Lufthansa reported an operating profit for the first half of the year of 3 million euros, an improvement of 174 million euros over the same period a year earlier. This development reflects a robust sales growth -- group revenue climbed by 11.4 percent to 14.1 billion euros -- and positive impacts from the cost management measures.

Offshore tax havens, still reeling in the wake of the global economic crisis, are looking to Canada to help revitalize the industry. Government officials of Barbados, one popular low-tax jurisdiction, are stepping up efforts to attract Canadian investors as the Caribbean country grapples with a slowdown.

Virgin Atlantic is asking the UK government to force short haul flights to take a greater share of the tax burden as industry stakeholders continue to protest the unbalanced air passenger duty (APD).

U.S. airlines are opposing a proposal to increase airline passenger taxes as part of an effort to deal with the looming national debt limit, saying that such a tax could have a chilling effect on air travel and the economy.

Brazil Hospitality Group announces the approval by unanimous decision of the Registered Instrument of Promise of Purchase and Sale established on August 26, 2010, and amended on September 2, 2010, between BHG and Veplan Hoteis e Turismo S.A. ("Veplan"), a company in bankruptcy reorganization (Chapter 11) for the acquisition of the Hotel Rio Palace (currently operated with the "Sofitel" brand). The decision was announced yesterday.

Economic activity in the Cayman Islands has dropped for the third consecutive year, according to the 2010 Economic Report released by the Economics and Statistics Office.