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41. PAL Gets US$50m Credit Line to Fund Spin Off/Outsourcing
Philippine Airlines has sealed an agreement with Credit Suisse to help finance part of the P2.5-billion spin off/outsourcing program set to take effect on 1 October 2011. PAL chief finance officer Jose Gabriel Olives said the European bank agreed to lend PAL US$50-million which the airline will use to pay the separation and other transition benefits of close to 2,400 workers affect
42. Mandarin Oriental Paris to Open 28 June 2011 with Promotion
The Mandarin Oriental, Paris, located at 251 rue Saint-Honoré, in the city's first arrondissement, opens in less than two weeks. To celebrate the launch on 28 June 2011 the hotel has launched a J’aime Paris promotion for stays between 17 July and 28 August 2011, with rates from EUR 765 a night inclusive of a EUR 300 credit per room and EUR 500 credit per suite that can be redeemed
43. Visa named ‘World’s Leading Credit Card’ for Eighth Consecutive Year at World Travel Awards
Visa named ‘World’s Leading Credit Card’ for Eighth Consecutive Year at World Travel Awards.
44. Tickets Sold Out for Cathay Pacific/Credit Suisse First Boston Hong Kong Sevens 2004
Tickets Sold Out for Cathay Pacific/Credit Suisse First Boston Hong Kong Sevens 2004
45. Financing for The Peninsula Tokyo
Financing for The Peninsula Tokyo. The Hongkong and Shanghai Hotels (HSH), through its wholly-owned subsidiary, Peninsula Tokyo, has signed bilateral loans of JPY6 billion each with Australia and New Zealand Banking Group (ANZ) and Credit Agricole Corporate and Investment Bank (Credit Agricole). The 5 year term loans, maturing in 2015, are principally to refinance the original cons
46. Travel Industry Continues Upward Climb Despite US Credit Downgrade
According to data from Pegasus Solutions, global business travel net revenue grew by +12.2% in July 2011, while global leisure travel revenue increased +8.6%. The report, which includes extra analysis of daily bookings through 14 August, shows resiliency in both the corporate and leisure markets despite the US credit downgrade by the S&P on 5 August.
47. AirAsia Reduces Cost of Agency Bookings with eNett Virtual Account Numbers
eNett International and AirAsia have signed an agreement which enables agents to purchase AirAsia flights using Virtual Account Numbers (VANs) at significantly lower costs. In a first of its kind deal, agents using VANs will forego the current surcharges applied to traditional credit card payments, saving a substantial amount on fees and making VANs the cheapest form of credit card
48. Banyan Tree and Angsana Hotels launch Credit Promotion
Banyan Tree and Angsana Hotels launch Credit Promotion. Guests at Banyan Tree and Angsana hotels and resorts can now enjoy up to US$3,425 worth of hotel credits when they book a newly launched Abundance promotion. The limited-period Abundance promotion provides guests with hotel credits equivalent to the second night’s rate to help offset charges for dining occasions, spa treatment

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