Travel firm Thomas Cook has reached agreement with its bankers to provide it with new access to funding. Shares in the company fell 75 percent on Tuesday after it said it was in talks about increasing borrowings.

The U.S. Department of Transportation (DOT) fined Spirit Airlines $50,000 for violating federal aviation laws and the department’s rules prohibiting deceptive price advertising in air travel. DOT rules require any advertising that includes a price for air transportation to state the full price to be paid by the consumer, including all carrier-imposed surcharges.

The ground has been broken at the site of Antigua’s major new terminal, an expansion to the VC Bird International Airport, located north of Saint John’s. The new terminal is expected to bring jobs, economic growth and even greater tourist numbers to Antigua and Barbuda.

PromPerú, the Peru Export and Tourism Promotion Board, recently announced that the FutureBrand 2011-2012 Country Brand Index has indicated that Peru has moved up three spots to number 44th in the world ranking. This climb positions Peru as one of the top five Latin American countries in the general ranking.

The total active U.S. hotel development pipeline comprises 2,835 projects totaling 310,387 rooms, according to the October 2011 STR/McGraw Hill Construction Dodge Pipeline Report.

TAM S.A. recorded an operating profit (EBIT) of R$ 553.3 million in the third quarter of 2011, the equivalent to an operating margin of 16.7 percent. Excluding a non-recurring accounting gain in the period, related to the recognition of tax credits to the value of R$ 426 million, the operating income was R$ 192 million, equivalent to a 5.8 percent margin. In the same months of 2010, excluding a non-recurring gain with the reversal of the provision of the taxes registered at the time, TAM had achieved positive operating result of R$ 275.8 million, with an operating margin of 9.5 percent.