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been able to hone our outlook for 2016 and consolidate the significant improvement in our operational and financial performance.” In its 2016 third quarter, Accor said

it continued to benefit from positive trends in most of its key markets, with growth in revpar in the UK, southern Europe, central Europe, North America, Latin America and Asia-Pacific. The group’s main points of

“vigilance” continue to be Belgium and France. The latter experienced a sharp decline in demand in the third quarter, when the portion of leisure- related business is traditionally higher. The group has seen the opening of

nearly 28,000 rooms on an organic basis since the beginning of the year (up 18% compared with 2015) and predicts record growth in 2016. The group expects full-year 2016

earnings before interest and tax to amount to between €670 million and €690 million.


Norwegian Air reports new record quarterly performance

NORWEGIAN AIR Shuttle has reported its best-ever quarterly result for July, August and September. The carrier posted a net profit of

£99 million, a year-on-year boost of £16 million. The airline carried 8.58 million passengers, up 12%, achieving an average load factor of 91%, a rise of 0.6 percentage points. Net profit margins during the peak summer period rose year-on-year from 11.4% to 11.9%. Figures were helped by a 1% fall in fuel prices, which offset losses on currency rates. Growth in Spain, driven by domestic

routes, means the country is now the airline’s second-biggest market, providing 14% of passenger numbers. During the quarter, Norwegian began

Norwegian chief executive Bjorn Kjos

a Barcelona-New York service. Scandinavia still provides the bulk

of Norwegian’s sales, with Norway comprising around 31% of passenger numbers. When Sweden, Denmark and Finland are included, the total reaches around 60%. The UK provides around 8%, compared with about 7% in the third quarter of

2015. Norwegian is now Gatwick’s third-largest airline, with 3.9 million passengers a year. Additions to the fleet this year

include three long-haul Boeing 787s and 14 short-haul 737-800s. By the end of the year, another three 737s and a 787-9 will have been delivered. Norwegian’s guidance is for an 18%

growth in available seat kilometres this year, mainly from short-haul expansion. The airline said long haul “will grow in accordance with the phasing in of aircraft”, with 12 Boeing 787s by the end of 2016, but added: “Norwegian may decide to adjust capacity in order to optimise the route portfolio, depending on the development in the overall economy and in the marketplace.” Norwegian chief executive Bjorn

Kjos said: “I am pleased to report our best quarterly result ever and grateful that our loyal customers worldwide continue to fly with us.”

Jennifer Morris 020 3714 4115

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