Spain-based airline Iberia has announced that its regional franchise partner, Air Nostrum, is terminating its services from Madrid, in Spain, to Manchester and Glasgow, in the UK. The airline has confirmed that the service to the routes has been terminated due to lack of demand.

Caribbean Airlines, the region’s leading carrier, is now bringing Europe closer to Trinidad with the commencement of its nonstop service to Gatwick, United Kingdom, which took to the air on Friday, June 15, 2012.

Last week in Bogota, Avianca and TACA Airlines announced their official entry into Star Alliance. The airline network is the world's largest in terms of daily flights, route network, service excellence and number of airline members.

Global airlines maintained their profit forecast for 2012 on Monday but the industry was braced for Europe's debt crisis to worsen and wipe out the benefit of cheaper oil. IATA left this year's global airline profit forecast unchanged at $3 billion, or 0.5 percent of industry revenues.