A round-up of today's business news in brief
Aer Lingus to keep Shannon flights to US
Aer Lingus and Shannon Airport have agreed a deal that will see the airline retain its transatlantic routes for the winter 2008/09 season. Aer Lingus will operate daily direct flights from Shannon to Boston and New York. It will also offer a daily service to Chicago via Dublin.
It is understood that Aer Lingus secured a 50 per cent discount in airport charges at Shannon for a five-month period between November and March. In addition, commitments were made in relation to marketing spend to promote the west of Ireland as a tourist destination.
EU, US at odds on gambling
A transatlantic dispute over internet gambling flared up again yesterday after the European Union said it suspected the US of discriminating against its operators. Peter Mandelson, the EU trade commissioner, ordered an investigation into a complaint by EU internet operators that they had been locked out of the market while domestic betting companies continue to trade. - (Financial Times service)
Scottish sale by bookies
The Sean Graham chain of bookmakers has sold its Scottish outlets to Morrisons, Scotland's largest independent chain, for a reported £2 million (€2.6 million).
The sale of the 13 outlets occurred after an approach from Morrisons, Grahams said in a short statement. The Scottish group will retain the staff in the newly acquired outlets.
Check-in desk fees to go up
The Dublin Airport Authority (DAA) was given the green light by the aviation regulator Cathal Guiomard to increase the fee for check-in desks to €25,000 a year, along with a rise in the hourly rental charge to €30.
This was in line with a submission from the DAA. The previous annual charge was €16,718.
China's trade balance falls
China's trade balance moderated in January and February in line with expectations that the rapid rise in exports that has seen its global surplus increase eightfold since 2004 may finally be tapering off. China recorded a surplus of $28 billion (€18 billion) for the two months, down 29 per cent year-on-year. - (Financial Times service)
Microsoft cuts Xbox price
Microsoft has cut the price of its Xbox games console in Europe as it faces ongoing intensive competition from Nintendo's Wii and Sony's Playstation 3. The high-end Xbox 360 Elite now has a recommended price of €380 - a reduction of €80. The Xbox 360 has been cut by a similar amount to €280, while a basic arcade version is available for €200. Microsoft said the Xbox has 42 per cent of the market in Europe for console and software sales.
Autogrill buys BAA unit
Autogrill, the biggest manager of airport restaurants, agreed yesterday to buy a BAA unit and the shares it doesn't own in another airport retail operation, Aldeasa, for $1.5 billion, becoming the world's largest owner of duty-free stores.
The Italian company, will pay £546.6 million to purchase World Duty Free Europe Ltd. from BAA.
