The combined Group successfully reduced the pro forma seasonal loss before tax in the 6 months to April 2007 by 25.4 million euros, or 8 percent, to 293.0 million euros, according to figures released by Thomas Cook Group. The pro forma seasonal operating loss in the six months to April 2007 was reduced by 22.9 million euros, or 7 percent, to 323.1 million euros.

British Airways will be patient in its effort to acquire Spanish carrier Iberia but does not expect to raise the 3.4 billion euros offer, its chief executive said last week. British Airways is part of a consortium led by private equity firm Texas Pacific Group that has bid 3.60 euros a share for Iberia.

Although regional carriers LIAT and Caribbean Star missed their self-imposed June 15 deadline for merger completion, both carriers are confident that the deal will be finalized by the end of the month –three days from now- or shortly thereafter, at which time the two carriers are expected to operate as a single airline.

Northwest Airlines Corp. expects to make $102 million in non-ticket revenue this year from fliers who purchase seat upgrades, one-day airport club passes and more online or using self-service kiosks.

Analysts were mostly sweet on Carnival Corp.’s second quarter earnings report, despite the cruise line trimming its full-year guidance due to fuel costs. Carnival said during a conference call with analysts yesterday that it posted a $390 million profit in the quarter ended May 31, up from $380 million in the same period of 2006.

Lufthansa will not enter the bidding contest for Italian carrier Alitalia, the German airline’s Chief Executive Wolfgang Mayrhuber said. There were a number of reasons why the German airline would remain “very cautious” in its acquisition strategy, despite Italy’s decision to give potential suitors more time to bid, he said.