Tag Archives: billion

Qantas reveals shocking AUD 1 billion six-month loss

Qantas reveals shocking AUD 1 billion six-month loss

The post Qantas reveals shocking AUD 1 billion six-month loss appeared first on TD (Travel Daily Media) Travel Daily. As the COVID-19 pandemic left a terrible horror mark in the aviation industry and proved to be a fatal blow, Qantas has now posted an underlying loss of AUD 1.1 billion (USD 858 million) in the […]

German, UK and French accommodation and restaurant sector to lose $95.7 billion in 2020

German, UK and French accommodation and restaurant sector to lose $95.7 billion in 2020

The post German, UK and French accommodation and restaurant sector to lose $95.7 billion in 2020 appeared first on TD (Travel Daily Media) Travel Daily. The year 2020 has been a rough one for the accommodation and restaurant industry. After the COVID-19 lockdown in the first months of 2020, many restaurants reopened in the second […]

Air travel down 60% in 2020, losses hit USD 370 billion

Air travel down 60% in 2020, losses hit USD 370 billion

A new report from the UN agency for civil aviation has confirmed that international passenger traffic suffered a dramatic 60% drop over 2020, bringing air travel totals back to 2003 levels. The International Civil Aviation Organisation (ICAO) reported that as seat capacity fell by 50% last year, passenger totals dropped by 60% with just 1.8 […]

Australia to lose 320,000 tourism jobs and USD 7 billion amid border shutdown

Australia to lose 320,000 tourism jobs and USD 7 billion amid border shutdown

Australia’s tourism industry is forecast to lose almost USD 7 billion and place 320,000 jobs at risk over the summer holiday period due to domestic and international border closures brought in by COVID-19. New analysis by the Tourism and Transport Forum (TTF) found that in the short period of December 24, 2020 to January 31, […]

Tourism in Spain staring at USD 120 billion loss due to COVID-19

Tourism in Spain staring at USD 120 billion loss due to COVID-19

Devastated by the pandemic, Spain’s all-important tourism sector is expected to incur losses of more than EUR 100 billion (USD 120 billion) this year, an industry body warned. If the dire prediction proves correct, it would take the sector’s annual income back to the level it was in 1995, the Exceltur tourism association said. “We […]

Carnival and Royal Caribbean lose $4.1 billion in Q3

Carnival and Royal Caribbean lose $4.1 billion  in Q3

According to its Q3 2020 earnings report, Carnival Corporation suffered a $2.9 billion loss during the period. Its revenue dropped from $6.53 billion in Q3 2019 to $31 million, a 99.5% decline for the top cruise company globally. The second largest cruise line, Royal Caribbean had a $1.2 billion loss during the same period according […]

Korean Air to buy Asiana Airlines for USD 1.6 billion

Korean Air to buy Asiana Airlines for USD 1.6 billion

South Korean flag carrier Korean Air said today it will buy out its smaller troubled rival Asiana Airlines in a USD 1.6 billion deal as it looks to consolidate with the coronavirus pandemic sending shockwaves through the global aviation sector. Worldwide travel restrictions imposed to prevent the disease from spreading have wreaked havoc on the […]

Saudi Arabia aims to attract USD 58 billion investments in tourism by 2023

Saudi Arabia aims to attract USD 58 billion investments in tourism by 2023

Saudi Arabia is aiming to attract new investments worth SAR 220 billion (USD 58 billion) by 2023, and more than SAR 500 billion (USD 133.27 billion) until 2030. This was revealed by the country’s minister of tourism Ahmad Al-Khatib during the 2021 Budget Forum. He added that investors are keen to invest in the tourism […]

Malaysia unveils 10-year tourism plan after USD 25 billion loss in 2020

Malaysia unveils 10-year tourism plan after USD 25 billion loss in 2020

Malaysia has launched a 10-year plan to restart its battered tourism sector, which is estimated to have lost more than MYR 100 billion (USD 24.61 billion) this year due to the coronavirus pandemic. The Southeast Asian country had initially targeted 30 million tourist arrivals through its ‘Visit Malaysia 2020’ programme, up from 28 million last […]

Australia braces for $1.4 billion loss due to Chinese tourism slump

Australia braces for $1.4 billion loss due to Chinese tourism slump

Absence of cashed-up visitors from China will cost Australian tourism $1.4 billion over Chinese New Year holiday period Continue reading Australia braces for $1.4 billion loss due to Chinese tourism slump at eTurboNews | Trends | Travel News Online. The post Australia braces for $1.4 billion loss due to Chinese tourism slump appeared first on […]

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