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Alex Cuenca

1326 posts
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La low-cost Southwest, campo de batalla entre accionistas

💸 Southwest, pioneering low-cost airline in the U.S., faces profitability issues. Influential investor Elliott Investment, led by billionaire Paul Singer, expresses dissatisfaction with CEO Robert Jordan. Demanding changes, Singer has orchestrated the departure of six directors, replacing them with four new ones, some loyal to him. Additionally, he secured a timeline for President Gary Kelly's exit next year. Southwest's market value halved over three years, exacerbated by a $1 billion loss from a computer glitch last year.
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Arabia financia la ampliación del aeropuerto de Bahamas

🏨 Saudi Arabia to invest $55 million for the expansion of North Eleuthera Airport in the Bahamas. This investment will increase the airport's capacity from 300,000 to 700,000 passengers. The deal, signed by Bahamas Deputy Prime Minister Isaac Chester Cooper, reflects Saudi Arabia's strategy to diversify its economy using its financial surplus derived from oil sales, akin to Qatar and the UAE's tourism-driven economic models.
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Hoteles de Benidorm, pendientes del programa paralelo al Imserso

🏖️ Hoteliers in Benidorm are eager for the launch of a senior program parallel to Imserso in the Valencian Community, aiming to maintain operations during the off-season and "desestacionalizar la demanda." Hosbec's secretary-general, Mayte García, sees it as an innovative social program model and encourages establishments to join once it's officially unveiled. The initiative, similar to the "Bono-viaje" post-pandemic program, targets Valencian citizens and could offer a more lucrative option compared to the official 2024/2024 Imserso program, which García deems unprofitable with negotiations only improving by about one euro against production costs estimated at over 30 euros plus VAT.
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Andalucía: la venta anticipada marca el buen verano de las agencias

🏖️ Andalucía's travel agencies report a "very positive" summer season with expectations met. Anticipated sales, especially early in the year, have slowed sales in July and August. First-semester revenues for agencies climbed nearly 10% from 2023, marking a 27% increase in the services sector. International tourist numbers in Andalucía until July 2024 reached 1,461,773, contributing to the optimistic outlook for the year's last quarter.
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Lufthansa lo quiere todo: ahora interesada en comprar Air Baltic

✈ Lufthansa, in the initial stages of purchasing Italy's Ita, has also shown interest in acquiring Portugal's TAP, Spain's Air Europa, and the main airline of the Baltic countries, Air Baltic. Air Baltic, the Latvian airline, operates across Estonia, Lithuania, and Latvia. Negotiations are in the early phases, and Air Baltic is entirely state-owned with private management. Lufthansa may face minimal competition hurdles, except for overlapping routes between Germany and Latvia, Lithuania, Estonia.
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El Turismo acapara mayor proporción que nunca de todo el empleo en España

🏖️ In July, tourism sector employment in Spain hit a record with 13.7% of all Social Security contributors, surpassing June and May figures. This represents an 11% increase compared to July 2019. Only 17.5% of tourism workers are self-employed, with the rest on payroll under collective agreements. August data is not yet available, but expectations hint at another historic month, although typically lower than July. The sector usually accounts for 11% of Spain's GDP, which is expected to have risen.
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El día más barato para volar en el mes de septiembre

✈ On September 13, travelers can save up to 30% on airfares, with a 12% decrease in flight demand leading to significant price reductions. Flights from Spain to Milan are 31% cheaper, while Gran Canaria offers round-trips for approximately 113 euros, a 25% discount. European destinations like London, Paris, and Brussels have up to 22% lower fares, and transatlantic flights to New York are 18% less expensive.
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Baleares: la hostelería rechaza la subida salarial que plantean los sindicatos

🍴 Hospitality representatives in Baleares resist wage increase demands of over 5% for 2025, as proposed by UGT and CCOO unions. Economic challenges cited include a shortened season and decreased demand leading to early nightclub closures. Key figures like Juan Miguel Ferrer and Miguel Pérez-Marsá (CAEB and Abone) and María Frontera (FEHM) emphasize the need for moderation, citing significant raises in past years: 5% in 2018 and 2019, and 3.5% to 5% between 2021 and 2023. UGT and CCOO aim for a 5% raise for 160,000 workers, a quarter of Baleares' workforce, and advocate for reduced working hours and extended employment guarantees for seasonal workers, currently at six months.
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