Chinese airline breaks record with $2.4 billion convertible bond
>> China Southern Airlines will open subscriptions for RMB 16 billion (USD 2.4 billion) of its convertible bonds, the largest deal for a non-financial firm since China Petroleum & Chemical Corp. sold RMB 23 billion of the notes in early 2011. Chinese airlines posted combined losses of almost USD 4 billion in the first half and the recovery won’t be enough to put them into the black by year-end.
Domestic demand boost for Spring Airlines
>> Shanghai-based Spring Airlines has become one of the world’s fastest growing airlines amid the novel coronavirus pandemic, thanks to China’s rapid economic and production recovery. Since early this year, the budget carrier's domestic capacity has increased 1.5 times year on year, with an average load factor above 85%. The airline has opened over 60 new routes to cap demand as domestic travel outpaced overseas journeys due to the pandemic.
Hilton reinforces presence in southern China
>> Hilton completed relocation of its Greater China South headquarters to Shenzhen, which means that the hotel chain will reinforce its strategic presence in southern China, and drive further expansion in the region, as it steadily advances towards its goal of 1,000 operating hotels in China by 2025.
Korea's No.1 beauty firm teams up with Chinese travel retailer
>> South Korea's top beauty firm Amorepacific has formed a strategic partnership with Chinese travel retailer giant China Duty Free Group. The high growth potential of the Chinese travel retail industry has been fueled by authorities support and strong domestic demand despite the COVID-19 crisis. This has subsequently driven Amorepacific to build a partnership with CDFG, ranked top in the global travel retail sales in the 1st half of 2020, with the aim of moving ahead in the global travel retail industry.
Trip.com launches new airline partner portal
>> Trip.com launched an all-new platform for airline partners. To commemorate the launch, the online travel agency hosted a live virtual happy hour event, which was attended by over 40 key industry partners in the Australia and New Zealand markets.
Tourism Fiji partners with Trip.com Group to launch pre-sale
>> Tourism Fiji in partnership with Trip.com Group to launch a destination pre-sale campaign to celebrate the 50th of Fiji Day. The campaign aims to leverage the anniversary celebration opportunity to launch the Fijian hotel pre-sale promotion on Trip.com on October 10 lasting 4 weeks, with the goal of driving sales to Fijian tourism industry partners.
Singapore, Hong Kong reach in-principle agreement of air travel bubble
>> Singapore and Hong Kong have reached an in-principle agreement to establish a bilateral air travel bubble, which will exempt travellers from quarantines or stay-home notices.