News in brief from oneworld's ATI hearing, BCD Meetings and Incentives, Australia's Macquarie Airports, Cathay Pacific and the London Mayors Office
ATI hearing postponed
A hearing of a US Congressional committee which was due to be held this week into the application by oneworld members for anti-trust immunity on transatlantic routes was postponed.
The hearing at which Sir Richard Branson was due to give evidence for Virgin Atlantic which opposes the application by BA, American Airlines and Iberia, will now be held on a date to be fixed.
The US Department of Transportation is expected to give its ruling on the application in the next six weeks.
www.oneworld.com www.britishairways.com www.aa.com www.iberia.com
BCD acquires San Francisco-based MICE company
BCD Meetings and Incentives has acquired San Francisco-based meetings and events company One World Partners.
BCD said the acquisition would increase its MICE presence on the US West Coast and complement its offices in Chicago, Philadelphia and Atlanta.
One World Partners will continue as a brand for the foreseeable future, BCD said.
One World's founder Teri Hollowell will become BCD's executive director for the West Coast Office.
Mr Hollowell said One World's "high touch" approach to event management and BCD's size would give create a unique product.
www.bcdmi.com www.owpartners.com
Macquarie Airports shakes-up European portfolio
Australian airport operator Macquarie Airports is to sell its 35.5% stake in Bristol Airport to a Canadian pension scheme.
Macquarie has reportedly agreed to sell its holding in the UK airport to Ontario Teachers' Pension Plan for £128m.
In return Ontario will sell its 3.9% stake in Danish Airports Group, owner of Copenhagen Airport, to Macquarie for DKr570m (€76.6m).
The deal will raise Macquarie's stake in the Danish airport operator to 30.8%.
Macquarie said Bristol had generated excellent returns but investors would be better served if resources were deployed elsewhere.
It said Copenhagen was starting to benefit from an improving economic environment and new low cost capacity.
www.macquarie.com.au www.bristolairport.co.uk www.cph.dk
Cathay announces deals to raise cash
Cathay Pacific is to sell part of its investment in Hong Kong Aircraft Engineering Co (HAECO) in a bid to raise new cash.
The airline has also announced a "sale-and-leaseback" deal with BOC Aviation which will also generate new liquidity.
Cathay will sell a 12.5% stake in HAECO to Swire Pacific for around HK$1.9bn (€166m) taking its holding down to 15%.
Tony Tyler, Cathay's ceo, said the sale of HAECO shares would strengthen the airline's balance sheet at a challenging time.
Swire Pacific, part of the Swire Group corporation, is the largest shareholder in Cathay with a 42% stake.
Cathay's deal with aviation company BOC involves 19 B777-300ERs currently on firm order.
Mr Tyler said it was the largest deal of its kind in Cathay's history.
www.cathaypacific.com
London creates business tourism group
The London Mayors Office has announced the creation of a new "Business Tourism" group to drive the city's business travel offering.
The new London Business Tourism Group (LBTG) will be headed by Visit London with the support of Mayor of London Boris Johnson and other city officials.
A key focus for the group will be improving London's convention and events offering ahead of the 2012 Olympic Games.
Both the public and private sectors will be involved in the group to bring "high profile events" to the UK's capital.
The group includes a number of "influential" city stakeholders from organisations including the Greater London Assembly (GLA) and Transport for London (TfL).
The group's main aim is to raise the profile of business tourism in London by attracting new events to the city.
www.london.gov.uk www.visitlondon.com