According to half of the economists (47% or 7 out of 15) on Finder’s BoC Interest Rate Forecast panel, the Bank of Canada could hold the interest rate until at least 2023.
A third of the panel expect the rate to hold until some point in 2023 while an additional 13% say it will hold beyond then; with Scotiabank deputy chief economist, Brett House believing the rate will remain unchanged until at least the end of 2023.
Said House: “We forecast that the Bank of Canada will keep the overnight rate target on hold until the second half of 2023 owing to the magnitude of the output gap,...
AirlinePros Canada Inc. reports that Lanmei Airlines of Cambodia (IATA: LQ/961) is now an active member of BSP Canada. Lanmei has opted for mass e-plating (general concurrence) so that all fully IATA registered travel organizations in Canada may start issuing tickets on LQ e-stock. LQ can be booked in all major GDS systems, such as Amadeus, Sabre and Apollo.
At this time LQ will be progressively introducing credit card acceptance(VI/MC/DC) forms of payment for use in GDS. That is in addition to standard “cash” transactions.
Agents may claim 3% commission POS on LQ operated...
An in-principle agreement between Hong Kong and Singapore to create a bilateral Air Travel Bubble (ATB) is giving travellers there reasons to celebrate.
The milestone arrangement is designed to help revive cross-border air travel between the two aviation hubs in a safe and progressive way.
Hong Kong and Singapore enjoy strong trade, investment, finance, tourism and people-to-people ties. Both cities are major aviation hubs, and the international air route between the two cities was among the busiest in the Asia-Pacific region before the pandemic. Travel links between Hong Kong and...
Air France celebrated the 70th anniversary of its Canadian operations, inviting its partners, suppliers, employees, members of its sales network and its customers to join it for a virtual event to mark the occasion.
The carrier’s presence in Canada dates back to Oct. 2, 1950, when an Air France Lockheed Constellation 749 touched down at Dorval airport after stopovers in Shannon and Gander. The first outbound Montreal-Paris flight departed on Oct. 5.
Air France KLM Canada’s vice-president and general manager, Catherine Guillemart-Dias was centre stage for the event, talking with...
After leading the company for 12 years, Air Canada’s president and CEO, Calin Rovinescu will be retiring on Feb. 15, 2021, following the completion of the company’s current fiscal year. , its President and Chief Executive Officer, will retire on February 15, 2021.
Deputy CEO and Chief Financial Officer, Michael Rousseau will succeed him upon his retirement.
On the announcement of his retirement, Rovinescu said: “I have enjoyed a unique and very special relationship with Air Canada and our outstanding people for over three decades, on the front lines of many of the company's...
Air Canada has re-opened its Maple Leaf Lounge at YYC Calgary International Airport with leading biosafety measures featuring enhanced new protocols for the well-being of customers and employees.
With the aim to support local business, the Maple Leaf Lounge is open daily to eligible customers travelling on domestic flights, spotlights Calgary- and Canadian-based products.
Andrew Yiu, vice president, product, at Air Canada, said: “We are pleased to again welcome eligible customers to our Maple Leaf Lounge at YYC Calgary International Airport. We have extended our industry-leading...
Airports Council International (ACI) World and IATA reinforced the urgent call for governments to use testing as a means to safely re-open borders and re-establish global connectivity and to prevent the systemic collapse of the aviation industry with non-debt generating financial support.
The dual measures would protect countries from the importation of COVID-19 cases, avert an employment crisis in the travel and tourism sector, and ensure that the critical aviation structure remains viable and able to support the economic and social benefits on which the world relies.
The Air...
WestJet has announced that it will be indefinitely suspending operations to Moncton, Fredericton, Sydney and Charlottetown while significantly reducing service to Halifax and St. John's.
The suspension eliminates more than 100 flights weekly or almost 80% of seat capacity from the Atlantic region starting Nov. 2, 2020.
Ed Sims, WestJet president and CEO, explained: “It has become unviable to serve these markets and these decisions were regrettably inevitable as demand is being obliterated by the Atlantic bubble and third-party fee increases.”
And Sims continued: “Since the...
Porter Airlines is extending its temporary service suspension to Dec. 15, based on continuing travel restrictions associated with COVID-19.
Michael Deluce, president and CEO, Porter Airlines, said: “The flare up of COVID-19 cases in certain markets during the last month dampened any expectation of changes to government restrictions that will enable us to begin flying again in November.”
Deluce continued: “The federal government is indicating that they need more confidence about what course the pandemic will take before restrictions are reconsidered. We hope that lifting of...
No one will argue with the assertion that the travel industry in Canada needs a reason to celebrate. Certainly, no on here at Baxter Media will argue with that.
So, while a global pandemic may have prevented an in-person, hugs and cheek-kissing gala, it didn’t prevent Baxter Media from taking the high-tech route and hosting the 2020 Agents’ Choice Awards Virtual Gala – a first for the industry – to celebrate the favourites in the 21st edition of the annual Agents’ Choice Awards Readership Survey.
And by all accounts, it was a great way to pay tribute to those in the travel...