The Danish-based tour operator Falk Lauritsen Rejser A/S has been acquired by the Kuoni Group with immediate effect as the company stated. The Falk Lauritsen Rejser specializes in travel to Mediterranean and Caribbean destinations, for which it is excellently established in the Danish market.

The European hotel investment market has proved that it is as strong as ever with transaction volumes reaching 9 billion euros at the half year mark, compared to 9.3 billion euros in the first half of 2006 according to a new study by Jones Lang LaSalle Hotels.

The German Federal Cartel office has approved Air Berlin’s acquisition of LTU. In March of this year Air Berlin announced its intent to acquire 100 percent of LTU International Airlines, one of Germany’s leading leisure carriers.

Air Canada, the country’s largest airline, said its second-quarter profit rose 2 percent as the company flew fuller planes.

Brazilian aircraft maker Embraer said on Wednesday second-quarter profit dropped 49 percent because of a surge in costs as it ramped up production of regional jets. Net income fell to $40.13 million from the year-earlier period.

Continuing revenue was up 12 percent from £377 million to £422 million, up 20 percent at constant currency, whilst continuing operating profit was up 5 percent from £106 million to £111 million, up 17 percent at constant currency according to the first half results to 30 June 2007 released by InterContinental Hotels Group (IHG).