p4 news mar5 3/3/10 19:22 Page 4
news
05.03.2010
Virgin Atlantic
‘Volatile exchange
in growth blitz
VIRGIN ATLANTIC will double the number of rates to continue’
flights it operates from Glasgow to Orlando in 2011
and begin a new Heathrow-Ghana route in May.
The decision to add capacity on the Florida
Gary Noakes.
2011. Both will significantly affect spending on
route follows the demise of Scotland’s Flyglobe- THE TRAVEL INDUSTRY will need to live with the travel.
span last year. Virgin will run a weekly flight to pound being worth less than ¤1.2 for at least the Meagher warned the industry to expect
Orlando this summer from May to September, next 12 months, a leading bank has warned. continued instability around the period of the
but will operate next year from April 2 to October Barclays Capital said the trade should expect general election, but said the economy was now
30 on Saturday and Sunday. sterling to remain weak against the euro for the through the worst two and a half years, after the
Virgin will serve the Ghanaian capital Accra next year, but, more positively, it predicts the collapse of Northern Rock. Before the collapse,
from May 24. The airline plans to fly three times pound will rise to $1.67 by next March. It also the pound had reached almost $2 and ¤1.35.
a week from London, although it has still to get predicts UK interest rates will rise to 1.5% by the “We expect a firm, if not buoyant, recovery in
government approval. The west African country end of 2010. 2010,” she said, adding that unemployment was
is a busy destination for the visiting friends and Orla Meagher, Barclays Capital’s vice-president, “close to its peak”.
relatives market, and for business travellers risk solutions group, said the pound would vary In the immediate future, she said the financial
working in the country’s oil and gas industries. in a narrow range of ¤1.14-1.19 over the next 12 crisis in Greece would affect currency rates, but
Virgin’s three weekly flights, on an Airbus months, while against the dollar the situation a bigger concern was the upcoming general
A340-300 aircraft, are expected to depart on was slightly more favourable at $1.57-1.67. Ster- election and the prospect of a hung parliament.
Thursdays, Fridays and Sundays, with return ling’s weakness against the euro means destina- This was partly the cause of this week’s dip in the
flights on Fridays, Saturdays and Mondays. tions outside the eurozone, such as Egypt and pound’s value.
It will be competing against British Airways, Bulgaria, will continue to flourish at the Speaking at the MacIntyre Hudson Challenges
which flies daily from Heathrow. Ghana Airways expense of countries like Spain. for the Travel Industry seminar in London on
also flies to Accra four times a week from Meagher also predicted UK interest rates Wednesday, Meagher added: “In our view, there
Gatwick. A Virgin spokeswoman said BA would rise 0.5% in August and another 0.5% in will be a lot of volatility around the pound with
currently had a virtual monopoly on services to the third quarter of the year, finishing at 1.5% by respect to election issues. The market views a
Ghana. “We think there is definitely room for the end of the year. Barclays Capital estimates hung parliament as making it more difficult to
three carriers,” she said. that rates will rise again to 3.5% by the end of tackle fiscal issues.”
Chile slowly gets back to business
FLIGHTS and tours to Chile are returning to clients today (Friday) or tomorrow once seats
normal following last weekend’s earthquake. become available.
Iberia and Lan have resumed services from “We rebooked them and offered accommoda-
Madrid to the Chilean capital Santiago, although tion,” said a spokeswoman. “In addition, Sarah
there is a backlog of passengers. Iberia said it Beard, our group tours manager, happened to be
had only a few spare seats on its flight to Chile on on holiday in the area and she has been running
Wednesday. around looking after our clients.”
Marquees are still being used at the airport in Cox & Kings cancelled a group tour due to
place of the damaged terminal building, and tour depart last weekend, but said its next tour, in a
operators are making arrangements for clients fortnight, would go ahead as none of the hotels
in the area. it uses in the south of the country were damaged.
A Journey Latin America spokeswoman said
the disaster showed the value of travelling with ■ For regular updates on the situation
a tour operator. It is due to fly home several in Chile, go to ttglive.com/news
04 05.03.2010
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