For October, Continental announced a strong 9 to 10 percent increase in revenue per available seat mile (RASM) thanks to big capacity cuts, but it warned it had already seen weakness in future bookings and November RASM would likely only increase 4 to 6 percent. Now that November results have been released, even that downgraded forecast appears optimistic. Demand is diminishing quickly, and...
Travel Industry Archive
December 2008
Deutsche Bank sues Trump over defaulted loan – Deutsche Bank Trust Co. Americas claims Donald Trump owes it $40 million after he defaulted on a $640 million loan for his Trump International Hotel & Tower in Chicago. The lawsuit, filed in New York State Supreme Court, alleges that Trump signed a personal payment guarantee in 2005. And since the bank claims Trump didn’t pay...
There was an odd ending to the long-standing case of Aloha Airlines against Mesa over the weekend. You may remember that Aloha went out of business earlier this year, but their case against Mesa was still in litigation until now. Now that it’s been resolved, Mesa is going to try to use the Aloha name for its go! subsidiary in Hawai’i. This is a very bad idea. If you haven’t...
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