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	<title>TnHGlobal &#187; TnHGlobal | Jazeera Airways Posts Strong  3Q 2024 Financial Performance</title>
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		<title>Jazeera Airways Posts Strong  3Q 2024 Financial Performance</title>
		<link>https://www.tnhglobal.com/jazeera-airways-posts-strong-3q-2024-financial-performance/</link>
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		<pubDate>Thu, 07 Nov 2024 06:10:15 +0000</pubDate>
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		<description><![CDATA[<p>66.1% increase in 3Q 2024 net profit at KD 11.6 million, passenger numbers grow to 1.4 million 9M 2024 net profit up 8.2% to KD 14.4 million Jazeera Airways today</p>
<p>The post <a rel="nofollow" href="https://www.tnhglobal.com/jazeera-airways-posts-strong-3q-2024-financial-performance/">Jazeera Airways Posts Strong  3Q 2024 Financial Performance</a> appeared first on <a rel="nofollow" href="https://www.tnhglobal.com">TnHGlobal</a>.</p>
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				<content:encoded><![CDATA[<ul>
<li style="text-align: left;"><em>66.1% increase in 3Q 2024 net profit at KD 11.6 million, passenger numbers grow to 1.4 million</em></li>
<li style="text-align: left;"><em>9M 2024 net profit up 8.2% to KD 14.4 million</em></li>
</ul>
<p>Jazeera Airways today announced a strong set of financial results for the third quarter of 2024, achieving a net profit of KD 11.6 million—and posting a 66.1% increase compared to the same period last year. Group operating revenue also saw growth, reaching KD 64.6 million, reflecting a 5.7% increase.</p>
<p>Fueled by strong summer travel demand, passenger traffic grew to 1.4 million, representing a 1.8% increase from 3Q 2023, with load factors at 80.6%. The increased passenger numbers and passenger mix led to an 5.8% revenue increase at Jazeera Terminal 5 (T5).</p>
<p><a href="http://www.tnhglobal.com/wp-content/uploads/2024/11/Performance.-Highlights-Q3-2024-FINAL.jpg"><img class="alignnone size-full wp-image-39761" src="http://www.tnhglobal.com/wp-content/uploads/2024/11/Performance.-Highlights-Q3-2024-FINAL.jpg" alt="Performance. Highlights Q3 2024 - FINAL" width="1131" height="1600" /></a><br />
Jazeera Airways&#8217; performance for the nine months of 2024 demonstrates continued momentum, with operating revenues climbing 2.9% to KD 163.5 million. EBIT rose by 14.5% to KD 20.7 million, while passenger traffic for the nine-month period reached 3.7 million, a 3.9% increase, with a load factor of 78.1%.</p>
<p><strong>Financial and Operational Highlights</strong></p>
<table style="height: 227px;" width="993">
<tbody>
<tr>
<td width="300"><strong><em>3Q 2024 </em></strong></p>
<p>◆      Operating revenue: KD 64.6 million, up 5.7% from 3Q 2023</p>
<p>◆       EBIT: KD 12.7million, up 45.4% from 3Q 2023</p>
<p>◆      Net profit: KD 11.6 million, up 66.1% from 3Q 2023</p>
<p>◆      Passengers: 1.4 million, up 1.8% from 3Q 2023</p>
<p>◆      Load factor: 80.6%</td>
<td width="300"><strong><em>9M 2024</em></strong></p>
<p>◆      Operating revenue: KD 163.5 million, up 2.9% from 9M 2023</p>
<p>◆      EBIT: KD 20.7 million, up 14.5% from 9M 2023</p>
<p>◆      Net profit: KD 14.4 million, up 8.2% from 9M 2023</p>
<p>◆      Passengers: 3.7 million, up 3.9% from 9M 2023</p>
<p>◆      Load factor: 78.1%</td>
</tr>
</tbody>
</table>
<p>Marwan Boodai, Chairman of Jazeera Airways, said: &#8221; Our results for the third quarter of this year reflect our unwavering commitment to enhancing connectivity through Kuwait&#8217;s air hub and supporting the local economy. By expanding our network and transforming our service offerings, we are not only ensuring sustained growth for Jazeera Airways but also contributing to the broader Kuwait aviation story and making travel more affordable and accessible. We are excited about the future as we continue on this growth trajectory, connecting more destinations and providing valuable services that benefit both our passengers and the community.”</p>
<p><strong>Third Quarter 2024 – Operational Review</strong></p>
<p>Jazeera Airways concluded the third quarter of 2024 with one of the busiest summers on record, achieving significant milestones in both passenger numbers and flights handled. In early July, the airline expanded its fleet to 24 aircraft with the addition of a new plane, enhancing its capacity to meet the rising travel demand. Jazeera’s On Time Performance (OTP) also grew from 65% in 3Q 2023 to 80% in 3Q 2024.</p>
<p>In a continued effort to elevate the customer experience, Jazeera introduced a selection of new meals and upgraded its existing menu, ensuring passengers enjoy a diverse and satisfying dining experience during their travels.</p>
<p>Despite facing geopolitical challenges and a major global IT outage, Jazeera Airways maintained its focus on safety and operational excellence, successfully navigating these hurdles to deliver reliable service to its passengers.</p>
<p><strong>Outlook for 2024</strong></p>
<p>Starting from this winter, Jazeera Airways is operating year-round flights to Larnaca and Sharm El Sheikh.</p>
<p>The airline has also restarted flights to Ahmedabad and Thiruvananthapuram and will be connecting with Bhairahawa very soon.</p>
<p>While the outlook for the rest of the year is positive, it is also contingent on the geopolitical situation in the region.  By sustaining the current momentum, Jazeera Airways is set to expand further and transform the business in the coming future.</p>
<p>The post <a rel="nofollow" href="https://www.tnhglobal.com/jazeera-airways-posts-strong-3q-2024-financial-performance/">Jazeera Airways Posts Strong  3Q 2024 Financial Performance</a> appeared first on <a rel="nofollow" href="https://www.tnhglobal.com">TnHGlobal</a>.</p>
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		<title>Oceania’s Travel &amp; Tourism Sector Could Boost Region&#8217;s Economy by US$112BN Over the Next Decade</title>
		<link>https://www.tnhglobal.com/oceanias-travel-tourism-sector-could-boost-regions-economy-by-us112bn-over-the-next-decade/</link>
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		<pubDate>Fri, 11 Oct 2024 06:14:57 +0000</pubDate>
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		<description><![CDATA[<p>Regional Travel &#38; Tourism to unlock its economic and social potential if key actions are taken Perth, Australia:  A new report by the World Travel &#38; Tourism Council (WTTC) reveals</p>
<p>The post <a rel="nofollow" href="https://www.tnhglobal.com/oceanias-travel-tourism-sector-could-boost-regions-economy-by-us112bn-over-the-next-decade/">Oceania’s Travel &#038; Tourism Sector Could Boost Region&#8217;s Economy by US$112BN Over the Next Decade</a> appeared first on <a rel="nofollow" href="https://www.tnhglobal.com">TnHGlobal</a>.</p>
]]></description>
				<content:encoded><![CDATA[<p style="text-align: center;"><em>Regional Travel &amp; Tourism to unlock its economic and social potential if key actions are taken</em></p>
<p><strong>Perth, Australia:</strong>  A new report by the World Travel &amp; Tourism Council (<a href="http://www.wttc.org">WTTC</a>) reveals that Oceania’s Travel &amp; Tourism sector could inject an additional US$112BN to the region’s economy by 2034, bringing the total contribution to a record-breaking US$ 336BN.</p>
<p>According to the report, in collaboration with VFS Global and launched today at WTTC’s 24<sup>th</sup> Global Summit in Perth (Boorloo), Western Australia, this boost could also support an extra 1.1 million jobs, raising the total employment in the region supported by Travel &amp; Tourism to 3.5 million by 2034.</p>
<p>The report, “Unlocking Opportunities for Travel &amp; Tourism Growth in Oceania”, outlines the transformative potential of the region’s sector if strategic investments are made.</p>
<p>According to the global tourism body, Oceania, a region which includes Australasia, Melanesia, Micronesia, and Polynesia, could become a global leader in sustainable travel, while significantly boosting its economy.</p>
<p>However, unlocking this economic and social boost requires targeted action in a number of key areas. These include:</p>
<ul>
<li>Investing in sustainable infrastructure to mitigate and adapt to the impacts of climate change and enhancing connectivity across the region</li>
<li>Enhancing air connectivity</li>
<li>Streamlining visa processes</li>
<li>Promoting eco-friendly tourism practices that protect Indigenous communities</li>
</ul>
<p>For this growth to be realised, the report also advocates for a comprehensive policy package to include expanding airports across the region and developing renewable energy sources for tourism infrastructure.</p>
<p>Streamlining visa facilitation is also critical to unlocking this potential growth and would allow for a more seamless travel experience between Pacific islands.</p>
<p>VFS Global, a world leader in innovative visa solutions, is well-positioned to support these efforts by enabling more efficient visa processes, which could drive increased multi-country travel across the region.</p>
<p>Julia Simpson, WTTC President &amp; CEO, said: <em>“</em>Oceania has an unparalleled opportunity to grow its Travel &amp; Tourism sector in a way that not only drives economic growth but sets the standard for sustainability.</p>
<p>“By investing in climate-resilient infrastructure and supporting Indigenous communities, the region could become a global leader in eco-conscious, inclusive tourism.”</p>
<p>Zubin Karkaria, Founder and Chief Executive Officer, VFS Global Group, said: “We are delighted and honoured to collaborate with WTTC on this comprehensive report that highlights the immense potential of the travel and tourism industry in Oceania.</p>
<p>“As the world’s leading outsourcing and technology service specialist, VFS Global works with 69 governments worldwide with a presence in over 150 countries. Since establishing our presence in the Oceania region in 2008, we are now the trusted partner of 26 governments, serving 15 cities across 8 countries in the region.</p>
<p>“VFS Global is committed to playing a pivotal role in harnessing the region&#8217;s potential, along with upskilling the workforce, a crucial component in the tourism sector. Together, we aim to unlock new opportunities and support long-term resilience and success of the sector.”</p>
<p>Sustainability is central to the region’s long-term success.</p>
<p>The report highlights the need for eco-friendly infrastructure, including renewable energy solutions for resorts and climate-adaptive projects, which will not only reduce the sector’s environmental footprint, but also attract the growing market of environmentally conscious travellers.</p>
<p>Indigenous-led tourism is also critical in this transition, providing authentic cultural experiences while ensuring local communities benefit directly from tourism revenue.</p>
<p><strong>A Look at 2024 </strong></p>
<p>By the end of this year, Travel &amp; Tourism in Oceania is forecast to grow by 16.5% above pre-pandemic levels to reach US$224 billion, and employment supported by the sector is expected to exceed pre-pandemic figures by 4.8%, employing 2.3 million people.</p>
<p>However, international visitor spending is projected to remain 4% below 2019 levels, with a full recovery not expected until 2025.</p>
<p><strong>To read the report in full, please visit WTTC Research Hub.</strong></p>
<p>The post <a rel="nofollow" href="https://www.tnhglobal.com/oceanias-travel-tourism-sector-could-boost-regions-economy-by-us112bn-over-the-next-decade/">Oceania’s Travel &#038; Tourism Sector Could Boost Region&#8217;s Economy by US$112BN Over the Next Decade</a> appeared first on <a rel="nofollow" href="https://www.tnhglobal.com">TnHGlobal</a>.</p>
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		<title>Red Sea Global’s fourth Annual Sustainability Report cements position as leader in regenerative tourism</title>
		<link>https://www.tnhglobal.com/red-sea-globals-fourth-annual-sustainability-report-cements-position-as-leader-in-regenerative-tourism/</link>
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		<pubDate>Thu, 05 Sep 2024 07:33:23 +0000</pubDate>
		<dc:creator><![CDATA[TnH Global]]></dc:creator>
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		<description><![CDATA[<p>The developer is well on track to deliver a net conservation benefit of 30% by 2040 Red Sea Global (RSG), the developer behind regenerative tourism destinations The Red Sea and</p>
<p>The post <a rel="nofollow" href="https://www.tnhglobal.com/red-sea-globals-fourth-annual-sustainability-report-cements-position-as-leader-in-regenerative-tourism/">Red Sea Global’s fourth Annual Sustainability Report cements position as leader in regenerative tourism</a> appeared first on <a rel="nofollow" href="https://www.tnhglobal.com">TnHGlobal</a>.</p>
]]></description>
				<content:encoded><![CDATA[<p style="font-weight: 400;"><strong><em>The developer is well on track to deliver a net conservation benefit of 30% by 2040</em></strong></p>
<p style="font-weight: 400;">Red Sea Global (RSG), the developer behind regenerative tourism destinations The Red Sea and AMAALA, has announced the release of its fourth Annual Sustainability Report, publicly disclosing RSG’s and its subsidiaries’ key commitments and progress toward ESG goals. The report demonstrates that RSG is firmly on track to meet its principal objective of delivering a net conservation benefit of 30% by 2040.</p>
<p><a href="http://www.tnhglobal.com/wp-content/uploads/2024/09/red.jpg"><img class="alignnone size-full wp-image-39690" src="http://www.tnhglobal.com/wp-content/uploads/2024/09/red.jpg" alt="red" width="2480" height="819" /></a>RSG’s 2023 Annual Sustainability Report, which discloses the organization’s sustainability performance from January 1 – December 31, 2023, reflects the firm’s commitment to accountability and transparency, as it aims to establish new standards in global responsible development. The report details how the Group is monitoring and reporting against targets across environmental sustainability, social empowerment and governance, revealing strong progress across all categories.</p>
<p>“Our latest Annual Sustainability Report demonstrates that when we say we are committed to setting new standards in responsible development, we truly mean it. We are well on track to deliver a net conservation benefit of 30% by 2040 to the areas surrounding our destinations,” said John Pagano, Group CEO of Red Sea Global</p>
<p>“The work of our team across renewable energy, land and marine conservation and regeneration, social development and clean mobility is proof tourism development can be done another way. My hope is that the rest of the industry draws inspiration from our achievements and embeds regenerative principles into their own work.”</p>
<p>Some achievements highlighted within the report are:</p>
<p>• Installing a total of 760,000 photovoltaic solar panels to power the first phase of the Group’s flagship destination,       The Red Sea, which opened in 2023<br />
• Becoming the largest off-grid charging infrastructure operator in Saudi Arabia, with 150 electric vehicle charging         stations and 82 electric vehicles<br />
• Intervening to protect and enhance environments and species, such as nurturing more than five million plants at         the Red Sea Landscape Nursery since it was established<br />
• Preventing 46,350 tons of CO2 emissions through carbon reduction initiatives<br />
• Pledging a ‘Coral Commitment’, to protect and regenerate corals in the Red Sea and beyond, and pioneering work       in coral cultivation led by marine life scientists<br />
• Transplanting 600,000 mangrove seedlings to four different sites in a dedicated Mangrove Nursery<br />
• Launching the Jewar app, a two-way communication channel for RSG to share news and opportunities with the           local community, and for them to participate and share their views<br />
• Rolling out a volunteering program to encourage mangrove planting and beach clean-ups, with more than 200             participants<br />
• More than 3300 new employees, 50+ Elite Graduates and nearly 74,000 training hours delivered<br />
• Setting a new environmental benchmark with the highest-ever score for Platinum LEED for Cities and                           Communities certification for The Red Sea Master Plan Phase 1</p>
<p>Last year, The Red Sea welcomed its first guests, with three of its hotels now open. Red Sea International Airport has been receiving a regular schedule of domestic flights since September 2023 and international flights began in April 2024, with a twice-weekly route between The Red Sea and Dubai International.</p>
<p>A second destination, Thuwal Private Retreat, located further south will open in the coming weeks. AMAALA remains on track to welcome first guests in 2025, when the first eight resorts complete as part of Triple Bay phase one, along with Corallium and the iconic Yacht Club</p>
<p>RSG’s Annual Sustainability Report 2023 has been developed in accordance with GRI Standards. It is aligned with the United Nations Sustainable Development Goals and to the Kingdom of Saudi Arabia’s Vision 2030, which aims to increase tourism’s share of GDP to 10% and create 1.6 million jobs. The full report can be read in full at <a href="https://www.redseaglobal.com/en/responsible-development/report-2023" data-saferedirecturl="https://www.google.com/url?q=https://www.redseaglobal.com/en/responsible-development/report-2023&amp;source=gmail&amp;ust=1725604559910000&amp;usg=AOvVaw2eW7PUo0z6AG8FsxBTGvpD">this link</a>.</p>
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		<title>Travel &amp; Tourism in Latin America Could Boost Region’s Economy by US$260BN Over the Next Decade</title>
		<link>https://www.tnhglobal.com/travel-tourism-in-latin-america-could-boost-regions-economy-by-us260bn-over-the-next-decade/</link>
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		<pubDate>Wed, 03 Jul 2024 07:44:05 +0000</pubDate>
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		<description><![CDATA[<p>WTTC’s latest report in collaboration with VFS Global highlights actions to boost sector’s growth The World Travel &#38; Tourism Council (WTTC), in collaboration with VFS Global, revealed that the Latin</p>
<p>The post <a rel="nofollow" href="https://www.tnhglobal.com/travel-tourism-in-latin-america-could-boost-regions-economy-by-us260bn-over-the-next-decade/">Travel &#038; Tourism in Latin America Could Boost Region’s Economy by US$260BN Over the Next Decade</a> appeared first on <a rel="nofollow" href="https://www.tnhglobal.com">TnHGlobal</a>.</p>
]]></description>
				<content:encoded><![CDATA[<p><em>WTTC’s latest report in collaboration with VFS Global highlights actions to boost sector’s growth</em></p>
<p>The World Travel &amp; Tourism Council (<a href="http://www.wttc.org/">WTTC</a>), in collaboration with VFS Global, revealed that the Latin American (LATAM) Travel &amp; Tourism sector could add nearly US$260BN to the region’s economy and create nearly eight million new jobs over the next 10 years.</p>
<p>According to the report, ‘Unlocking Opportunities for Travel &amp; Tourism Growth in LATAM’, this potential growth is dependent on three key policies to unlock annualised growth of 3.4%, reaching a contribution of nearly US$909.2BN.</p>
<p>The report includes a policy package focused on improving LATAM’s growth based on transport infrastructure, visa facilitation, and tourism marketing.</p>
<p>Travel &amp; Tourism is a powerhouse sector in the region, with a contribution of more than US$629BN to the region&#8217;s economy in 2023, welcoming 86 million international travellers.</p>
<p>The sector was essential for employment last year, providing livelihoods to more than 24.6 million people, equating to 9% of all the jobs in the region.</p>
<p>Julia Simpson, WTTC President &amp; CEO, said: “LATAM&#8217;s Travel &amp; Tourism sector has witnessed an extraordinary transformation. In the past years, it has grown significantly, contributing immensely to the region&#8217;s economy.</p>
<p>“Growth potential for Travel &amp; Tourism in LATAM is significant. It has already seen substantial growth since 2000, and with the right policies it could unlock an additional US$260 billion in the next decade.</p>
<p>“Countries in the region need better transport infrastructure, simplified visa processes, improved protection for biodiversity and nature, and effective marketing campaigns to highlight the wealth of destinations in this vibrant region.”</p>
<p>Zubin Karkaria, Founder and CEO of VFS Global, said: “We are delighted to partner with WTTC to unlock the immense potential that Travel &amp; Tourism offer in LATAM.</p>
<p>“Since establishing our presence in LATAM in 2009, we are now the trusted partner of 18 governments, serving 29 cities across 17 countries in the region. VFS Global, with its expertise in visa services and tourism promotion, is committed to playing a pivotal role in harnessing LATAM’s potential. Our involvement can also assist destinations in upskilling the workforce, a crucial component in the tourism sector.</p>
<p>“This comprehensive report serves as a roadmap for stakeholders, including governments and National Tourism Boards, to formulate strategies that unlock the continent&#8217;s economic potential, attract crucial investments, and boost inbound arrivals. The region stands to gain significantly from our experience in simplifying cross border mobility through highly secure, reliable, efficient, and innovative technology solutions.”</p>
<p>This report delves into the historical journey of the Travel &amp; Tourism sector in LATAM. It&#8217;s a story of facing challenges head-on, from the Global Financial Crisis in 2008 to the setbacks caused by disease outbreaks and political instability.</p>
<p>Despite all these challenges, the Travel &amp; Tourism sector is on a path to recovery.</p>
<p>According to the global body, 2024 is projected to be a record-breaking year, achieving a GDP contribution of more than US$650 billion, as well as the creation of an additional one million jobs, raising the total to 25.7 million.</p>
<p><strong><em>Opportunities for LATAM</em></strong></p>
<p>The report underscores a strategic approach to enhance tourism by integrating investments in infrastructure, improving air connectivity, and simplifying visa procedures.</p>
<p>The report highlights the importance of protecting biodiversity and nature through better water management and the use of low-carbon energy.</p>
<p>These efforts aim to attract more tourists while ensuring environmental sustainability.</p>
<p>Leveraging digital technologies enhances the travel experience and can optimise marketing strategies, supported by data-driven insights. Investing in local people and natural preservation enriches the visitor experience and ensures Travel &amp; Tourism is both sustainable and inclusive.</p>
<p>Finally, ensuring safety measures builds trust and sustains growth in the Travel &amp; Tourism sector. This cohesive strategy aims to strengthen the region’s position as a competitive and appealing destination globally.</p>
<p>These efforts could unlock the potential for environmental preservation, job creation, and economic development in the LATAM Travel &amp; Tourism sector.</p>
<p><strong>To access the full report, please visit </strong><a href="https://researchhub.wttc.org/product/unlocking-opportunities-for-travel-tourism-growth-in-latin-america"><strong>WTTC Research Hub</strong></a></p>
<p>The post <a rel="nofollow" href="https://www.tnhglobal.com/travel-tourism-in-latin-america-could-boost-regions-economy-by-us260bn-over-the-next-decade/">Travel &#038; Tourism in Latin America Could Boost Region’s Economy by US$260BN Over the Next Decade</a> appeared first on <a rel="nofollow" href="https://www.tnhglobal.com">TnHGlobal</a>.</p>
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		<title>Moscow summarizes the results of the first BRICS tourism forum</title>
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		<pubDate>Wed, 26 Jun 2024 08:53:17 +0000</pubDate>
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		<description><![CDATA[<p>The first BRICS Tourism Forum, which brought together over 600 leading experts, business and government representatives from the BRICS countries, has solemnly concluded in Moscow. As part of the business</p>
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				<content:encoded><![CDATA[<p><em>The first BRICS Tourism Forum, which brought together over 600 leading experts, business and government representatives from the BRICS countries, has solemnly concluded in Moscow. As part of the business program, 12 commercial agreements were signed among representatives of the tourism business sector. The creation of the BRICS Tourism Cities Club was also announced.</em></p>
<p>On June 21, the BRICS Tourism Forum ended in Moscow &#8211; it was the first meeting of the working group to develop practical actions, with participation from all 9 member countries. The initiative to create this platform was first put forward by South Africa in 2018, and finally created under the Russian presidency in BRICS this year. The ideas expressed during the discussions will, in the future, form the basis of the concept of developing co-operation in the fields of innovation, sustainability, digitalisation and co-operation at a city level. Representatives of the participating countries’ tourism businesses held b2b negotiations that led to the signing of the first 12 commercial agreements.</p>
<p><strong><a href="http://www.tnhglobal.com/wp-content/uploads/2024/06/FDR_4519.jpg"><img class="alignnone size-full wp-image-39557" src="http://www.tnhglobal.com/wp-content/uploads/2024/06/FDR_4519.jpg" alt="FDR_4519" width="5176" height="3448" /></a>Maxim Reshetnikov, Minister of Economic Development of Russia</strong>, expressed confidence in the success of tourism development as a significant economic sector for the BRICS countries. He added that in Russia this year more than 90 million tourist trips were expected in the country, which was 30% higher than the pre-Covid figures. “The geography of trips is expanding &#8211; foreign tourists are travelling to Russia more often. The growth of foreign tourists’ movements in the first 4 months of 2024, compared to the same period last year, amounted to 50%”.</p>
<p>Since the beginning of this year, the Ministry of the Economic Development of Russia has launched a program to promote the tourist product of Russia under a single brand &#8220;Discover Russia&#8221;, which is designed to introduce foreign tourists to different regions of the country, to convey a truthful image of Russia. The &#8220;Discover Russia&#8221; brand has already been presented at key international exhibitions in China, India and Saudi Arabia.</p>
<p>“We believe that the establishment of the BRICS Tourism Working Group will promote new progress in tourism co-operation among BRICS countries and contribute to the development of BRICS countries”, <strong>Mr. Zhang Zheng, Vice Minister, Ministry of Culture and Tourism, People’s Republic of China</strong>, noted.</p>
<p>Following this idea, <strong>Mr. Amr El Kady, CEO of Egyptian Tourism Authority</strong>, said that tourism does not only create jobs for millions of people and provide profit for enterprises and the growth of economies, but also establishes bridges between nations and cultures and, most importantly, promotes peace, friendship and common understanding among people.</p>
<p>“Furthermore, by engaging and supporting local communities, we can ensure that tourism development is inclusive and benefits all stakeholders. This forum has reinforced the importance of sustainable tourism as a cornerstone for economic growth, cultural exchange and environmental stewardship among the BRICS nations”, <strong>Mr. Niraj Sharan, Assistant Director General of the Ministry Tourism of India</strong>, added.</p>
<p>Representatives of the Moscow City Government noted that they also bet on the development of multilateral co-operation with the BRICS countries. The Russian capital expands partnership formats and establishes new channels for organizing tourist flow from member countries.</p>
<p>&#8220;In the first quarter of 2024, our capital has already been visited by 129,000 guests from BRICS countries and, by the end of the year, we expect more than 600,000 tourists from these countries. If in 2013-2019, tourists from BRICS countries made up 20-30% of those who came from far abroad, in 2023 it was already 40%. We are focusing on the development of multilateral co-operation with the BRICS countries and expanding the formats of partnership,&#8221; said <strong>Evgeny Kozlov, First Deputy Head of the Moscow Government Office, Chairman of the Moscow City Tourism Committee</strong>.</p>
<p>Within the framework of the Forum, Moscow proposed an initiative for consideration to establish the BRICS Tourism Cities Club. It is planned that the association will serve as a driver for the development of inter-regional tourism and become a convenient platform for direct dialogue between BRICS representatives. &#8220;We hope that this initiative will be approved by our partners and will become an effective tool and a base for increasing mutual tourist flow,&#8221; <strong>Evgeny Kozlov</strong> added.</p>
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		<title>Jazeera Airways Reports Financial Results for 1Q 2024</title>
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		<pubDate>Thu, 02 May 2024 15:56:00 +0000</pubDate>
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		<description><![CDATA[<p>Group revenues at KD 46.4 million 2 million passengers handled Jazeera Airways, in the first quarter (1Q) of 2024 recorded a break even in operations, and reported a net loss</p>
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				<content:encoded><![CDATA[<ul>
<li><em>Group revenues at KD 46.4 million</em></li>
<li><em>2 million passengers handled</em></li>
</ul>
<p>Jazeera Airways, in the first quarter (1Q) of 2024 recorded a break even in operations, and reported a net loss of KD 2.7 million. This was mainly due to the impact of foreign currency losses of KD 2.5 million. The total group revenue for this quarter was KD 46.4 million versus KD 48.3 million from Q1 2023.</p>
<p><a href="http://www.tnhglobal.com/wp-content/uploads/2024/05/J9-NEO.jpg"><img class="alignnone size-full wp-image-39413" src="http://www.tnhglobal.com/wp-content/uploads/2024/05/J9-NEO.jpg" alt="20191018-PID1581-MSN9002-ferry-Flight-JZR" width="4000" height="2469" /></a>Jazeera Airways handled 1.2 million passengers in 1Q 2024, an increase of 4.2% or approximately 47k passengers more vs 1Q ‘23. Load factor was at 79.3% while Jazeera Airways’ network market share increased to 37.3% vs 36.1% in 1Q 23. The retail lease revenue for Terminal 5, owned and managed by the airline increased to KD 378k. Duty free business grew by 5.4% over 1Q ‘23 to KD 1.2 million.</p>
<p><a href="http://www.tnhglobal.com/wp-content/uploads/2024/05/Marwan-Boodai-Chairman-Jazeera-Airways.jpg"><img class="alignnone size-full wp-image-39414" src="http://www.tnhglobal.com/wp-content/uploads/2024/05/Marwan-Boodai-Chairman-Jazeera-Airways.jpg" alt="Marwan Boodai, Chairman, Jazeera Airways" width="2508" height="1845" /></a>Marwan Boodai, Chairman, Jazeera Airways said: “Jazeera Airways, time and again, has demonstrated strong resilience through several unique situations. Last year, headwinds driven by overcapacity, combined with a tough regulatory, geopolitical, and regional landscape put pressure on our year end results. In 1Q 2024, our operations remained steady, yet we recorded a loss impacted by foreign currency fluctuations. However, by staying focused on controlling our operational costs and, nimble and agile to market conditions, we are well positioned to grow in summer and to navigate 2024.”</p>
<p><strong>Financial and Operational Highlights</strong></p>
<table style="height: 247px;" width="706">
<tbody>
<tr>
<td width="613"><strong><em>1Q 2024 Highlights:</em></strong><strong style="font-family: inherit; font-size: inherit;"><em> </em></strong>●        Operating revenue: KD 46.4 million, down 4.1% from 1Q’23, up 18.3% from 4Q ‘23</p>
<p>●        Operating profit: KD 1.3million, down 64.6% from 1Q’23, up by 120% from 4Q ‘23</p>
<p>●        Net loss: KD2.7 million, down 216.5% from 1Q’23, down by 62.2% from 4Q ‘23</p>
<p>●        Passengers: 1.2 million, up 4.2% from 1Q’23, up by 0.7% (1.14m) from 4Q ‘23</p>
<p>●        Load factor: 79.3%, down 2.7% from 1Q ‘23, up by 3.5% from 4Q ‘23</p>
<p>●        Yield: KD 37.43, down 8.9% from 1Q ‘23, up by 17.7% from 4Q ‘23</td>
</tr>
</tbody>
</table>
<p><strong>First Quarter 2024 Review</strong></p>
<p>In the first quarter of 2024, Jazeera Airways welcomed a new Chief Executive Officer, Barathan Pasupathi (Bara), a veteran in aviation and finance with vast experience in heading a budget carrier. The airline also announced the launch of direct flights to Batumi, Georgia scheduled to start from 14 June 2024. Other destinations are also scheduled to resume operations for the summer season. These include Antalya, Beirut, Bodrum, Larnaca, Prague, Sarajevo, Salalah, Sharm El Sheikh, Tirana, Tivat, and Trabzon.  <strong> </strong></p>
<p><strong>2024 Outlook</strong></p>
<p>With the launch of upcoming summer destinations, Jazeera covers close to 63 destinations across the Middle East, Central and South Asia, Africa, and Europe.</p>
<p>Growth, both financial and operational, remains on top of the agenda for Jazeera Airways. This is supplemented by continuous enhancements to products, services, and Jazeera Terminal 5.</p>
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		<title>Nineteen historical attractions from Turkiye get added to UNESCO’s latest list of ‘World Heritage Sites’</title>
		<link>https://www.tnhglobal.com/nineteen-historical-attractions-from-turkiye-get-added-to-unescos-latest-list-of-world-heritage-sites/</link>
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		<pubDate>Tue, 19 Jul 2022 13:36:45 +0000</pubDate>
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		<description><![CDATA[<p>Nineteen historical attractions from Turkiye have made it to UNESCO’s latest list of ‘World Heritage Sites’ that offer “outstanding universal value”. With this, Turkiye now ranks as one of the</p>
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]]></description>
				<content:encoded><![CDATA[<p style="text-align: justify;"><span style="color: #000000;">Nineteen historical attractions from <a style="color: #000000;" href="https://goturkiye.com/">Turkiye</a> have made it to UNESCO’s latest list of ‘World Heritage Sites’ that offer “outstanding universal value”. With this, Turkiye now ranks as one of the top countries globally to offer Indian travellers a record number of cultural heritage sites<strong>. </strong>With the recent inclusion of the Arslantepe Mound, an 8000-year-old archaeological mound, the country has established itself as one of the most popular tourist destinations worldwide. Another exceptional heritage site from Turkiye on the list is Göbeklitepe which broke its previous visitor records even in the midst of the pandemic, hosting 5,67,453 visitors in 2021. This site is further expected to break the current record of visitors by the end of 2022.<strong> </strong></span></p>
<p style="text-align: justify;"><span style="color: #000000;"><a href="http://www.tnhglobal.com/wp-content/uploads/2022/07/Hagia-Sophia-İstanbul.jpg"><img class="alignnone size-full wp-image-38860" src="http://www.tnhglobal.com/wp-content/uploads/2022/07/Hagia-Sophia-İstanbul.jpg" alt="Hagia Sophia, İstanbul" width="5464" height="3640" /></a>Commonly referred to as the “<strong>cradle of civilizations&#8221;,</strong> Turkiye&#8217;s rich cultural and historical diversity is astounding. From the Neolithic period, all the way to the Ottoman Empire, every corner of Türkiye has its famous historical remnants, quietly telling tales of powerful civilisations that once spread their influence across these lands. The world’s first settlements spanning 12 millennia back in time, the grand temples and cities of antiquity, the hidden churches of early Christianity, and the great mosques and palaces of the Ottoman Empire offer travellers so much to discover in Türkiye. </span></p>
<p style="text-align: justify;"><span style="color: #000000;"><a href="http://www.tnhglobal.com/wp-content/uploads/2022/07/Hierapolis-Ancient-city-Denizli.png"><img class="alignnone size-full wp-image-38861" src="http://www.tnhglobal.com/wp-content/uploads/2022/07/Hierapolis-Ancient-city-Denizli.png" alt="Hierapolis Ancient city Denizli" width="1920" height="600" /></a>Travellers from India can enjoy and admire “this creative genius of humanity” in Türkiye and experience the historical journey through Anatolia which begins with Göbeklitepe, one of the most important sites of the Neolithic Age and the world&#8217;s oldest known megaliths. At the foot of the majestic Taurus Mountains, the collection of circles formed by T-shaped stone pillars with intricate carvings expresses the mystic power of a site of worship older than the history itself. At the heartland of Türkiye, one can also visit Çatalhöyük which is another famous Neolithic excavation site where the world’s first urban settlement was unearthed to alter all the history books. This journey is never complete without seeing the splendour of the Ottoman Empire. Bursa was the first capital of the empire and has its share of fascinating monuments, including the Ulu Mosque (Grand Mosque of Bursa), Silk Bazaar, Green Mosque and the Tombs of Osman and Orhan, the founders of the Ottoman Empire. </span></p>
<p style="text-align: justify;"><span style="color: #000000;"><a href="http://www.tnhglobal.com/wp-content/uploads/2022/07/Ephesus-Celsus-Library-İzmir.jpg"><img class="alignnone size-full wp-image-38859" src="http://www.tnhglobal.com/wp-content/uploads/2022/07/Ephesus-Celsus-Library-İzmir.jpg" alt="Ephesus Celsus Library İzmir" width="6379" height="4257" /></a>Visitors can also explore one of the world’s richest open-air museums, the Historical Peninsula of İstanbul which is not only home to exquisite Ottoman monuments like Topkapı Palace, Sultan Ahmet Mosque (the Blue Mosque), and Süleymaniye Mosque, but also to the Eastern Roman marvels like the Walls of Constantinople, Hagia Irene, Little Hagia Sophia, the Hagia Sophia Grand Mosque, and Zeyrek Mosque (Pantokrator Monastery). </span></p>
<p style="text-align: justify;"><span style="color: #000000;"><strong><span style="text-decoration: underline;">Background of UNESCO Heritage Sites</span></strong><strong><span style="text-decoration: underline;"> </span></strong></span></p>
<p style="text-align: justify;"><span style="color: #000000;">Since 1978, UNESCO has declared 1,154 sites worldwide to be of outstanding value to humanity. As of 2022, the number of areas of cultural, historical, and natural value in Türkiye on the Tentative List reached 84. In addition, 297 assets are registered in 35 categories in Türkiye&#8217;s Intangible Cultural Heritage inventory, offering an invaluable opportunity to discover and experience ancient Anatolian traditions.</span></p>
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		<title>Jazeera Airways announces KD3.8 million in net profit in first quarter 2022</title>
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		<pubDate>Fri, 29 Apr 2022 05:52:07 +0000</pubDate>
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		<description><![CDATA[<p>Jazeera Airways today announced a net profit of KD3.8 million for the first quarter (Q1) of 2022, compared to a net loss of KD5.2 million in the first quarter of</p>
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				<content:encoded><![CDATA[<p><span style="color: #000000;"><strong>Jazeera Airways</strong> today announced a net profit of KD3.8 million for the first quarter (Q1) of 2022, compared to a net loss of KD5.2 million in the first quarter of 2021. Total revenue for the quarter reached KD35.7 million, up 339.2%, while operating profit stood at KD5.3 million, up 199.3%.</span></p>
<p><span style="color: #000000;">These record earnings were supported by close to sixfold increase in number of passengers with restrictions at Kuwait International Airport being eased and travel capacity gradually increased to levels near to the pre-pandemic period. Similarly, load factor reached 75.2%, an increase of 28.7%.</span></p>
<p>Commenting on the results, Jazeera Airways Chairman, Marwan Boodai said: “The gradual return of travel capacity at Kuwait International Airport since the second half of last year as well as the lifting of travel restrictions worldwide have shown that there is indeed a latent and strong appetite for travel. Jazeera has focused in the first quarter on expanding its services and capacity in preparation of the launch of new tourist and high demand destinations during the year, all supported with a strong financial position and a cautious strategy to mitigate the risks of recent geopolitical developments.”</p>
<p><span style="color: #000000;">In comparison, during Q1 2019 before the start of the Covid-19 pandemic, Jazeera had reported a net profit of KD1.5 million and flown 529.6 thousand passengers. Q1 2022 performance shows strong resilience in the commercial travel, as well as positive sentiment to the sector for 2022 and beyond.</span></p>
<p><span style="color: #000000;"><strong>Financial and Operational Highlights</strong></span></p>
<table>
<tbody>
<tr>
<td width="519"><span style="color: #000000;"><strong><em>Q1 2021 Highlights: </em></strong></span></p>
<p><span style="color: #000000;">●        Operating revenue: KD35.7 million, up 339.2% from Q1 2021</span></p>
<p><span style="color: #000000;">●        Operating profit: KD5.3 million, up 199.3% from Q1 2021</span></p>
<p><span style="color: #000000;">●        Net profit: KD3.8 million, up 174.2% from Q1 2021</span></p>
<p><span style="color: #000000;">●        Passengers: 707.7 thousand, up 579.8% from Q1 2021</span></p>
<p><span style="color: #000000;">●        Load factor: 75.2%, up 28.7%</span></p>
<p><span style="color: #000000;">●        Yield: KD47.6, down 36.4%</span></td>
</tr>
</tbody>
</table>
<p><strong>First Quarter 2022 Review</strong></p>
<p><span style="color: #000000;">Jazeera Airways achieved a new milestone as an “Approved Training Organization” certified by Kuwait’s Directorate for Civil Aviation, enabling the airline to conduct training programs for pilots and cabin crews from its headquarters in the State of Kuwait. The move enables the airline to expand its capabilities to train the required manpower for future growth.</span></p>
<p><span style="color: #000000;">The airline has also been certified to conduct performance of line maintenance on its aircraft; a certification that increases its operational efficiency significantly.</span></p>
<p><span style="color: #000000;">Jazeera also inaugurated the VIV service, which offers the first private terminal experience at Kuwait International Airport, serving departing and arriving passengers traveling on airlines operating from Terminals 1 and 5 and for general aviation and private jets. The VIV Terminal gives passengers the benefits of a private check-in reception and handling services, gourmet à la carte meals, private customs and immigration area, luxury amenities, and chauffeured transportation.</span></p>
<p><span style="color: #000000;">Jazeera’s Duty Free subsidiary, which took over the flagship Duty Free store at Jazeera Terminal 5 (T5) in December 2021, was fully profitable and achieved all commercial and financial objectives.</span></p>
<p><span style="color: #000000;">Additionally, Jazeera Airways also continued to grow its network with the launch of a new service to the coastal city of Chattogram in Bangladesh. The service is the second for the airline to Bangladesh following the launch of Dhaka in October 2020, serving over 200,000 Bangladeshi nationals living in Kuwait and connecting to more passengers across the GCC region.</span></p>
<p><span style="color: #000000;"><strong>2022 Outlook</strong></span></p>
<p><span style="color: #000000;">Jazeera has announced plans to launch new routes ahead of the summer season to cater to high tourist demand. The airline has confirmed the launch of routes to Vienna and Prague in June, in addition to other destinations that will be announced during the year.</span></p>
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		<title>SriLankan Airlines Records First Fourth Quarter Profit Since 2006</title>
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		<pubDate>Tue, 19 Apr 2022 14:22:12 +0000</pubDate>
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		<description><![CDATA[<p>SriLankan Airlines records its first profitable fourth quarter (Q4) since 2006 for the financial year that ended on 31 March 2022 with a group net profit of USD 1.7 million</p>
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				<content:encoded><![CDATA[<p><span style="color: #000000;">SriLankan Airlines records its first profitable fourth quarter (Q4) since 2006 for the financial year that ended on 31 March 2022 with a group net profit of USD 1.7 million despite pandemic challenges. The airline was able to achieve this financial turnaround through various measures in its 2021-22 financial year including scaling down staff costs and overheads; renegotiating supplier contracts; increasing cargo revenue; and creating an ambitious growth plan capitalizing on pent-up travel demand. The initiatives paid off, with SriLankan making its first monthly profit since the onset of COVID-19 in December 2021 and continuing with a profit in the final quarter. The airline now has accumulated over USD 12 million in profits over the last 4 months as traffic has returned after the pandemic.</span></p>
<p><span style="color: #000000;"><a href="http://www.tnhglobal.com/wp-content/uploads/2021/07/A330.jpg"><img class="alignnone size-full wp-image-38341" src="http://www.tnhglobal.com/wp-content/uploads/2021/07/A330.jpg" alt="A330" width="1024" height="683" /></a>SriLankan’s expansion initiative saw the launch of flights to several new destinations in the last year including Seoul; Moscow; Kathmandu and Paris. Frequencies were also gradually increased across the airline’s network in line with the recovery of the global travel industry and demand. The airline has also carried out major campaigns to boost tourism to the country including a major initiative in India, roadshows supporting new routes and most recently sponsoring the popular French annual adventure trail, Raid Amazones, in March of this year.</span></p>
<p><span style="color: #000000;">The airline is now back to 75 per cent of the passenger revenue it made pre-pandemic in Q4 of 2019-20. Correspondingly, passenger numbers also rose to near 700,000  for the quarter. The airline is making strong headway towards matching pre-pandemic levels as demand for international travel recovers. The payoff is not limited to the airline, as it remains by far the largest carrier of tourists into Sri Lanka. SriLankan is also a net foreign currency earner for the country owing to a sizeable share of its revenue being generated from international markets.  </span></p>
<p><span style="color: #000000;">Ashok Pathirage, Chairman of SriLankan Airlines stated, “I am pleased to note that we ended 2021-22 on a high note, given our first quarterly profit in many years. The passenger demand remained strong, and revenues continued to recover from the setbacks of the pandemic during the quarter. Our annual expenditure remained within expectations. I am thankful to all our valued employees for contributing towards this achievement.”</span></p>
<p><span style="color: #000000;">“We anticipate some headwinds in the first half of this financial year with high fuel prices and a short-term dip in demand to Sri Lanka. We have factored in these challenges and are working towards minimizing the impact with a strong business plan and a sound turnaround strategy to return to full-year profitability. Traffic is expected to recover fully by the end of the year as travel restrictions are eased off further. We will continue to support the tourism industry of Sri Lanka and be a catalyst for economic recovery,” added Richard Nuttall, Acting Chief Executive Officer of SriLankan Airlines.</span></p>
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		<title>Travelport Study: Majority of travellers in India ready to consider domestic and international travel but only with proper safety measures in place</title>
		<link>https://www.tnhglobal.com/travelport-study-majority-of-travellers-in-india-ready-to-consider-domestic-and-international-travel-but-only-with-proper-safety-measures-in-place/</link>
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		<pubDate>Tue, 29 Sep 2020 09:39:15 +0000</pubDate>
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		<description><![CDATA[<p>A recent research shows that communication of travel safety measures is key to regaining traveller confidence and that Indian travellers are amongst the most safety-conscious in the world. According to</p>
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				<content:encoded><![CDATA[<p><b>A recent research shows that communication of travel safety measures is key to regaining traveller confidence and that Indian travellers are amongst the most safety-conscious in the world.</b></p>
<p>According to the results of a new independent research recently released by Travelport, the majority of travellers in India are now ready to consider booking domestic and international trips, but only if airlines, airports, hotels and car rental companies collectively implement ten different safety measures throughout their journey. These measures include the option of fully flexible or refundable flight tickets. The study also shows that of the five countries surveyed demand for almost every safety measure is highest in India. Furthermore, it shows that travellers in India are now much more likely to book through a travel agent than before the COVID-19 crisis, with half (50%, compared to 33% globally) of all travellers anticipating an increase in their use of travel agent services. Globally, this trend was particularly evident among millennials (44%). Overall, three-quarters of travellers in India (73%, compared to 65% globally) who claimed this, said it is because they feel travel agents are best placed to provide them with the latest travel safety information.</p>
<p>The results of the study are based on a survey of 5,000 travellers across India, United Kingdom, U.S.A, Australia and New Zealand (1,000 per country), as well as in-depth interviews with 29 leading travel suppliers. The study found that at all parts of the travel journey, it was deemed critical to have social distancing rules, mandatory use of face masks, and ready access to sanitizing gel or wipes, face masks and gloves. The study also revealed, however, that additional measures still need to be implemented by airlines, airports, hotels and car rental companies to fully restore consumer confidence.<span class="Apple-converted-space"> </span></p>
<p>The table below captures the ten separate safety measures participants of the study said they need to know have been adopted by airports, airlines, hotels and car rental companies for them to consider domestic and international travel. The percentage figures represent the number of travellers that said they will not travel unless the respective safety measure is in place. <span class="Apple-converted-space"> </span></p>
<p><b> </b>The full results of both the quantitative and qualitative components of the research are captured in the Travelport Recovery report.<span class="Apple-converted-space"> </span></p>
<p>In regard to the study, Martin Herbert, Senior Commercial Director &#8211; Operators at Travelport, said, “The travel industry has introduced numerous initiatives to support a safe and responsible recovery of travel over the last few months. This research demonstrates just how important such measures are to ensure travellers feel safe. The industry now needs to ensure it is not only putting these measures in place consistently across the entire travel journey but also communicating them effectively to travellers across the various channels and merchandising technologies available to them.”<span class="Apple-converted-space"> </span></p>
<p><span class="Apple-converted-space"> </span>Derek Sadubin, Managing Director at CAPA &#8211; Centre for Aviation, added that “Safety and flexibility are understandably in front of mind for travellers right now. The travel industry recognizes and respects this, and what is encouraging is that many suppliers such as airlines have already implemented the measures travellers say they need to book a domestic or international trip but we still have a long way to go. Collaboration and communication are now key to restoring traveller confidence and securing a strong and responsible industry recovery.”<span class="Apple-converted-space"> </span></p>
<p>Further reiterating the importance of traveller safety, Sandeep Dwivedi, Chief Operating Officer at InterGlobe Technology Quotient, said that “Travellers’ safety and consistent communication of respective safety measures, including frequent modifications, is of utmost importance to restore confidence in travel. Travelport’s latest study will help travel agents understand ongoing procedures and identify opportunities to offer a better experience to the end traveller.”<span class="Apple-converted-space"> </span></p>
<p><strong>About The Researchers</strong></p>
<p>Headquartered in the U.K, Travelport is a leading technology company serving the global travel industry with representation in approximately 180 countries and territories. It operates a travel commerce platform providing distribution, technology, payment and other solutions for the global travel and tourism industry. The company’s Indian arm is operated by InterGlobe Technology Quotient (ITQ), a strategic business unit of InterGlobe Enterprises.</p>
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