Brexit and trade tensions having an impact on Irish growth, finance minister says

Brexit and trade tensions having an impact on Irish growth, finance minister says5 Hours AgoPresident Donald Trump’s comments about the transatlantic relationship between the EU and U.S. are ‘a concern’ for Ireland, whose small and open economy is already being impacted by global trade tensions and Brexit, Finance Minister Paschal Donohoe told CNBC’s Joumanna Bercetche during the IMF Spring Meetings in Washington, D.C.


Brexit and trade tensions having an impact on Irish growth, finance minister says5 Hours AgoPresident Donald Trump’s comments about the transatlantic relationship between the EU and U.S. are ‘a concern’ for Ireland, whose small and open economy is already being impacted by global trade tensions and Brexit, Finance Minister Paschal Donohoe told CNBC’s Joumanna Bercetche during the IMF Spring Meetings in Washington, D.C.
Brexit and trade tensions having an impact on Irish growth, finance minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: paul faith, afp, getty images
Keywords: news, cnbc, companies, brexit, minister, tensions, growth, washington, impact, trumps, transatlantic, told, spring, trade, having, finance, irish


Brexit and trade tensions having an impact on Irish growth, finance minister says

Brexit and trade tensions having an impact on Irish growth, finance minister says

5 Hours Ago

President Donald Trump’s comments about the transatlantic relationship between the EU and U.S. are ‘a concern’ for Ireland, whose small and open economy is already being impacted by global trade tensions and Brexit, Finance Minister Paschal Donohoe told CNBC’s Joumanna Bercetche during the IMF Spring Meetings in Washington, D.C.


Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: paul faith, afp, getty images
Keywords: news, cnbc, companies, brexit, minister, tensions, growth, washington, impact, trumps, transatlantic, told, spring, trade, having, finance, irish


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JetBlue appears to be gearing up to announce service across the Atlantic

JetBlue Airways appears to be gearing up to announce service across the Atlantic as soon as Wednesday, an expansion that the New York-based carrier views an an opportunity to undercut entrenched rivals with its cheaper business-class service. A save-the-date email announcing the April 10 event featured a background pattern similar to upholstery on London’s subway. Buttons featuring JetBlue’s logo and iconic London sights of Big Ben and the London Eye were sent to JetBlue offices, according to on


JetBlue Airways appears to be gearing up to announce service across the Atlantic as soon as Wednesday, an expansion that the New York-based carrier views an an opportunity to undercut entrenched rivals with its cheaper business-class service. A save-the-date email announcing the April 10 event featured a background pattern similar to upholstery on London’s subway. Buttons featuring JetBlue’s logo and iconic London sights of Big Ben and the London Eye were sent to JetBlue offices, according to on
JetBlue appears to be gearing up to announce service across the Atlantic Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: leslie josephs, mark kauzlarich, bloomberg, getty images
Keywords: news, cnbc, companies, routes, london, announce, transatlantic, york, appears, mint, service, atlantic, jetblues, gearing, statement, think, jetblue


JetBlue appears to be gearing up to announce service across the Atlantic

JetBlue Airways appears to be gearing up to announce service across the Atlantic as soon as Wednesday, an expansion that the New York-based carrier views an an opportunity to undercut entrenched rivals with its cheaper business-class service.

The low-cost airline is scheduled to hold an “all hands” meeting with staff at John F. Kennedy Airport along with “viewing parties” at some of its main hubs around the U.S. on Wednesday afternoon, according to a company invitation obtained by CNBC. A save-the-date email announcing the April 10 event featured a background pattern similar to upholstery on London’s subway. Buttons featuring JetBlue’s logo and iconic London sights of Big Ben and the London Eye were sent to JetBlue offices, according to one employee.

The company’s shares jumped by about 4% in after-hours trading on the news.

JetBlue may add service to London but its plans could include other routes to European cities from its New York and Boston hubs.

JetBlue declined to confirm whether it would make an announcement Wednesday but said in a statement, “Potential routes to Europe could provide us an opportunity to grow our focus cities of Boston and New York as we consider the best use of our aircraft from a margin perspective in those cities.”

The move would pit the low-cost carrier against large international airlines like Delta, American, United and their European partners who dominate trans-Atlantic travel. A key part of JetBlue’s strategy in serving Europe would be its popular Mint business class, which features lie-flat seats and some suites with sliding doors as well as premium meals.

“When we think about trans-Atlantic, we do think we can disrupt largely around a Mint-like product because we’ve been so successful on flying to the West Coast with Mint,” Joanna Geraghty, JetBlue’s president and COO said last September.

The trans-Atlantic market, “especially in the premium category, suffers from the same lack of competition and high fares that [transcontinental] routes in the U.S. saw before JetBlue introduced Mint,” JetBlue’s statement said Tuesday.

A long-range variant of the Airbus A321 plane would likely be used to help JetBlue fly across the Atlantic and the airline said it would make a decision on that plane this year.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: leslie josephs, mark kauzlarich, bloomberg, getty images
Keywords: news, cnbc, companies, routes, london, announce, transatlantic, york, appears, mint, service, atlantic, jetblues, gearing, statement, think, jetblue


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How the US-European alliance can become even stronger in an era of disruption

MUNICH – The United States has traditionally reassured doubtful allies of its security commitment through such measures as troop reinforcements and military exercises. U.S. legislators have already done much to legislatively ring-fence the president on NATO on the alliance’s 70th anniversary. He also faces growing concerns at home with the Mueller probe reportedly winding down and Democratic investigations ramping up. The U.S. and Europe account for 64 percent of global outbound foreign direct i


MUNICH – The United States has traditionally reassured doubtful allies of its security commitment through such measures as troop reinforcements and military exercises. U.S. legislators have already done much to legislatively ring-fence the president on NATO on the alliance’s 70th anniversary. He also faces growing concerns at home with the Mueller probe reportedly winding down and Democratic investigations ramping up. The U.S. and Europe account for 64 percent of global outbound foreign direct i
How the US-European alliance can become even stronger in an era of disruption Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: fred kempe, alex wong, getty images
Keywords: news, cnbc, companies, president, era, munich, useuropean, stronger, shape, rules, prosperous, transatlantic, economic, disruption, nato, alliance, global, security


How the US-European alliance can become even stronger in an era of disruption

MUNICH – The United States has traditionally reassured doubtful allies of its security commitment through such measures as troop reinforcements and military exercises.

However, disruptive times call for unconventional measures.

This weekend, the U.S. will forward deploy more than 40 members of Congress – including House Speaker Nancy Pelosi – to the Munich Security Conference, the biggest such U.S. delegation in the 55-year history of the group, the most significant transatlantic powwow of its kind.

At a watershed moment for Western cohesion, the suggested subtext is unmistakable:

Don’t be misled by media reports or Trumpian tweets that suggest the U.S. will weaken or even withdraw from NATO, history’s most enduring and effective alliance. We as representatives of American voters will ensure that we safeguard the transatlantic bonds that have helped produce one of the most prosperous and secure periods of human history.

That’s reassuring, of course, but only for the short term. U.S. legislators have already done much to legislatively ring-fence the president on NATO on the alliance’s 70th anniversary. And President Trump’s comparatively positive statement on the alliance in his State of the Union suggests he may have decided to back off threats and instead take credit for many NATO members’ recent increases in military spending.

After all, he’s got bigger fish to fry: his summit in Vietnam with North Korean leader Kim Jong Un on February 27-28 and a possible meeting soon as well with Chinese President Xi Jinping. He also faces growing concerns at home with the Mueller probe reportedly winding down and Democratic investigations ramping up. NATO may be the beneficiary of limited presidential bandwidth.

So, the greater peril in Munich is that the U.S. and its allies, by focusing so much on preventing worst-case outcomes over the past couple of years, haven’t prepared for the future. At a time that requires a renewed sense of cohesion and purpose on both sides of the Atlantic, they’re hamstrung by ongoing Brexit dramas, transatlantic trade tensions, disagreements on issues ranging from Iran to Russian gas, and a rising tide of nationalist and populist forces.

If transatlantic leaders don’t begin now to remind themselves of their common interests and again join in common cause, they’ll find that the construct of “the West” – that did so much to shape the last century of history – will lose its ability to shape the future.

The transatlantic future is as much an economic as a security question. The North American-European economy still is the largest and most prosperous economic bloc in the world, accounting for a more than third of global GDP (India and China combined account for just 25 percent). The U.S. and Europe account for 64 percent of global outbound foreign direct investment and 51 percent of global personal consumption. Transatlantic coherence also means more combined weight to counteract authoritarian state-owned enterprises and the ability to counter rules that less democratic countries might set on a whole host of global economic rules and practices.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: fred kempe, alex wong, getty images
Keywords: news, cnbc, companies, president, era, munich, useuropean, stronger, shape, rules, prosperous, transatlantic, economic, disruption, nato, alliance, global, security


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JetBlue thinks its business class service could ‘disrupt’ air travel to Europe

JetBlue Airways executives think the carrier could “disrupt” air travel between the U.S. and Europe by offering business class service across the Atlantic. The New York-based airline has been mulling trans-Atlantic service for more than two years. But JetBlue appears interested in taking on full-service airlines that offer business class across the Atlantic. JetBlue’s Mint business class offers lie-flat seats and suites with doors and higher-end food than the coach-class cabins where the airline


JetBlue Airways executives think the carrier could “disrupt” air travel between the U.S. and Europe by offering business class service across the Atlantic. The New York-based airline has been mulling trans-Atlantic service for more than two years. But JetBlue appears interested in taking on full-service airlines that offer business class across the Atlantic. JetBlue’s Mint business class offers lie-flat seats and suites with doors and higher-end food than the coach-class cabins where the airline
JetBlue thinks its business class service could ‘disrupt’ air travel to Europe Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-27  Authors: leslie josephs, mark kauzlarich, bloomberg, getty images
Keywords: news, cnbc, companies, mint, disrupt, air, service, thinks, jetblues, ticket, europe, transatlantic, jetblue, business, airline, travel, think, class, york


JetBlue thinks its business class service could 'disrupt' air travel to Europe

JetBlue Airways executives think the carrier could “disrupt” air travel between the U.S. and Europe by offering business class service across the Atlantic.

The New York-based airline has been mulling trans-Atlantic service for more than two years. It already has flights to Latin America and the Caribbean, but not to Europe.

The airline hasn’t made any decision yet, but business class would likely be key to its strategy, said Joanna Geraghty, JetBlue’s president and COO at the Skift Global Forum, a travel-industry conference that was held in New York on Thursday.

Low-cost carriers like Iceland’s WOW Air, Norwegian and others have expanded rapidly in the trans-Atlantic market in recent years, offering eye-catching, sub-$100 fares and fees for everything else, such as cabin baggage and seat assignments.

But JetBlue appears interested in taking on full-service airlines that offer business class across the Atlantic. JetBlue’s Mint business class offers lie-flat seats and suites with doors and higher-end food than the coach-class cabins where the airline sells meals.

“When we think about trans-Atlantic, we do think we can disrupt largely around a Mint-like product because we’ve been so successful on flying to the West Coast with Mint,” Geraghty said. A long-range variant of the Airbus A321 plane could do the job to Europe but JetBlue is weighing where to best deploy its fleet.

Samuel Engel, who heads the aviation practice at consulting firm ICF, said JetBlue already has a “compelling offer” for business travelers, unlike most new entrants to the market.

“Don’t expect the incumbents to take JetBlue’s European holiday peacefully,” he said.

Mint’s fares vary depending on demand, but a round-trip ticket in JetBlue’s Mint cabin between New York and Los Angeles in mid-October was selling for about $2,400 on JetBlue’s website on Thursday and a business-class ticket on American Airlines for the same dates was about $4,700 on American’s site.


Company: cnbc, Activity: cnbc, Date: 2018-09-27  Authors: leslie josephs, mark kauzlarich, bloomberg, getty images
Keywords: news, cnbc, companies, mint, disrupt, air, service, thinks, jetblues, ticket, europe, transatlantic, jetblue, business, airline, travel, think, class, york


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Monetary policy is directly responsible for economic and financial stability

And if they don’t promptly and properly act on what they see and know, they should think again about the sacred duty of public service. A sobering reminder at the time of the Great Recession’s sad anniversary, and the profound economic and political changes it has ushered in the trans-Atlantic community. At the heart of that devastating event were serious errors of monetary policy, coupled with failures to effectively supervise and manage the financial system. An overwhelming majority of those w


And if they don’t promptly and properly act on what they see and know, they should think again about the sacred duty of public service. A sobering reminder at the time of the Great Recession’s sad anniversary, and the profound economic and political changes it has ushered in the trans-Atlantic community. At the heart of that devastating event were serious errors of monetary policy, coupled with failures to effectively supervise and manage the financial system. An overwhelming majority of those w
Monetary policy is directly responsible for economic and financial stability Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: dr michael ivanovitch, james lawler duggan
Keywords: news, cnbc, companies, directly, wests, monetary, ushered, responsible, stability, financial, policy, economic, know, transatlantic, system, history, warning, wreak, dont


Monetary policy is directly responsible for economic and financial stability

Central banks are the top cops on the beat controlling the economy’s lifeline. They see everything and know everything. If they don’t, they are not doing their job. And if they don’t promptly and properly act on what they see and know, they should think again about the sacred duty of public service.

It’s that simple. A sobering reminder at the time of the Great Recession’s sad anniversary, and the profound economic and political changes it has ushered in the trans-Atlantic community.

At the heart of that devastating event were serious errors of monetary policy, coupled with failures to effectively supervise and manage the financial system. The rest, as the saying goes, is history.

Ideally, it should be the history in Cicero’s sense: “History is life’s teacher” the Roman sage said, noting that reflections on the past should serve as lessons for the future.

An overwhelming majority of those warning about incipient financial crises tell us that we have learned nothing from the debacle that began to wreak havoc more than 10 years ago. By contrast, a distinct minority that believes that the West’s financial system has been strengthened since the spectacular demise of Lehman Brothers is barely audible.

But, as always, blame-game debates and high-handed judgments are not particularly illuminating.


Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: dr michael ivanovitch, james lawler duggan
Keywords: news, cnbc, companies, directly, wests, monetary, ushered, responsible, stability, financial, policy, economic, know, transatlantic, system, history, warning, wreak, dont


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Airlines lag climate goals despite fuel efficiency improvement

Airline fuel efficiency on transatlantic flights has improved by one percent a year since 2014 as carriers modernized their fleets, but the industry still lags its own climate goals, a study released on Wednesday said. In 2010, the Montreal-based International Civil Aviation Organization (ICAO) set a goal of 2 percent annual fuel efficiency improvement through 2050 for all international flights. Airline trade group International Air Transport Association (IATA) expects an average improvement in


Airline fuel efficiency on transatlantic flights has improved by one percent a year since 2014 as carriers modernized their fleets, but the industry still lags its own climate goals, a study released on Wednesday said. In 2010, the Montreal-based International Civil Aviation Organization (ICAO) set a goal of 2 percent annual fuel efficiency improvement through 2050 for all international flights. Airline trade group International Air Transport Association (IATA) expects an average improvement in
Airlines lag climate goals despite fuel efficiency improvement Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-12  Authors: simon dawson, bloomberg, getty images, andrew harrer, gabjones
Keywords: news, cnbc, companies, climate, industry, flights, international, lag, goals, passenger, emissions, study, despite, transatlantic, improvement, airlines, fuel, efficiency


Airlines lag climate goals despite fuel efficiency improvement

Airline fuel efficiency on transatlantic flights has improved by one percent a year since 2014 as carriers modernized their fleets, but the industry still lags its own climate goals, a study released on Wednesday said.

The industry’s average fuel efficiency improved to 34 passenger kilometers per liter of fuel from 33 between 2014 and 2017 as carriers opted for modern aircraft with lower fuel burn and operated fuller planes, the study from the U.S.-based International Council on Clean Transportation (ICCT) said.

Airlines have been switching to more fuel-efficient planes to mitigate the impact of high oil prices on their margins.

The aviation industry has also set a non-binding goal of capping emissions from international flights at 2020 levels, despite rising passenger traffic as demand for global travel climbs.

According to the study, budget carrier Norwegian Air Shuttle ASA, was ranked first of 20 transatlantic carriers for fuel efficiency, while British Airways, part of the International Airlines Group, came in last.

British Airways on Wednesday said its fuel efficiency per passenger “appears lower,” because on such routes the carrier has a “greater share of the premium market,” which has fewer seats.

“We are well on course to deliver a 25 per cent improvement in carbon emissions reduction by 2025,” the carrier said in an emailed statement.

In 2010, the Montreal-based International Civil Aviation Organization (ICAO) set a goal of 2 percent annual fuel efficiency improvement through 2050 for all international flights.

Airline trade group International Air Transport Association (IATA) expects an average improvement in fuel efficiency of 1.5 percent per year on all international flights from 2009 to 2020.

While the study only looked at transatlantic flights, the ICCT said airlines will have to become more efficient to meet industry goals.

“New policies to accelerate investments in more fuel-efficient aircraft and operations are critical if industry is to meet its long-term climate goals,” said Dan Rutherford, aviation program director for the U.S.-based independent non-profit research organization.

The study compared the fuel efficiency of nonstop passenger flights between North America and Europe by 20 major airlines, following a similar study conducted in 2014.

Starting Jan. 1, 2019, most airlines flying international routes will begin monitoring their fuel and carbon emissions as part of a landmark agreement brokered two years ago by the ICAO.

According to industry figures, air transport accounts for 2 percent of global man-made carbon emissions.


Company: cnbc, Activity: cnbc, Date: 2018-09-12  Authors: simon dawson, bloomberg, getty images, andrew harrer, gabjones
Keywords: news, cnbc, companies, climate, industry, flights, international, lag, goals, passenger, emissions, study, despite, transatlantic, improvement, airlines, fuel, efficiency


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How Trump’s NATO summit and Putin meeting could shape the future of the West

The combination of a high-stakes NATO summit and a one-on-one meeting between President Donald Trump and his Russian counterpart Vladimir Putin could bring about the most dramatic geopolitical sea change since the end of the Cold War, analysts have told CNBC. The U.S. president’s working trip to Europe started with a two-day international gathering of NATO members in Brussels on Wednesday, with leaders hopeful of projecting solidarity in the face of Russian threats to divide the group. Yet, shor


The combination of a high-stakes NATO summit and a one-on-one meeting between President Donald Trump and his Russian counterpart Vladimir Putin could bring about the most dramatic geopolitical sea change since the end of the Cold War, analysts have told CNBC. The U.S. president’s working trip to Europe started with a two-day international gathering of NATO members in Brussels on Wednesday, with leaders hopeful of projecting solidarity in the face of Russian threats to divide the group. Yet, shor
How Trump’s NATO summit and Putin meeting could shape the future of the West Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-11  Authors: sam meredith, jasper juinen, getty images, mikhail metzel, tass via getty images
Keywords: news, cnbc, companies, trumps, nato, future, trump, shape, transatlantic, russian, vladimir, told, trip, putin, war, summit, west, twoday, working, meeting


How Trump’s NATO summit and Putin meeting could shape the future of the West

The combination of a high-stakes NATO summit and a one-on-one meeting between President Donald Trump and his Russian counterpart Vladimir Putin could bring about the most dramatic geopolitical sea change since the end of the Cold War, analysts have told CNBC.

The U.S. president’s working trip to Europe started with a two-day international gathering of NATO members in Brussels on Wednesday, with leaders hopeful of projecting solidarity in the face of Russian threats to divide the group.

Yet, shortly after sitting down with NATO chief Jens Stoltenberg on Wednesday morning, Trump began ruffling transatlantic feathers — again.


Company: cnbc, Activity: cnbc, Date: 2018-07-11  Authors: sam meredith, jasper juinen, getty images, mikhail metzel, tass via getty images
Keywords: news, cnbc, companies, trumps, nato, future, trump, shape, transatlantic, russian, vladimir, told, trip, putin, war, summit, west, twoday, working, meeting


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Flying to Europe this summer? Join the club

WOW air and other low-cost carriers based in Europe are responsible for much of the growth in transatlantic flights coming to or from the U.S. WOW air, which started flying in 2012, wasn’t even serving the U.S. in the summer of 2014. Four years later it’s expected to offer more than a million seats between the U.S. and Reykjavik, according to OAG. While some of the new flights to Europe are being offered by low-cost airlines, the legacy carriers have also been expanding their transatlantic sched


WOW air and other low-cost carriers based in Europe are responsible for much of the growth in transatlantic flights coming to or from the U.S. WOW air, which started flying in 2012, wasn’t even serving the U.S. in the summer of 2014. Four years later it’s expected to offer more than a million seats between the U.S. and Reykjavik, according to OAG. While some of the new flights to Europe are being offered by low-cost airlines, the legacy carriers have also been expanding their transatlantic sched
Flying to Europe this summer? Join the club Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-07  Authors: phil lebeau, source, wow airlines, photo courtesy wow air
Keywords: news, cnbc, companies, wow, europe, club, transatlantic, summer, airlines, flights, service, flying, lowcost, carriers, network, join


Flying to Europe this summer? Join the club

WOW air and other low-cost carriers based in Europe are responsible for much of the growth in transatlantic flights coming to or from the U.S. WOW air, which started flying in 2012, wasn’t even serving the U.S. in the summer of 2014. Four years later it’s expected to offer more than a million seats between the U.S. and Reykjavik, according to OAG. Many of those seats are being sold for as little as $99.

While some of the new flights to Europe are being offered by low-cost airlines, the legacy carriers have also been expanding their transatlantic schedules, especially in the summer.

Over the last five years, Delta, United and American have increased the number of summer flights to Europe by 11 percent. Some of that is because of stronger demand, but some of it is in response to other airlines adding service to cities where those legacy carriers have hubs or a major presence.

American Airlines decision to add daily service between Dallas-Fort Worth and Reykjavik shows the airline is prepared to protect its turf.

“We constantly evaluate opportunities for our network and summer travel has always been popular and fits with our network strategy,” said Vasu Raja vice president of network and schedule planning for American. ” We are excited to provide great service and connecting opportunities to Iceland from our DFW hub.”

Harteveldt and others in the airline industry wonder if the growth in transatlantic flights can continue since they are being added by low-cost carriers who may get clipped by rising jet fuel prices.

“We don’t know if all these airlines have financial staying power, so this may be a great summer for long haul low cost flights to Europe. We don’t know what next summer will be,” he said.

Questions? Comments? BehindTheWheel@cnbc.com.


Company: cnbc, Activity: cnbc, Date: 2018-06-07  Authors: phil lebeau, source, wow airlines, photo courtesy wow air
Keywords: news, cnbc, companies, wow, europe, club, transatlantic, summer, airlines, flights, service, flying, lowcost, carriers, network, join


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American Airlines is taking ‘basic economy’ to Europe

Starting in April, American Airlines is taking its no-frills basic economy class to Europe, meaning travelers in the lowest level coach ticket won’t get a free checked bag, seat selection or the ability to upgrade. American will allow basic economy passengers on transatlantic routes to use overhead bins. Domestic basic economy fares offered by American and its rival United Airlines, unlike Delta’s, prohibit passengers from stowing items overhead. American has not yet disclosed how much it will c


Starting in April, American Airlines is taking its no-frills basic economy class to Europe, meaning travelers in the lowest level coach ticket won’t get a free checked bag, seat selection or the ability to upgrade. American will allow basic economy passengers on transatlantic routes to use overhead bins. Domestic basic economy fares offered by American and its rival United Airlines, unlike Delta’s, prohibit passengers from stowing items overhead. American has not yet disclosed how much it will c
American Airlines is taking ‘basic economy’ to Europe Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: leslie josephs, steve parsons, getty images
Keywords: news, cnbc, companies, american, bag, airlines, transatlantic, economy, taking, passengers, europe, checked, basic, free, fares, travelers


American Airlines is taking 'basic economy' to Europe

Budget-conscious travelers can forget about a free checked bag this spring.

Starting in April, American Airlines is taking its no-frills basic economy class to Europe, meaning travelers in the lowest level coach ticket won’t get a free checked bag, seat selection or the ability to upgrade.

The airline, the world’s largest, follows competitor Delta Air Lines in expanding the restrictive fares to Europe.

American will allow basic economy passengers on transatlantic routes to use overhead bins. Domestic basic economy fares offered by American and its rival United Airlines, unlike Delta’s, prohibit passengers from stowing items overhead.

American has not yet disclosed how much it will charge basic economy passengers for a checked bag, said spokesman Joshua Freed. Delta said it will charge basic economy passengers $60 for a checked bag on transatlantic routes.

The basic economy fares will also be available on American’s transatlantic partner carriers International Consolidated Airline Group units British Airways and Iberia.

Airlines are expanding basic economy to drum up more revenue in the form of higher fares and fees. Executives at Delta and American recently estimated that around half of passengers pay up for regular economy.

The airlines are also facing down a crop of upstart transatlantic airlines that in exchange for a low base fare sell perks that used to be free on many airlines like seat selection, food and cabin baggage.

U.S. airlines in 2016 took in more than $4 billion in baggage fees.

Basic economy is also a selling point for airlines’ co-branded credit cards, which often give travelers a free checked bag and priority boarding.

These cards give travelers a reason to stick with a certain airline and carriers make money by selling frequent flyer miles to banks. American spokesman Freed said basic economy passengers will still have to pay to check a bag if they’re traveling internationally, even with co-branded cards, however.


Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: leslie josephs, steve parsons, getty images
Keywords: news, cnbc, companies, american, bag, airlines, transatlantic, economy, taking, passengers, europe, checked, basic, free, fares, travelers


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Airlines’ passenger fee bonanza is going global in 2018

Those numbers are set to rise as airlines expand no-frills basic-economy fares next year. Earlier this month, Delta said it will charge basic-economy passengers booked to and from Europe $60 to check their first bag starting in April. American Airlines offers basic-economy fares that are even more restrictive because they prohibit those passengers from using overhead bins. That will bring the budget airline’s trans-Atlantic routes to 61 next year. Other low-cost airlines are planning additional


Those numbers are set to rise as airlines expand no-frills basic-economy fares next year. Earlier this month, Delta said it will charge basic-economy passengers booked to and from Europe $60 to check their first bag starting in April. American Airlines offers basic-economy fares that are even more restrictive because they prohibit those passengers from using overhead bins. That will bring the budget airline’s trans-Atlantic routes to 61 next year. Other low-cost airlines are planning additional
Airlines’ passenger fee bonanza is going global in 2018 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-12-14  Authors: leslie josephs, getty images
Keywords: news, games, cnbc, companies, fares, global, billion, air, passenger, transatlantic, pay, economy, basiceconomy, bonanza, going, routes, airlines, passengers, 2018, fee


Airlines' passenger fee bonanza is going global in 2018

Fliers paid airlines a record $1.2 billion to carry their checked luggage and $720 million to change or cancel their tickets in the third quarter, according to the Department of Transportation.

Those numbers are set to rise as airlines expand no-frills basic-economy fares next year.

Delta Air Lines on Thursday said its basic-economy class product would go worldwide by the end of 2018. Earlier this month, Delta said it will charge basic-economy passengers booked to and from Europe $60 to check their first bag starting in April.

International routes were one of the last places where passengers weren’t forced to pay for checked luggage.

If passengers don’t want to pay a fee, they will have to pay a higher fare — conveniently, it’s often the same sum as the baggage fee — to upgrade to regular economy class.

Delta said that segmenting its cabin with basic-economy, premium economy and other products will generate $2.7 billion in revenue by 2019.

Worldwide, airlines will bring in a record $57 billion in passenger fees this year, according to a recent study by consulting firm IdeaWorks and rental car site CarTrawler. It’s partially the result of budget airlines charging for everything, including seat assignments and food, and full-service airlines trying a la carte pricing.

Delta is not the only airline expanding restrictive, no-frills fares next year. Its French-Dutch partner Air France-KLM is introducing a similar option.

American Airlines offers basic-economy fares that are even more restrictive because they prohibit those passengers from using overhead bins. American and Delta say about half of their passengers opt to pay the higher regular economy fare.

American is also offering basic economy tickets to some international destinations, including Cancun.

On Thursday, Norwegian Air Shuttle announced four new trans-Atlantic routes: New York and Los Angeles to Madrid, New York to Amsterdam and Los Angeles to Milan. That will bring the budget airline’s trans-Atlantic routes to 61 next year.

Other low-cost airlines are planning additional trans-Atlantic routes for 2018.

Delta shares were up 2.9 percent on Thursday.


Company: cnbc, Activity: cnbc, Date: 2017-12-14  Authors: leslie josephs, getty images
Keywords: news, games, cnbc, companies, fares, global, billion, air, passenger, transatlantic, pay, economy, basiceconomy, bonanza, going, routes, airlines, passengers, 2018, fee


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