Passenger numbers for February - back on the up?

Tracking numbers fro Air4casts and other sources we are seeing a return into positive territory after a slow down at the end of last year and a bad January. But I will caution before looking at this too hard - remember that February this year has an extra day's worth of revenue. With this fact and also Easter being early - we may still see some more positive signs.

BA is still looking a little sickly loosing the BMED and GB Airways for the first full period of time. In the USA market United still looks a little pale. Southwest and other players are looking a lot healthier.

In 2007 we saw also that the hotel market managed to have positive numbers in Yield, occupancy rates and ADRs. But the softness is showing in certain areas. Specifically we see small business groups, leisure (non-VFR) slowing. The continuing fall of the dollar is benefiting perversely the top ed of the market as Europeans flex their financial muscles.

Suffice to say - we think the market is "volatile"

Cheers

Timothy