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Thomas Cook selling its travel business: Chinese investment fund interested

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Thomas Cook is the world’s oldest tour operator and was founded in Market Harborough in 1841 by businessman Thomas Cook. It started off with organized railway outings for members of the local temperance movement.

The travel company received approaches for parts of its business and the company as a whole, according to reports. The business put its airline up for sale in February and it said last month it would close 21 stores across the country and cut more than 300 jobs.

Chinese investment firm Fosun International could be a bidder for the company’s tour operating business, which runs a joint venture with Thomas Cook in China. It could be months before any formal offer is lodged, and there is no guarantee one will be made.

Thomas Cook now has annual sales of £9bn, 19 million customers a year and 22,000 staff operating in 16 countries.

In September, Thomas Cook said profits would be hit after the summer heat wave saw many take their holidays in the UK. It issued a second profit warning in November, when it said winter bookings were also down.

The shop closures will take the number of Thomas Cook outlets down to 566. It said a consultation with staff and unions had begun.

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Fly Leasing completes sale of a $295 million portfolio of 12 aircraft

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Fly Leasing Limited announced that it has completed the sale of a portfolio of 12 aircraft for an aggregate price of approximately $295 million. The portfolio was comprised of Airbus A320 and Boeing B737 narrow-body aircraft with an average age of over 10 years.

“This portfolio sale accomplishes several strategic objectives; including generating free cash, reducing leverage, reducing our lessee concentration, and lowering the average age of our fleet,” said Colm Barrington, CEO of FLY. “This is another example of how FLY has consistently sold aircraft from its portfolio at premiums to book value, underscoring the strong value of our fleet.”

Three sales were recognized in the fourth quarter of 2018, eight sales were completed in the first quarter of 2019, and the final sale was completed in April. The sales were at a premium to net book value. FLY will be reporting its first quarter results on May 9th, as previously announced.

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Princess Cruises returns to Tahiti in 2020

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In 2020, Princess Cruises guests will enjoy the welcoming spirit and idyllic islands of French Polynesia when the cruise line returns to Tahiti with the intimate Pacific Princess, offering a series of roundtrip cruises for the first time since 2015. Tahiti and French Polynesia cruises open for sale on April 17, 2019.

Guests will discover a trove of unspoiled treasures with sparkling lagoons and white-sand beaches available on five, 10-day Tahiti & French Polynesia departures, sailing roundtrip from Tahiti (Papeete). Every voyage includes overnight calls in Tahiti’s capital Papeete and romantic Bora Bora, as well as a late-night stay in Raiatea. Additional ports includes Huahine, Rangiroa, and Moorea. Cruise vacations begin Oct. 5, 15, 25 and Nov. 4 and 14, 2020 starting at $1,999.

“Tahiti and French Polynesia lure travelers from all over the world seeking pure unspoiled paradise, snorkeling, swimming adventures and relaxation,” said Jan Swartz Princess Cruises president. “With our return to Tahiti in 2020, Princess Cruises offers the best way to explore this remote island life aboard our intimate Pacific Princess.”

Small ship cruising on Pacific Princess with just 670 guests offers casual elegance, signature Princess Cruises features, warm welcoming service and the special camaraderie that guests always find when sailing with others who share their passion for travel.

“Princess Cruises has a long history with Tahiti and is a highly valued partner showcasing the diversity of our islands, the rich authentic local culture, and the great variety of experiences that await discovery,” notes Paul Sloan, Tahiti Tourisme, Directeur Général and CEO. “We are eagerly looking forward to next year and welcoming Pacific Princess back to The Islands of Tahiti.”

With four Grand Adventure & Crossings itineraries, Pacific Princess also offers longer sailings for guests to experience the Aloha spirit of the Hawaiian Islands or discover the treasures of South America, including Easter Island with its mysterious Moai. A 19- or 29-day Hawaii & Tahiti Grand Adventure cruise departs Vancouver Sept. 16, 2020 and a 25- or 35-day Tahiti, South America & Panama Canal Crossing departs Tahiti on Nov. 14 or 24, 2020.

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Centara launches Grand Beach sale at luxurious resorts in Thailand and Maldives

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Centara Hotels & Resorts, Thailand’s leading hotel operator, has launched the Grand Beach Sale – an enticing new promotion that offers generous discounts at its stunning collection of Centara Grand beach resorts.

Valid for bookings made between April 8-21, 2019, this limited-time promotion promises an amazing 25 percent discount on every room type at five luxurious resorts in Thailand and the Maldives.

This additional discount is ON TOP of whatever rate, promotion or package the guest books – with no hidden catches, blackout dates or restrictions! So with the Grand Beach Sale, guests are guaranteed an awesome deal.

Guests can choose to take a blissful beachfront break at Centara Grand Beach Resort Phuket, which is nestled directly on the soft sands of Karon Beach, overlooking the Andaman Sea; Centara Grand Beach Resort Samui, the idyllic island retreat on Chaweng Beach; or Centara Grand Beach Resort & Villas Krabi, the secluded seafront resort which is accessible only by boat.

Alternatively, magical Maldivian vacations are available at a choice of two private island resorts: the family-friendly Centara Grand Island Resort & Spa Maldives or the adults-only Centara Ras Fushi Resort & Spa Maldives, both of which feature a choice of spectacular beachfront and overwater villas.

Whichever Centara Grand beach resort they choose, all guests will enjoy accommodation in a spacious room, family-friendly suite or villa, plus complimentary Wi-Fi and fitness centre use throughout their stay. Up to two children can stay free-of-charge with their parents.

To take advantage of this attractive promotion, guests must be a member of CentaraThe1, the group’s highly rewarding, free-to-join loyalty program. Not a member yet? CLICK HERE to sign up instantly.

The Grand Beach Sale ends on April 21, 2019, so book your next beachfront vacation today! For more information and reservations, please CLICK HERE.

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Volaris: Passenger demand continues to be strong

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Volaris, a low-cost airline serving Mexico, the United States and Central America, reported their preliminary year to date traffic results.

In March 2019, capacity measured by ASMs (Available Seat Miles) increased by 13.5% vs last year, with demand measured by RPMs (Revenue Passenger Miles) showing a strong increase of 16.7%.  Volaris carried 1.8 M passengers in total (19.4% increase vs last year), with load factor increasing 2.3 pp to 86.6%.

During the month, Volaris started operations on ten domestic routes from key cities Mexico City, Chihuahua, Merida, Hermosillo and Tijuana; and launched an additional ten new domestic routes for sale linking existing cities: Mexico City, Guadalajara, Chihuahua, Monterrey, Durango and Queretaro, and two international routes: between Mexico Cityand El Salvador; and also, Guadalajara and El Salvador.

Volaris’ President and Chief Executive Officer, Enrique Beltranena, commenting on the results, said: “Passenger demand for Volaris continues to be strong.  We carried a record number of passengers for the month of March this year, despite last year´s figures including Holy week which will be in April this year.  In addition, our unit revenues continue to improve as a result of our new Plus fare launch.”

The following table summarizes Volaris traffic results for the month and year to date.

March
2019

March
2018

Variance

March

YTD 2019

March

 YTD 2018

Variance

RPMs (in millions, scheduled & charter)

Domestic

1,234

1,037

19.0%

3,386

2,902

16.7%

International

468

422

10.9%

1,358

1,253

8.4%

Total

1,702

1,459

16.7%

4,744

4,155

14.2%

ASMs (in millions, scheduled & charter)

Domestic

1,381

1,190

16.0%

3,971

3,446

15.2%

International

584

541

8.0%

1,733

1,609

7.7%

Total

1,965

1,731

13.5%

5,704

5,055

12.8%

Load Factor (in %, scheduled)

Domestic

89.4%

87.1%

   2.3 pp

85.3%

84.2%

1.1 pp

International

80.1%

78.2%

 1.9 pp

78.6%

77.9%

0.7 pp

Total

86.6%

84.3%

  2.3 pp

83.2%

82.2%

1.0 pp

Passengers (in thousands, scheduled & charter)

Domestic

1,469

1,212

21.2%

4,004

3,383

18.4%

International

329

294

11.8%

958

880

8.9%

Total

1,798

1,506

19.4%

4,962

4,263

16.4%

http://www.volaris.com

 

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New LCC airline set to launch

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“With Board approval for this exciting new airline granted just six months ago, seats going on sale so swiftly is a remarkable achievement,” said Peter Foster, President and CEO of Air Astana, who acknowledged the hard work of the many people at the airline who have played such a big part in shaping the new carrier and readying it for launch.

Inaugural domestic routes will be from Almaty International Airport to Taraz and Uralsk, with information at flyarystan.com.

FlyArystan, the brand-new Eurasian low fare airline from Kazakh flag carrier, Air Astana, is on the final countdown to the launch of services on May 1, 2019.

The new airline will be flying Airbus A320 aircraft configured with 180 economy seats on both routes.  Operating daily, FlyArystan will offer more than 130,000 seats on each of the routes annually.

“FlyArystan adds strength to what we can now call the Air Astana Group.  It enables us to effectively compete in the growing low-cost travel segment in our country on better than equal terms with other airlines. FlyArystan gives us the opportunity to grow the overall market by taking customers from other forms of travel and we are proud to be playing an important social and economic development role in Kazakhstan by creating this exciting new airline,” said Foster.

“FlyArystan presents a great opportunity for both Kazakhstan citizens and foreign visitors to travel more easily and comfortably across this vast country with lower air fares,” added Tim Jordan, the new head of FlyArystan. “With only a month to go before the launch of our first services to Taraz and Uralsk, we are delighted at the immediate strong market response and look forward to welcoming our first customers in May.”

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St. Maarten Heineken Regatta raises over $40,000 for local foundations

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Organizers of the St Maarten Heineken Regatta are pleased to announce that a total of $41,900 was raised during the event for local foundations. The raffle was used to drive the event’s “Green” initiatives benefiting sustainability efforts for the island and various projects from local foundations.

The St. Maarten Heineken Regatta and Heineken worked in collaboration with the Rotary Club of St Maarten, Rotary St Maarten-Mid Isle, and Motorworld, by selling raffle tickets to raise funds for a Beach Cleaning vehicle, an initiative launched last year by the Rotary.

Motorworld joined as a new presenting sponsor for the 39thSt Maarten Heineken Regatta, making a fully-loaded Hyundai Creta available to be raffled. During the week of the Regatta this car, in addition to a selection of other popular brands, were on display in the Regatta Village showcasing the wide variety of cars available for sale on the island. The display was encouraging people to purchase raffle tickets and have a chance to win the new Hyundai Creta, in support of the island’s various environmental projects.

“We are proud to be partners in this great joint-initiative by the Sint Maarten Yacht Club, St Maarten Heineken Regatta and Heineken corporate. Working together, we have successfully organized another memorable and enjoyable St. Maarten Heineken Regatta. We congratulate The Rotary clubs and everyone for their involvement and of course the winner, Mr. Soons. With the current promotions on the New 2019 Hyundai Creta, everyone can be a winner. Visit our showroom and our dedicated Sales Team can work out a great deal for you!” mentioned Tariq Amjad, Managing Director, Motorworld Group of Companies.

“The car raffle was a tremendous addition to the Regatta and this is a wonderful prize to take home. It will be a pleasure to drive the Hyundai Creta.” says winner Mr. Soons.

Rotary Club of St. Maarten’s President John Caputo says: “The Island is now one step closer to having a proper beach cleaning machine and this car raffle fundraiser almost gets us there. The Rotary Clubs of St. Maarten are working diligently to help make St. Maarten a better place to live or visit and we certainly thank all those who purchased a ticket in support of this endeavor. Even if you didn’t win the car, you have helped ensure that our beaches will remain pristine for decades to come,” said John Caputo, the President of the Rotary Club of Sint Maarten.”
President of the Rotary Club St. Maarten-Mid Isle, Denise Antrobus adds: “On behalf of the Rotary Club of St. Maarten-Mid Isle, I would like to congratulate Mr. Soons on winning the car raffle. A big thank you goes to Motorworld who sponsored the Hyundai Creta for this raffle. It was wonderful to work with this partnership of the St. Maarten Heineken Regatta and the Rotary Club of St. Maarten, I look forward to seeing the beach cleaner in use on St. Maarten.”

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Fraport 2018 Fiscal Year: Revenue and Earnings Increase Significantly

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Fraport

Boards propose dividend increase to EUR2 – Outlook remains positive
In the 2018 fiscal year (ending December 31), Fraport AG continued on
its growth path, achieving new records in revenue and earnings.
Supported by strong passenger growth at its Frankfurt Airport home
base and its Group airports worldwide, revenue climbed by 18.5
percent to nearly EUR3.5 billion. After adjusting for revenue related
to capital expenditure for expansion measures at the international
Group companies (based on IFRIC 12), revenue rose 7.8 percent to over
EUR3.1 billion. About two-thirds of this increase can be attributed
to Fraport’s international portfolio – with the airports in Brazil
and Greece, in particular, making a significant contribution.
Fraport AG’s executive board chairman Dr. Stefan Schulte said: “We
are pleased to look back on another very successful year, especially
for our Group airports around the world. Here in Frankfurt, however,
2018 presented challenges due to the constraints in European airspace
and the strong traffic demand. For the medium and long term, we are
very well positioned both at Frankfurt Airport and in our
international business. Moreover, we are laying the foundations for
further long-term growth by implementing our expansion projects.”
Revenue and earnings targets achieved
The operating result (Group EBITDA) climbed markedly by 12.5 percent
to over EUR1.1 billion. The Group result (net profit) rose even
stronger, by 40 percent to EUR505.7 million. This includes earnings
gained from the sale of Fraport’s stake in Hanover Airport, which
contributed EUR75.9 million. However, even without the positive
effects from the Hanover transaction, Fraport already achieved its
revenue and earnings targets. Operating cash flow slightly dipped by
2.0 percent to EUR802.3 million. This was mainly due to changes in
the net current assets related to the reporting date. After adjusting
for these changes, operating cash flow rose by 18.8 percent to
EUR844.9 million. In line with expectations, free cash flow fell
sharply by 98.3 percent, because of more extensive capital
expenditure for Frankfurt Airport and Fraport’s international
business, while remaining in positive territory at EUR6.8 million.
Given the positive business development, the Executive Board and
Supervisory Board will propose to the Annual General Meeting that the
dividend be raised to EUR2.00 per share for the 2018 fiscal year
(2017 fiscal year: EUR1.50 per share).
Passenger traffic rises noticeably at FRA and internationally
Serving some 69.5 million passengers, Frankfurt Airport (FRA)
achieved a new passenger record in 2018 and growth of 7.8 percent
compared to 2017.
CEO Schulte commented: “We are pleased that the airlines have
significantly expanded their flight offerings at Frankfurt Airport
for the second year in a row, thus improving connectivity and
prosperity for businesses far beyond the Frankfurt Rhine-Main Region.
Until the first pier of the new Terminal 3 opens in late 2021, we
will focus on maintaining a high level of service quality at
Frankfurt Airport – while dealing with the constraints affecting the
entire aviation industry. In particular, enhancing the situation at
the security checkpoints will be a top priority for us.”
In response to strong passenger growth, Fraport hired over 3,000 new
staff members at Frankfurt Airport in 2018. Despite the constraints
experienced at some central process points in the terminals during
peak periods – particularly at the security checkpoints – global
satisfaction of passengers with Frankfurt Airport was at 86 percent
in 2018 – thus even posting a slight increase compared to the
previous year (2017: 85 percent). To provide additional space for
security checkpoints, Fraport is investing in an extension to
Terminal 1 for installing seven extra security lanes in the summer of
2019.
Fraport’s international portfolio also posted a significant gain in
passenger traffic during 2018. In Brazil, the two airports of Porto
Alegre and Fortaleza reported a 7.0 percent increase to 14.9 million
passengers in 2018 – Fraport Brasil’s first year of operating these
airports. At the 14 Greek airports, traffic rose by almost 9 percent
to 29.9 million passengers. Antalya Airport in Turkey grew by a
significant 22.5 percent to 32.3 million travelers, a new historic
passenger record.
Outlook: Growth expected to continue
Fraport is forecasting sustained growth at all of the Group airports
in fiscal year 2019. At Frankfurt Airport, passenger volume is
expected to rise between around two and roughly three percent.
Fraport expects consolidated revenue to increase slightly up to
around EUR3.2 billion (adjusted for IFRIC 12). Group EBITDA is
expected to reach a range of around EUR1,160 million and
approximately EUR1,195 million, despite the non-recurring revenue
from the sale of Fraport’s stake in Hanover Airport. The application
of the IFRS 16 accounting standard – which changes the accounting
rules for leases – will not only make a positive contribution to
Group EBITDA, but will also lead to much higher depreciation and
amortization in fiscal year 2019. As a result, Fraport expects Group
EBIT to be in the range of about EUR685 million and around EUR725
million. The company also expects to post a Group result (net profit)
of around EUR420 million and about EUR460 million. The dividend per
share is expected to remain stable at the higher level of EUR2 for
the 2019 fiscal year.
Fraport’s four business segments at a glance
Revenue in the Aviation segment increased by 5.5 percent to slightly
over EUR1 billion. This was due partly to higher revenue from airport
charges resulting from increased passenger traffic at Frankfurt
Airport. At EUR277.8 million, segment EBITDA increased by 11.3
percent year-on-year, while segment EBIT rose 6.5 percent to EUR138.2
million.
Revenue from the Retail & Real Estate segment dropped 2.8 percent
year-on-year to EUR507.2 million. A major reason for this drop was
significantly fewer proceeds from the sale of land (EUR1.9 million in
the 2018 fiscal year versus EUR22.9 million for the same period in
2017). In contrast, parking income (+ EUR8.3 million) and retail
revenue (+ EUR0.8 million) grew. Net retail revenue per passenger
fell 7.4 percent year-on-year to EUR3.12. Segment EBITDA increased by
3.4 percent to EUR390.2 million, while segment EBIT climbed 2.8
percent to EUR302.0 million.
Revenue in the Ground Handling segment rose by 5.0 percent
year-on-year to EUR673.8 million. The strong growth in passenger
traffic resulted, in particular, in stronger revenue from ground
services and higher infrastructure charges. On the other hand,
passenger growth also led to higher personnel expenses at the
FraGround and FraCareS subsidiaries. Accordingly, segment EBITDA
declined by EUR7.0 million to EUR44.4 million. Segment EBIT dropped
considerably by 94 percent, but at EUR0.7 million still remained in
positive territory.
At nearly EUR1.3 billion, the International Activities and Services
segment significantly advanced by 58 percent compared to the previous
year. After adjusting for the EUR359.5 million in revenue related to
IFRIC 12, the segment’s revenue rose by 20.1 percent to EUR931.4
million. This revenue growth received major contributions from the
Group subsidiaries in Fortaleza and Porto Alegre (+ EUR90.9 million),
as well as Fraport Greece (+ EUR53.2 million). Segment EBITDA
increased a noticeable 28.3 percent to EUR416.6 million, while
segment EBIT jumped 40.7 percent to EUR289.6 million.
You can find our 2018 Annual Report and the presentation from the
press conference on our financial statements (as of 10:30 a.m.) on
the Fraport AG website.

MEDIA CONTACT: Fraport AG, Torben Beckmann, Corporate Communications, Media Relations, 60547 Frankfurt, Germany, E-mail: t.beckmann@fraport.de

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