Air Berlin insolvent, breakup imminent
Air Berlin, Germany’s second-largest carrier, has filed for the German equivalent of bankruptcy, and the sale of Air Berlin parts are well underway and could come to fruition in the coming weeks.
Air Berlin flights will continue to operate because the German government extended a bridge loan of 150 million euros to the airline.
Budget airline Ryanair is calling on British airports to curb alcohol sales following sharp increases in the number of incidents involving disruptive passengers.
The carrier issued a statement Monday calling for a ban on alcohol sales before 10 a.m. and for limiting the number of drinks in bars and restaurants to a maximum of two.
The airline cited Civil Aviation Authority statistics showing a 600% increase in disruptive incidents between 2012-2016 and said most involved alcohol.
People are Booking More Luxury Cruises
Luxury travel sales are on the rise despite the fact there are still DIY travelers and “last-minute penny pinchers,” according to Cruise Planners.
An American Express representative and home-based travel agent franchise network, Cruise Planners reported that sales for luxury travel is up 35 percent within its network this year compared to the entire year during 2016.
Egypt tourism receipts almost tripled and worker remittances rose in the last three months of its fiscal year, marking another step in the country’s economic recovery from a crippling dollar shortage.
Tourism revenue rose to $1.5 billion in the fourth quarter that ended June 30, from $510 million in the same period a year ago, according to initial central bank data that it shared with Bloomberg. Full-year receipts rose 16 percent to $4.4 billion. Remittances grew 9 percent to $4.8 billion in the fourth quarter, and rose 2 percent to $17.4 billion for the year.Add to Flipboard Magazine.