LAN Airlines reported its consolidated financial results for the third quarter and nine-month period ended September 30, 2006. All figures were prepared in accordance with generally accepted accounting principles in Chile and are expressed in U.S dollars. According to the financial report, LAN reported net income of $51.5 million for the third quarter of 2006, compared to net income of $23.8 million in the third quarter of last year.

Starwood Hotels & Resorts Worldwide, Inc. reported EPS from continuing operations for the third quarter of 2006 of $0.71 compared to $0.18 in the third quarter of 2005. Excluding special items, EPS from continuing operations was $0.68 for the third quarter of 2006 compared to $0.58 in the third quarter of 2005. On the other hand, effective income tax rate in the third quarter of 2006 was 21.2 percent.

More airlines are slashing fuel surcharge because of the weakening oil prices. Responding to what it calls “the easing conditions of fuel markets,” Austrian Airlines is the latest airline to announce cutbacks in its fuel surcharge for all roundtrip transatlantic flights. Philippine Airlines also said it would reduce its fuel surcharge, but only on domestic travel. The airline is planning to lower fuel surcharge per roundtrip flight in late October.

So far this year, the number of tickets sold via Lufthansa’s website has risen by as much as 50 percent worldwide. Many experts ask whether this improvement has come about due to a consumer-centric attitude and streamlined CRM technology. Simpler, faster and more informative, the revamped Lufthansa website with enhanced functionalities is now up and running.

Orlando Smith, chief minister of the British Virgin Islands, discussed ways to strengthen ties between the British and United States Virgin Islands while he attended the third meeting of the Inter Virgin Islands Council (IVIC) in St Thomas last week. The Chief Minister headed a BVI delegation including permanent secretaries in the Chief Minister’s Office and Communications and Works, the Director of the BVI International Affairs Secretariat and other senior technical staff.

Bank of Nova Scotia, Canada’s third-largest lender by assets, plans to buy as much as 80 percent of Jamaica’s Dehring Bunting & Golding Ltd investment firm for as much as $80 million. Chief Executive Officer Richard Waugh explained his company is expanding in international markets where Scotiabank already has a presence.