Saturday 22 July 2017

Aer Lingus suffers passenger decline

AVIATION

Aer Lingus carried 927,000 passengers last month, a 3.4pc decline on the number it carried in September last year, according to figures released by the airline yesterday.

The continuing fall in numbers comes as the carrier has cut capacity as part of its bid to return to profitability by improving its yields. Its overall load factor, or percentage of seats it filled on its aircraft, rose 3.5 points to 81pc. The load factor on long-haul services for the month was 81.8pc, up 10.2 percentage points.

Hoteliers ask State for loan guarantee

HOTELS

The Irish Hotel Federation (IHF) said its members are trading at a big disadvantage to hotels north of the Border, as banks are refusing to lend to hotels in the Republic. The IHF has called on the Government to introduce a UK-style loan guarantee for all SMEs, that would see the State pay back 50pc of eligible bank loans in the event of default.

US jobless benefit claims down by 2pc

UNEMPLOYMENT

New claims for US unemployment benefits dropped last week by more than 2pc, confirming an improvement in the troubled labour market seen since mid-August, government data showed yesterday. Initial claims for the week ending October 2 fell to 445,000, a drop of 2.4pc from the previous week and the second consecutive week of decline, according to the Labour Department report. The previous week's claims figure was revised upward to 456,000, from 453,000.

German output up by surprise 1.7pc

industry

Official figures show that German industrial output rose by a much-better-than-expected 1.7pc in August. The figures came after a surprise jump in orders boosted prospects for the entire euro zone economy. The monthly increase in output in Europe's biggest economy was far better than analyst forecasts of around 0.1pc.

Crude oil falls from five-month peak

Commodities

Crude oil tumbled from a five-month high after the dollar rebounded versus the euro and US equities declined, wiping out an early advance. Oil headed for the biggest drop in three weeks as the greenback climbed against the common currency for the first time in three days, reducing the appeal of commodities.

Irish Independent

Promoted articles

Also in Business