Thursday, 6 October 2011

Full profit forecast for International Airlines Group

There is to be good news for International Airlines Group (IAG) as they are forecast to deliver full year growth after an excellent September. Traffic in September 2011 rose by 4.3% compared to September 2011 with a 9.3% rise in first and business class travel during this period also.

IAG is forecast to make profits of €544m in 2011. Despite the strong forecasts, IAG is cautious over October which has traditionally been seen as a sluggish month.

There could be more worrying news for its transatlantic partner American Airlines as there is talk that the airline could be headed for bankruptcy. The poor results have been blamed on huge labour costs which have spiralled for the airline.

Watch this space..

Dubai duty free sales continue to boom

Amid the doom and gloom of the world economic news there is one sector that is continuing to boom, sales of luxury products in the Middle East.

Sales at Dubai Duty Free over the last nine months have hit US$1.036 billion, a rise of 16.4% compared to the same period in 2010. The sales place the retailer on track for year-end sales of an extimated US$1.45 billion.

The largest seller has been perfumes which have risen to US$150 million with sales of gold rising by 24% to reach US$118 million over nine months. Sales of liquor alseo rose by 17% to $142 million.

Colm McLoughlin, Executive Vice Chairman of Dubai Duty Free said “We have had a fantastic year so far and I am pleased that our penetration level and average spend has been consistently high. We are heading into a busy sales period for the last quarter and are optimistic that we will have a record year.”

Different world's indeed.