Friday 30 September 2022, JW Marriott Grosvenor
November 2022, Virtual
21 November 2022, Hilton London Metropole
American Express reported a net income of $1bn for the second quarter of 2005, up 16% on the $876m for the same period in 2004.The record figures included an 11% year on year increase in revenues for Travel Related Services (TRS) for the second quarter.The group said net income for TRS rose to a record $808m, 10% higher than the figure of $732m for 2004. Amex chairman and ceo, Kenneth Chenault said “strong momentum” in the card business had driven the record revenues.He added: “Cardmember spending rose sharply among consumers, small businesses and corporate clients. The volume growth was excellent throughout our card-issuing business and from our bank network partners.“This growth in all of our key customer segments produced overall business volumes that once again outpaced our major competitors.”He said Amex had generated double-digit growth in average spending per cardmember and added 1.2 million cards in the last three months.
Iberia â€˜to launch low cost carrier'
Iberia Airlines is reported to be ready to launch a low cost airline next year with its hub in Barcelona.A report says Iberia plans to name its new carrier Mediterranea which will target the lucrative Mediterranean tourist market.Iberia has taken a heavy pounding from low cost carriers like Ryanair and easyJet which have snapped up a proportion of the carrier's short haul market.The Spanish national airline has in the past said that it might launch its own low cost carrier but a spokesman this week said a decision had still not been made.