Abacus International President and CEO, Robert Baile, expressed (13-Aug-09) cautious optimism for the beginning of a recovery in the travel industry over the forthcoming six months. Abacus stated it has seen better than expected results in travel segments such as online bookings, LCCs, high performing markets such as Vietnam, a new trend for earlier booking lead times and a growing focus on intra-Asian and domestic travel.[more]
Abacus International: “It’s true that there is evidence of green shoots sprouting and lining the path that the industry is travelling on right now, which is great news. However, this road is still likely to be a bumpy one, leading Abacus to forecast 4-6% less travel bookings for 2009 when compared to a similar period in 2008...At Abacus, our figures on bookings for Free and Independent Traveller (FIT) in the first six months were down by 3% compared to the same period in 2008 but this figure is not as bad as was originally expected and could indicate a slow-down in the slow-down or even perhaps some of the signs of recovery. This result is testament to the resilience of the travel industry in this region which far from resigning itself to the overwhelming challenges caused by the economic crisis and the H1N1 virus, has quickly responded with aggressive promotions and creative marketing that has motivated consumers to start travelling again, albeit not on the scale previously seen. These attractive deals have helped to minimise the slow-down in booking levels," Robert Baile, President and CEO. Source: Company Statement, 13-Aug-09.