impressive Vietjet results, IAG low-balls Norwegian, rare Chase backtracking on rewards, Etihad cancels orders, Sheraton Bamako opens
– strong numbers from Vietnamese (and now Thai) LCC Vietjet which reported $60 million in quarterly profits on $600 million in revenue just for Q1!
– IAG is apparently low-balling Norwegian with a takeover offer that has a minimal premium to the current stock price
Norwegian has created this mess (a low stock price) but a hastily planned (but well executed) expansion that has been eating into cash flow. Norwegian is no Uber and fund raising is rough for any airline that isn’t state backed.
I wouldn’t be surprised if someone else (like Qatar or Lufthansa) snaps up Norwegian soon.
– there must have been a lawsuit filed – Chase surprisingly rolled back on limiting the use of award nights to anyone with a (now discontinued) IHG Credit card
Every card member will get an unlimited free night certificate before May 2019.
– Etihad can barely fill the planes it already has and is now trying to cancel or sell off the A350 order it has on it’s books
Unlike with recent Marriott additions (like the Marriott Accra) the hotel is expensive using points 12,000 Starpoints per night (or 36,000 Marriott Rewards points)