A total of 666 deals (mergers & acquisitions (M&A), private equity and venture financing) were announced in the travel and tourism sector globally during January-November 2023, which is a year-on-year (YoY) decline of 32.7% compared to the announcement of 989 deals during the same period in the previous year, finds GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, said, “The global travel and tourism sector persistently exhibited a declining trend in deal activity throughout the year. Geo-political tensions, ongoing wars and associated macroeconomic challenges largely affected the deal-making sentiments in the sector.” An analysis of…
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Japan is keen to entice the Indian traveller with its varied landscape, geographical spread, food & beverage offerings, and natural wonders. Bunno Ryo, Executive Director, Japan National Tourism Organization (JNTO), Delhi Office, spoke to TravelBiz Monitor about their inbound numbers from India, potential source markets for 2024, and multi-faceted marketing strategies to reach the desired visitor target. 1. What are the India statistics for JNTO until September 2023 as compared to the target numbers listed for the year? The Indian market holds immense potential and significance for Japan’s tourism industry. Over the past years, we have witnessed a growing interest…
Crisis-hit SpiceJet on Tuesday announced that it will raise more than INR 2,250 crore through the issuance of shares and warrants to 64 entities, including financial institutions and FIIs, a move that will help the carrier to navigate the financial turbulence. On Tuesday, the no-frills airline also reported nearly halving its net loss to INR 428 crore in the latest September quarter compared to the year-ago period. The board of SpiceJet has approved the issuance of equity shares/equity warrants under a private placement basis to various investors, subject to requisite approvals. More than INR 2,250 crore (around USD 270 million)…
Airline operator IndiGo has announced the commencement of its inaugural flight from the soon-to-open Ayodhya Airport in Uttar Pradesh. With this, the budget carrier will be the first airline to operate flights between Ayodhya and Delhi and between Ayodhya and Ahmedabad. According to the official release, the airline’s inaugural flight from Delhi is scheduled to arrive in Maryada Purushottam Shri Ram International Airport on December 30. Subsequently, commercial operations for a direct flight between the national capital and Ayodhya will kick off from January 6, followed by tri-weekly flights between Ahmedabad and Ayodhya from January 11. With the inauguration of…
Flight Centre Travel Group (FCTG) has established an ‘AI Centre of Excellence,’ a new global division that will focus on promoting, adopting, and integrating artificial intelligence technologies into the company’s corporate divisions. The ‘AI Centre of Excellence’ will strategically harness the power of AI to revolutionise FCTG’s flagship business travel divisions Corporate Traveller and FCM, by enriching customer experiences, boosting employee productivity and more. As part of the launch, Adrian Lopez will step into a newly created role as Head of AI for Corporate, where he will lead a dedicated team of technical experts responsible for laying out the shared…
Sylvester Stallone made a special appearance at the grand opening of the Rocky Shop within the Parkway Visitor Center on December 3. This exclusive physical store is the sole destination for fans to purchase licensed apparel and souvenirs from the iconic Rocky franchise, authorized solely by Sly Stallone Shop, Sylvester Stallone’s official brand. The event, hosted collaboratively by the Visitor Center, VISIT PHILADELPHIA®, and the Philadelphia Museum of Art, included a City of Philadelphia resolution declaring December 3 as “Rocky Day” in the city. The celebration marked the 47th anniversary of the original premiere of Rocky in 1976. “This day…
Foreign visitors to Kenya will not be required to have a visa beginning January 2024, President William Ruto announced during the celebration of Jamhuri Day, or Independence Day, held in Nairobi, the capital. Ruto said on Tuesday that all foreign nationals will enter the county without a visa from January next year, a move that is expected to boost tourism, Xinhua news agency reported. “Beginning January 2024, Kenya will be a visa-free country. It shall no longer be necessary for any person from any corner of the globe to carry the burden of applying for a visa to come to…
Akasa Air is gearing up to introduce flights to key international destinations, eyeing Doha, Kuwait, Riyadh, and Jeddah within the next three to four months. Its CEO, Vinay Dube, expressed optimism about the expansion but noted a dependence on securing necessary permissions from foreign authorities. With its Boeing 737 MAX aircraft’s capabilities, Akasa Air is not limiting its reach to the Middle East alone. Dube mentioned that the airline is considering additional medium-haul international routes, including destinations like Bangladesh, Sri Lanka, Nepal, and the Maldives. Amidst these plans, Akasa Air has been hinting at a significant aircraft order to fuel…
Union Civil Aviation Minister Jyotiraditya Scindia has said that nine more airports would be constructed in Uttar Pradesh over the next two years. Replying to supplementaries during the Question Hour in the Rajya Sabha, Scindia said Prime Minister Narendra Modi-led government is giving a huge importance to the civil aviation sector. He said that only 74 airports were constructed in the first 65 years of independence, while 75 airports have been developed in the last nine years of the Modi government, taking the total number to 149. The total include airports, heliports and waterdromes. The Civil Aviation Minister said that…
Air India has unveiled brand-new collection of uniforms for cabin and cockpit crew, marking the arrival of a new age of inflight couture. Crafted by Indian celebrity couturier, Manish Malhotra, in his Mumbai atelier, the new uniforms feature an array of colours and timeless designs. The collection mirrors a rare, harmonious blend of rich Indian heritage and aesthetics with 21st-century style, elegance, and comfort. The new uniforms will be introduced in a phased manner over the next few months, starting with the entry of service of Air India’s first Airbus A350. Campbell Wilson, CEO & Managing Director, Air India, said,…
