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Cathay Pacific Backs Down |
Cathay Pacific has abandoned its plans to take a stake in China Eastern Airlines. Cathay Pacific had been planning on teaming up with Air China parent firm China National Aviation to try and block Singapore Airlines' bid for the carrier. Air China released a statement saying the proposed transition by its parent for China Eastern would not proceed now or in the next three months but the exact reason for the move is yet to emerge. |
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Virgin Profit Soars In 07 |
Virgin has posted a net profit increase for the 2007 financial year of 93% to $216 million, according to the airline's annual report released yesterday. Virgin carried over 15 million passengers during the 12 month period to 30 June, with a load factor of 81.2%. Virgin also incurred $23 million of pre-tax one-off expenses, with non-recurring items including preparations for the launch of new international carrier V Australia, and the purchase of 20 Embraer jets for its planned domestic growth. Virgin chairman Neil Chatfield, said the next 12 months will be a period of "steady expansion" for the airline group as its grows its Australian domestic network, enters the New Zealand domestic market for the first time, and launches V Australia. "The Company is now well placed and has again demonstrated a managed resilience among airlines which will place it in good stead to meet new competition and growth opportunities ahead," he said. Virgin's carbon emissions increased 2.1% during 2006/7 but Virgin said its efficiency has improved significantly with fuel consumption dropping 13% over the last five years. Meanwhile it was also revealed that Virgin Blue chief executive Brett Godfrey, received a 45% increase to his remuneration package in 2006/7 to just under $2 million, up from $1.37 million the previous year.
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Female Travellers Keep Curves |
Female travellers who like to workout will find benefit from a new travel pass launched by one of the largest fitness franchises in the world. Curves for Women Clubs is now offering its female members free travel passes so they can exercise in any of the 55 countries across the globe where a Curves fitness centre is located. Curves owner Kerrie Buchanan, said it used to be difficult for female travellers to connect with local people but with the rapid growth of Curves around the globe there's a growing trend amongst its members who travel to workout at a local club as a way to meet people. "Curves is fast becoming a social phenomenon connecting the millions of women worldwide who take advantage of the Curves travel pass," she said. There are more than 10,200 Curves clubs in 55 countries, including 400 in Australia, with a total of 5 million members worldwide. |
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