China's Ctrip reported a 22 percent year-over-year increase in fourth-quarter corporate travel revenues to RMB58 million (US$9.2 million), "primarily driven by the increased corporate travel demand from business activities." Full-year 2012 corporate travel revenues jumped 24 percent to RMB200 million (US$31.7 million), accounting for 5 percent of total company revenue. "Ctrip corporate travel services has once again achieved strong growth by gaining more market share," said COO Jane Sun during a conference call with analysts. "We see great potential in more Chinese companies proactively managing their travel expenses. Our online booking ratio was over 50 percent in the fourth quarter." For corporate travel in the current quarter, Ctrip expects growth "will be largely in line with the air ticketing business, which is 15 percent to 20 percent," said deputy CFO Jenny Wu.
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International Consolidated Airlines Group, parent company to British Airways and Iberia, on Friday reported a fourth-quarter profit of €138 million,... read more »