UPFRONT Clement Huang compiles the latest news from
www.businesstraveller.asia
FAA downgrades Thailand’s safety rating
UNITED WITHDRAWS FROM DUBAI
UNITED Airlines has announced it will stop flying between Washington- Dulles and Dubai – a decision it attributed to competition by “subsidised” Middle Eastern carriers. In a statement, it said: “Even though we have operated the Washington- Dubai route successfully for the past seven years, the entry of subsidised carriers such as Emirates and Etihad Airways into the Washington DC market has created an imbalance between supply and demand to the United Arab Emirates. As they’ve added subsidised capacity, our Washington-Dubai route has become less profitable.” The last scheduled United departure from Dubai will be on January 25, 2016.
united.com
American Airlines unveils
THAILAND’S aviation industry has been dealt a significant blow after having its International Aviation Safety Assessment status officially downgraded from Category 1 to Category 2 by the United States Department of Transportation’s Federal Aviation Administration. The announcement comes following a thorough
reassessment of the country’s civil aviation authority, which resulted in the US authority deeming that Thailand does not comply with the safety standards put forward by the International Civil Aviation Organisation.
A Category 2 rating means that Thai carriers would still be allowed to continue operating existing services to the US, but not expand or establish new routes to the country. However, no Thailand-based carrier currently operates any flights to the US.
faa.gov and
thaiairways.com
Accorhotels acquires Fairmont,
premium economy AMERICAN Airlines (AA) has confirmed that it will introduce a premium economy product later this year. AA’s new premium economy class will feature a leather seat with 38 inches of pitch, matching some of the best in the industry. It comes with larger touchscreen monitors, noise-cancelling headphones, AC power outlets and USB ports. Passengers on board will also benefit from an enhanced dining experience, with upgraded meal choices as well as complimentary spirits, beer and wine. On the ground, customers will also be able to check in up to two bags free of charge, while also enjoying priority boarding ahead of those seated in the Main Cabin (economy). Rollout of the new product is scheduled to begin in late 2016 and will be on the B787-9 aircraft – of which the airline has 22 currently on order.
aa.com
Raffles and Swissôtel IN a major strategic move, Accorhotels has acquired the Fairmont, Raffles and Swissôtel brands. The French group has signed an agreement with the Qatar Investment Authority, Kingdom Holding Company of Saudi Arabia and Oxford Properties (an Ontario Municipal Employees Retirement System) for the acquisition of FRHI Holdings, parent company of the three brands. FHRI has 155 hotels and resorts, 40 of which are under
development, in 34 countries across five continents. Its portfolio includes such high-profile properties as Raffles Singapore; The Savoy in London; Shanghai’s Fairmont Peace Hotel; The Plaza Hotel in New York; Le Royal Monceau - Raffles Paris; Fairmont San Francisco; Fairmont Banff Springs in Canada; and the Fairmont Grand Del Mar in San Diego. “This is an outstanding opportunity to add three prestigious
brands to our portfolio, and a great step forward for Accorhotels,” said Sébastien Bazin, chairman and CEO of Accorhotels. “It offers us robust and global leadership in luxury hotels, a key segment in terms of geographic reach, growth potential and profitability, for long-term value creation.” Accorhotels will pay for the acquisition by issuing 46.7 million
new Accor shares and a cash payment of US$840 million. Qatar Investment Authority and Kingdom Holding Company of Saudi Arabia are to become major shareholders, with 10.5 per cent and 5.8 per cent of the share capital respectively.
accorhotels.com
10 JANUARY/FEBRUARY 2016 Visit
www.businesstraveller.asia
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