Articles tagged “latin america”

Latin America’s Despegar Is on a Buying Spree Despite Pandemic Challenges

Latin America’s Despegar Is on a Buying Spree Despite Pandemic Challenges

Dennis Schaal, Skift

Despegar is playing the hand it's been dealt during the depths of the coronavirus crisis, and that means it will cut costs, ensure liquidity, and be on the prowl for opportunistic acquisitions to take market share.

2 months ago

Why Being Grounded for Months Was the Best Pandemic Outcome for This Airline

Why Being Grounded for Months Was the Best Pandemic Outcome for This Airline

Brian Sumers, Skift

U.S. airlines are flying all they can and selling cheap fares to fill planes. Copa was required by its government to do the opposite. It effectively stopped flying for months. It lost a lot of money in the second quarter, but perhaps not as much as you might think.

2 months ago

From a WhatsApp Channel to Latin America’s Latest Online Travel Startup

From a WhatsApp Channel to Latin America’s Latest Online Travel Startup

Matthew Parsons, Skift

Despite rising coronavirus cases and airlines on the brink of collapse, Milla Travel could still make its mark in a region that's long overdue for modernization in the travel management space.

3 months ago

Despegar Salvages Its Acquisition of Mexican Travel Agency Best Day

Despegar Salvages Its Acquisition of Mexican Travel Agency Best Day

Sean O'Neill, Skift

Despegar, Latin America's largest online travel company, will pay much, much less than its original $136 million proposed price to buy Mexican travel agency Best Day. Expect similar tough haggling over deal terms by travel companies across the globe.

4 months ago

Why Latin America’s Travel Recovery Might Lag the World’s

Why Latin America’s Travel Recovery Might Lag the World’s

Marcelo Rochabrun, Reuters

The only upcoming trip for many Latin Americans will be returning to their workplaces. A feckless U.S. and reckless China have prevented the world from coordinating a response to the pandemic.

5 months ago

Despegar May Drop Its Acquisition of Mexican Travel Agency Best Day as Crisis Takes Toll

Despegar May Drop Its Acquisition of Mexican Travel Agency Best Day as Crisis Takes Toll

Sean O'Neill, Skift

Despegar had offered to pay a premium for Mexico's Best Day in January, but today the two companies are strapped for cash due to the pandemic's destruction of travel bookings. This acquisition may be one of several deals across the sector imperiled by coronavirus.

6 months ago

Latin America’s Despegar Will Have to Navigate Coronavirus Currency Impact

Latin America’s Despegar Will Have to Navigate Coronavirus Currency Impact

Sean O'Neill, Skift

Coronavirus has caused turmoil in the global financial markets, which has devalued several key currencies and made foreign trips costlier. But devaluation may also make potential acquisition targets cheaper for Despegar, the region's largest online travel agency.

8 months ago

The New Face of Latin American Airline Partnerships

The New Face of Latin American Airline Partnerships

Kristin Majcher, Skift

Airline partnerships connecting North and South America look different in 2020, with Delta a stronger contender in the region than ever before. Its $1.9 billion investment for a 20 percent stake in Chile’s Latam Airlines helps. Now, the question is how it will shape the industry — and the strategies of competitors like American Airlines.

8 months ago

Latin America’s Biggest Travel Company Isn’t Despegar or Booking

Latin America’s Biggest Travel Company Isn’t Despegar or Booking

Kristin Majcher, Skift

Brazil’s CVC Corp.’s purchase of Argentina’s Almundo is a strategic move to increase its digital reach — but more importantly it helps CVC build even greater scale beyond its home borders.

9 months ago

British Airways Owner IAG Makes Offer for Spanish Airline Air Europa

British Airways Owner IAG Makes Offer for Spanish Airline Air Europa

Patrick Whyte, Skift

It's easier to understand IAG CEO Willie Walsh's sanguine tone on last week's earnings call given he clearly had this deal in the pipeline. If it goes through — and it's still a big if given the competition concerns — it will ease the pain of Delta's recent Latam deal.

12 months ago

JetBlue Airways Pulls Back to Regroup on Latin America and Caribbean Strategy

JetBlue Airways Pulls Back to Regroup on Latin America and Caribbean Strategy

Brian Sumers, Skift

It isn't easy being in the aviation business, but airlines have one advantage over a traditional company. Their assets are mobile. If a carrier like JetBlue discovers softness in one region, it can move its airplanes elsewhere.

12 months ago

Why Delta Air Lines Covets This Not-So-Profitable Latin American Airline

Why Delta Air Lines Covets This Not-So-Profitable Latin American Airline

Kristin Majcher, Skift

Delta’s planned $1.9 billion investment for a 20 percent stake in Latam is a pretty penny, but the U.S. airline is confident the deal will pay off by expanding its network in South America.

1 year ago