for a multi-billion dollar industry, with its base in northern safari capital of Arusha, will soon have a liaison office in Iringa to take care its Southern circuit members.

Mr Kimambo said that his association was aware that the Southern circuit based tour operators not only have their own different issues but also need strong ties with their northern tourism circuit peers if the tourism potential is to be unleashed.

Presenting the benefits before the Southern Circuit tour operators, TATO Chief Executive Officer, Mr Sirili Akko said lobbying and advocacy is a core service offered by his association.

“Members enjoy the conducive business environment as TATO represent a collective voice for private tour operators in lobbying and advocate towards the common goal of improving the business climate in Tanzania” Mr Akko explained.

TATO also provides unparalleled networking opportunities for its members, allowing individuals tour operators or company to connect with their peers, mentors, and other industry leaders and policymakers.

As a member, one is in the unique position to attend conventions, seminars, award dinners and other related events with like-minded professionals in the field. These events are attended by the brightest minds and are a hotbed of ideas and collaborative efforts.

“An association’s annual General meeting represents an incredible opportunity for members to meet and network with the largest gathering of their peers during the year” Mr Sirili explained.

TATO also trains its members on key issues such as labour laws, tax compliance, corporate social responsibility, conservation issues, among others, he noted.

As if that was not enough, TATO members also enjoy the service of having a platform where they channel their operational or policy related challenges to the government for a solution.

Members are also bonded together as they advocate for their peers and share their challenges and triumphs with one another, TATO CEO explained.

“Indeed, TATO provides members with a competitive advantage because they become active, informed members of their industry” Mr Sirili said, stressing that his members also get updates on all issues on tourism and related sectors by providing resources, information, and opportunities they might not have had otherwise.

Thanks to USAID PROTECT Project for building the capacity of TATO, an umbrella organization with over 300 members, for it to become an efficient advocacy agency for the tourism sector.

Project coordinator, Mr Jumapili Chenga said the scaling up membership base for TATO is one of his scheme’s components.

Iringa Region Tourism Officer, Ms Hawa Mwichaga was grateful that at the long last a strategy to unlock the Southern tourism circuit has stepped up a gear.

Tour operators from Iringa, Mbeya and other regions namely Ernest Luwala, Nancy Mfugale, Modestus Mdemu, Serafina Lanzi supported the idea of joining TATO as a concrete step to spur tourism in southern circuit.

Natural Resources and Tourism Ministry’s officer-in-charge for Southern Circuit, Ms Tully Kulanya said her zone has a great potential for tourism business.

“The Southern Parks are the perfect destinations for travelers looking for plentiful and rare wildlife in a remote area of Africa” Ms Kulanya noted.

The national parks namely Mikumi, Udzungwa, Kitulo Ruaha, as well as Selous Game Reserve, have fewer visitors and give the feeling of being all-alone. Activities include game drives in open vehicles, boat safaris, and walking safaris. These safaris include flights between the parks.

Tanzania’s earnings from tourism jumped 7.13 percent in 2018, helped by an increase in arrivals from foreign visitors, the government has said.

Tourism is the main source of hard currency in Tanzania, best known for its beaches, wildlife safaris and Mount Kilimanjaro.

Revenues from tourism fetched $2.43 billion for the year, up from $2.19 billion in 2017, Prime Minister, Mr Kassim Majaliwa said in a presentation to parliament.

Tourist arrivals totaled 1.49 million in 2018, compared with 1.33 million a year ago, Majaliwa said.

President John Magufuli’s government said it wants to bring in 2 million visitors a year by 2020.

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Dusit Princess Residences Dubai Marina opens at the end of April

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Dusit International has signed a Franchise Agreement with Al Masar Hotel Management LLC, to upgrade the former Dusit Residence Dubai Marina to the Dusit Princess Residences Dubai Marina.

Located at the Marina, a popular tourist destination and preferred residential area just off the Dubai Technology and Media Free Zone, which includes Dubai Internet City, Dubai Media City and Dubai Knowledge Village, the 146-key property is currently being refurbished and will comprise Serviced Apartments, Holiday Homes and Residential units in a choice of one, two or three-bedroom configurations.

Designed to facilitate business and leisure, the upgraded property will feature meeting facilities, a fully equipped gym, a spa, a wellness-focused restaurant serving healthy and organic foods, and a bakery.

Damac Metro and Tram Stations, the Marina Mall, and The Beach Mall are all within walking distance. Attractions such as Mall of Emirates, Ski Dubai, Ibn Battuta Mall, Emirates Golf Club, Palm Jumeirah, Jumeirah Beach Park and Wild Wadi Water Park can all be reached in 10 – 15 minutes by car. The Dubai World 2020 Expo site is also only a short drive away.

“We are delighted to sign this franchise agreement with Al Masar Hotel Management LLC for Dusit Princess Residences Dubai Marina,” said Mr Lim Boon Kwee, Chief Operating Officer, Dusit International. “The comfort and convenience of the Dusit Princess brand, and the property’s prime location, make it an attractive proposition for anyone looking for a short- or long-term base in the city, especially with the Dubai Expo 2020 coming up.”

H.E. Abdulla Alnuaimi, Chairman, Al Masar Hotel Management LLC, said, “By signing this franchise agreement we can further position the property to delight residents and guests with Dusit’s unique brand of Thai-inspired gracious hospitality. And we look forward to establishing Dusit Princess Residences Dubai as the premier place to live, stay, visit and conduct business.”

Known globally for its distinctive brand of gracious hospitality inspired by authentic Thai values, Bangkok-based Dusit International opened its first hotel in the Middle East more than 15 years ago, in Dubai. Today, the company operates five hotels across the region, including three in the GCC – namely Dusit Thani Dubai, Dusit Thani Abu Dhabi, and dusitD2 Kenz Dubai. According to its plans, Dusit will have nine hotels in operation in the GCC by the end of the year.

Dusit Princess Residences Dubai will be the third Dusit-branded property in Dubai, following Dusit Thani Dubai and dusitD2 Kenz. A fourth Dusit-branded property, Dusit Princess Rijas, is slated to open in 2020.

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North Korea abandoning tourism? Test fires weapon

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North Korean leader Kim Jong Un today witnessed the test-firing of a new type of tactical guided weapon.

The Korean Central News Agency said Chairman Kim Jong Un observed the firing of the weapon Wednesday by the Academy of Defense Science.

According to Beijing’s Global Times tabloid, North Korea wants to slow the pace of tourism as more foreigners are traveling to the country.

The agency reports that Kim said “the development of the weapon system serves as an event of very weighty significance in increasing the combat power of the People’s Army.”

The agency says Kim mounted an observation post to learn about the test-fire of the new-type tactical guided weapon and guide the test-fire.

The announcement came after reports of new activity at a North Korean missile research center and long-range rocket site where the North is believed to build long-range missiles targeting the U.S. mainland.

The White House said it was aware of the report and had no comment.

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California-based Surf Air eyes profitability in 2019

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A turbulent year for Surf Air has finally come to an end. Exciting recent updates have already resulted in massive improvements to its scheduled service and membership growth.

A recent lawsuit against Encompass Aviation, its former flight operating partner, has been settled. Under the terms of the settlement, Surf Air has regained full access to its entire fleet of branded Pilatus PC-12s, an unfortunate consequence of negotiations that caused severe disruptions to the company.

“By doubling down on our most popular routes and eliminating non-core flying we have proven route profitability and that the fundamental business model works. Our plan for 2019 is to continue to invest further into these core markets and expand access to Surf Air through new, more flexible membership product offerings,” says Surf Air Chairman & CEO Sudhin Shahani.

Recent Club Updates:

A Robust Core Schedule

Surf Air has rebuilt a core schedule and added more flights across its most important routes: Los Angeles, San Francisco, Santa Barbara, and Lake Tahoe. The company will continue to add flights as it continues to acquire more members.

The company will also add back leisure weekend destinations as it makes sense (Las Vegas, Napa, Monterey, and Palm Springs).

Best-in-Class Reliability

With the help of Advanced Air, the company’s current third-party flight operator and long-time partner, they’ve restored operational reliability to its former best-in-industry levels of over 90% completion factor.

“Advanced Air has been a critical partner during this transitional period. With their proven professional and safety record, they’re the perfect, value-aligned partner to continue to scale our business,” says Sudhin Shahani.

Flexible, Per-Seat Membership

Perhaps Surf Air’s most promising opportunities for scaling membership growth is the new Express membership, allowing flyers to buy and fly on a per-seat basis. Meaning, for the first time, less frequent flyers can enjoy the time-savings benefits of zero hassle air travel.

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Rolls-Royce Tay 611-8 engine achieves 10 million flying hours

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The Rolls-Royce Tay 611-8 engine, which entered service in 1987, recently achieved another incredible milestone by reaching 10 million flying hours in nearly 5 million flights. The engine powers a range of Gulfstream’s highly successful large-cabin business aircraft, such as the Gulfstream GIV, GIV-SP, G300 and G400, and has established a reputation for outstanding dependability, efficiency and low noise generation.

The performance of the Tay 611-8 enabled the Gulfstream GIV to revolutionise the business aviation market with its high cruising speed and the intercontinental range of about 4,300 nautical miles. Over the past three decades, the Tay 611-8 has achieved numerous records for speed and range. These achievements have been perpetuated by its successor, the Tay 611-8C, powering the Gulfstream G350 and G450. There are over 1,700 Tay 611-8 and -8C engines in service today, with many of these supported by Rolls-Royce’s market leading CorporateCare®.

The background to the first Tay order contract is part of aviation history. In December 1982 the basic details – engine price, quantity, payment terms – were written on a napkin in less than 10 minutes by Sir Ralph Robins, who at the time was the company’s Managing Director, and Allen Paulson, Gulfstream’s founder and then Chairman and CEO. The deal was formally settled in March 1983.

Dirk Geisinger, Director Business Aviation, Rolls-Royce, said: “Reaching 10 million flying hours is an impressive milestone and we are very proud of this achievement. With its legendary reliability the Tay 611-8 became the benchmark for ultra-reliable long distance business aircraft and perfectly illustrates why Rolls-Royce is the leading engine manufacturer in Business Aviation.

“The Tay family with its proven performance has been very successful for us and has propelled our market leadership in this sector. Combining this engine with our latest aftermarket programme CorporateCare Enhanced raises the bar for the whole industry by introducing uncapped troubleshooting, coverage for mobile repair team travel costs and nacelle coverage on later engine models.”

He adds: “CorporateCare Enhanced provides our customers with a global support infrastructure which includes Engine Health Monitoring, a worldwide network of Authorised Service Centres and globally distributed spare parts and engines, all managed by our dedicated 24/7 Business Aircraft Availability Centre. Our customers benefit directly from this investment in proactive care, an in most cases are prevented from missing a planned trip.”

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African Tourism Board Launch was a success: A new era just started for African Travel & Tourism

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The two arms of the African Tourism Board had their official launch event yesterday at the Cape Town International Convention Center Conference Theatre during World Tavel Market Africa.

The African Tourism Board Association and the African Tourism Board Marketing Association are joining under the brand African Tourism Board and are now seen as a new Chapter on how Africa becomes one tourism destination. Both arms have access to the “ATB friends of the media group”, and are coordinating activities and events whenever possible.

The Association is fully under African Leadership. It’s based in South Africa, and is forming an initial group of directors to work with newly appointed President Alain St. Ange from Seychelles.

On his team of supporters are Cuthbert Ncube, Regional Vice-Chair UNWTO Affiliate Membership and Chief Executive Director Kwela Fleet Management. The Hon. Minister or Tourism for the Kingdom of Eswatini, formerly Swaziland, Kwakye Donker, CEO African Tourism Partners in Ghana and South Africa, Francoise Kameni Lele, AFBS Cameron, the Hon. Minister Madam Memunatu B. Pratt, the Minister of Tourism and Cultural Affairs for Sierra Leone, among many others.

African Tourism Board Marketing Association is based in the United States and is providing overseas marketing support for Africa under the leadership of Juergen Steinmetz of the eTN Group in Hawaii, USA and Doris Woerfel in Pretoria, South Africa. Together with a team of global supporters, the marketing arm of ATB will explore new opportunities and cost-sharing projects for inbound tourism for the African Continent.

As a start at the ATB launch last night Dov Kalmann explained the potential of travelers from Israel for Africa and introduced the new African Tourism Board office in Tel Aviv.

Arjun Mukund from Delhi, India said 1.2 billion Indians are current and future potential travelers and he wanted to make sure the African Tourism Board in India will help to achieve growing interest for Indian tourists.

Additional ATB offices are planned in the United States and Germany to start with.

Chairman Juergen Steinmetz explained: “Sharing resources, going after potential niche markets, sharing costs and giving both destinations and stakeholders representation in key markets will help to raise awareness for the African continent. We like to open a window for large, medium and small businesses in a sustainable way.”

Newly appointed CEO Doris Woerfel sees huge potential for Africa from China and will be concentrating to build a broad membership base in Africa for ATB.

The launch was an action-packed event in Capetown hosted by Carol Weaving, Managing Director of Reed Exhibition Africa. She pledged the support of the World Travel Market for African Tourism Board.

Cape Town Tourism CEO Enver Duminy supported the need for an African Tourism Board in his welcome remark.

The highlight of the event was a 30-minute presentation by Dr. Peter Tarlow on security and safety. There is no tourism without security, he said in an engaging session last night. Dr. Tarlow was appointed as the new Travel & Security advisor for African Tourism Board Marketing Association. He is leading safertourism.com

The launch started with a dinner sponsored by Tony Smith of the HongKong based iFREE Group . The group also provided free ATB sim cards to everyone attending.

Professor Geoffrey Lipman introduced the African Lung initiative by video.

More information on African Tourism Board please visit www.africantourismboard.com 

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Bartlett holds discussions with Jamaica Civil Aviation Authority

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Jamaica Tourism Minister, Hon. Edmund Bartlett (third right in the photo) recently presided over a meeting with the Chairman of the Jamaica Civil Aviation Authority, Phillip Henriques, (third left) and members of the Jamaica Air Traffic Controllers Association (from right) Treasurer Maurice Smith, President Kurt Solomon and Vice President Sean Blair.

Sharing in the moment are Senior Communications Strategist in the Ministry of Tourism Delano Seiveright (left) and Chairman of the Jamaica Tourist Board John Lynch.

The group met at the Minister’s New Kingston office on April 10, 2019 to provide updates on the sector.

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