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Expedia signals May rebound as cancellations stabilise

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(Reuters) – Online travel booking company Expedia Group Inc (EXPE.O) on Wednesday pointed to demand recovering in May as cancellation rates stabilise, overshadowing a bigger-than-expected quarterly loss and sending its shares up nearly 4%.

U.S. airlines have signalled slower ticket cancellations and an improvement in bookings on some routes, as countries ease lockdowns imposed to curb the spread of the coronavirus that had crippled the global travel industry.

“What we’ve seen is green shoots in the areas you would expect, places where movement has become possible, where people can now start to think about their summer holiday,” a company executive said on a post-earnings conference call.

Expedia said it was seeing strength in its vacation rental business, Vrbo, as people look to get away in the summer after being forced to stay at home.

Bookings for online travel agencies will fall about 60% in the third quarter, compared with a more than 80% plunge in the prior quarter, according to SunTrust analyst Naved Khan.

Expedia also said it secured $3.95 billion in funding, including $1.2 billion in preferred equity investments from Apollo Global Management (APO.N) and Silver Lake.

In the first quarter, gross bookings tumbled 39.2% to $17.89 billion.

Net loss attributable to Expedia was $1.30 billion, or $9.24 per share, in the quarter ended March 31, compared with $103 million, or 69 cents per share, a year earlier.

Excluding items, the company posted a loss of $1.83 per share, compared with the average analyst estimate of a loss of $1.23, according to IBES data from Refinitiv.

Revenue fell 15.3% to $2.21 billion.

Reporting and photo: Reuters

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AIDA brings over 2,000 tourists to Maldives in major economic boost

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Maldives recently welcomed the Italian-flagged cruise ship AIDA, carrying 2,139 tourists. Operated primarily for Swiss, Austrian, and German visitors, the ship arrived on December 8, 2024, from Muscat, Oman. This visit marks the first cruise ship arrival since regulatory changes were implemented at the request of the Maldives Association of Yacht Agents (MAYA).

The AIDA’s stopover is expected to provide a significant boost to the local economy. The influx of tourists is likely to benefit various businesses, including restaurants, souvenir shops, local dhonis, guesthouses, and retail outlets in Malé and Hulhumalé. This surge in activity is anticipated to further solidify the Maldives’ position as a leading cruise destination in the region.

This milestone underscores the Maldives’ ongoing efforts to diversify its tourism offerings. Beyond its economic impact, the AIDA’s visit is expected to enhance foreign reserves and contribute to broader national economic growth. The vessel is scheduled to depart the Maldives on December 9, 2024, at 6 PM, after a brief yet impactful visit.

The Maldivian tourism industry continues to thrive despite global challenges. This achievement follows recent accolades, including being named the World Travel Awards’ (WTA) World’s Leading Destination for the fifth consecutive year and earning the title of World’s Leading Green Destination for the first time. The successful introduction of cruise tourism marks the beginning of a promising new chapter, with future visits poised to further invigorate the industry and local economy.

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A Soaring Festive: celebrate the season in style at Ifuru Island Maldives

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This festive season, Ifuru Island Maldives invites guests to a tropical paradise celebration under the theme ‘A Soaring Festive.’ Taking place from December 21, 2024, to January 10, 2025, the event promises a vibrant, entertainment-filled program designed to create joy, excitement, and lasting memories.

Catering to diverse preferences, A Soaring Festive offers an array of experiences, from dynamic nightlife and unique performances to relaxed island vibes, ensuring there is something for everyone.

Renowned DJ Rawlo will headline the nightly entertainment, captivating audiences with high-energy performances and dynamic beats. Breaking away from conventional DJ stereotypes, Rawlo’s electrifying sets promise to keep guests dancing under the stars until late into the night.

Adding to the festive lineup, the talented duo Synthetic Seduction—comprising Evgeniya and Olcay—will deliver versatile performances, including soulful saxophone melodies, lively DJ sets, and engaging duo band shows. Whether guests are enjoying cocktails by the pool or dancing on the sand, this duo creates the perfect ambiance for both relaxation and high-energy fun.

For those seeking visual artistry, Jonas and Aygul will dazzle with awe-inspiring fire shows, mesmerising LED displays, skillful juggling acts, and elegant belly dancing. Their multi-faceted performances promise to light up the island with unforgettable entertainment.

Complementing the headline acts, ‘A Soaring Festive’ features a variety of activities designed to enhance the holiday experience. Guests can participate in beach games, competitions, and themed culinary events that celebrate the flavors of the season, ensuring a celebration filled with joy and excitement.

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New deep-sea fish species discovered in Maldives: Chromis Abadhah

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In a breakthrough for marine science, a new species of fish has been discovered in the pristine waters of the Maldives. Named Chromis Abadhah, the species derives its name from the Maldivian Dhivehi word Abadhah, meaning perpetual, symbolising the ongoing commitment to planetary conservation. The name also acknowledges the support of the Rolex Perpetual Planet Initiative, which funded the research.

The fish was first spotted near Maafilaafushi in the Kaafu Atoll. Subsequent studies revealed that the species inhabits multiple regions of the Maldives, ranging from Lhaviyani Atoll to Dhaalu Atoll. Researchers documented the fish in eight distinct locations, indicating that it may be distributed across various parts of the country.

Chromis Abadhah resides at depths between 95 and 110 metres, in the mesophotic zone, where sunlight begins to fade. This habitat sets it apart from other species in its family, which are typically found in shallower waters of around 30 meters.

The new species belongs to the ‘Dan’ba’ family, a group of damselfish commonly found in Maldivian seas. However, Chromis Abadhah is distinct from its relatives in several ways:

  • Unlike other Chromis species, it lacks the characteristic black cross line near the neck.
  • Its upper shell comprises 14 bones, compared to the typical 13 seen in related species.

While other Chromis species, such as Chromis axillaris, Chromis pelora, and Chromis woodsi, are found in various parts of the world, Chromis Abadhah appears to be endemic to the Maldives, making it a unique addition to the region’s biodiversity.

The study was a collaborative effort involving Maldivian experts and international scientists. To better understand the species, researchers captured four specimens using a specialised net. Their findings, published in a scientific paper, highlight the importance of deep-sea exploration in uncovering hidden marine treasures.

The identification of Chromis Abadhah underscores the Maldives’ rich marine biodiversity and the critical role of research in its preservation. This discovery also emphasises the importance of protecting deep-sea habitats, which often harbour unique and endemic species.

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