In October 2006, Air Berlin PLC once again achieved double-digit growth. The German low-cost carrier flew 13.8 percent more passengers as compared to the same month of the previous year. For October 2005, this figure amounted to 1,369,307 passengers in comparison with 1,558,885 in October 2006. In cumulative terms, for the period between January and October 2006, this accounts for a 13.4 percent increase to a total of 13,306,087 passengers.

Latin America is experiencing its “most vigorous three-year period of growth since the 1970s,” but the rate of expansion still lags behind that of competitors, and without more investment it will begin to slow down, the International Monetary Fund said last week. In its annual economic outlook for the region, the IMF also said that, despite reduced indebtedness, a recent increase in current public spending was “a significant source of concern”.

Royal Caribbean Cruises beat its Wall Street earnings estimates for the third quarter of 2006 despite an 8 percent decline in profits over the same period in 2005, the company said October 31. Net income fell to $345.4 million from $374.7 million, a loss RCCL attributed to a one-time gain in third-quarter 2005 of $44.2 million related to the redemption of its investment in First Choice Holidays. Excluding the one-time gain, RCCL said its third-quarter net income improved 12 percent over the same time last year.

Director of Economic Affairs and Public Sector Investment Planning in the St. Kitts & Nevis’ Ministry of Sustainable Development, Howard Richardson, said economic growth performance on the islands in 2005 was driven by robust growth in communications (14.8 percent), hotels and restaurants (7.5 percent), banking and insurance (7.5 percent), wholesale and retail trade (6.3 percent) and construction (5.7 percent). The construction industry in St. Kitts and Nevis contributed an average of 16.7 percent to the Gross Domestic Product (GDP) between 2001 and 2005, while the hotels and restaurants sectors in 2003 and 2004, averaged 30.6 percent over this two year period.

Wyndham Worldwide Corporation, one of the world’s premier hospitality companies, announced last week results for the third quarter of the ongoing year. Revenue posted a double-digit increase, compared to the third quarter of 2005, with strong top-line growth across the company’s three businesses –Lodging, Vacation Exchange and Rental, and Vacation Ownership.

The sale of London City Airport to a US-led consortium will increase the volume of business travelers to London’s eastside, and directly impact on ExCeL London’s profile in International markets according to the venue’s CEO, Jamie Buchan. The Docklands airport was put up for sale earlier this year by Irish owner Dermot Desmond and an agreement has been signed with a consortium comprising AIG Financial Products Corp and Global Infrastructure Partners.