logo
Europeans are pulling back from travel to the US, but rich Americans are still going the other way, Europe's biggest airlines say

Europeans are pulling back from travel to the US, but rich Americans are still going the other way, Europe's biggest airlines say

Europeans may be losing interest in visiting the US, but Americans are still keen on flying transatlantic — for now.
Air France-KLM, Europe's second-largest airline by revenue, said Wednesday that bookings on flights from Europe to the US in May and June are down 2.4% compared to last year. Meanwhile, those in the opposite direction have risen 2.1%.
Europeans instead seem to be looking anywhere else for their summer travels. The airline group's bookings from Europe to the rest of the world are up 9.2%, compared to 7.3% the other way.
"Europe is holding up against the turmoil with inbound traffic from both the United States and the rest of the world showing growth compared to last year," CEO Ben Smith said on Wednesday's earnings call.
Germany's Lufthansa, Europe's biggest airline by revenue, is seeing similar trends.
CEO Carsten Spohr said on a Tuesday earnings call that Americans are more willing to spend than Europeans, and the airline group is seeing stronger growth from the US than in other markets.
He added: "Bookings have slightly softened in the US, destinations to and from."
Tighter immigration rules in the US are one reason Europeans are looking to travel elsewhere.
In an interview with Bloomberg, the CEO of hospitality firm Accor spoke of declining bookings due to a "bad buzz," with more reports of Europeans being turned away at the US border.
For example, France's higher education minister told Agence France-Presse that a scientist was denied entry to the US after he was found to have sent texts criticizing Donald Trump.
The president's tariff plan has also caused economic uncertainty. Travel is one of the first things to suffer in such cases because it's a non-essential thing to spend money on and is relatively easy for consumers to forego.
However, people have also been more willing to pay for experiences post-pandemic, and premium cabins for leisure travel have been more resilient.
This may be driven by Americans, given that they earn about 35% more than French people on average. France is also a particularly popular vacation spot for Americans, especially since the pandemic.
But with the economic uncertainty set to continue and the impact of tariffs yet to be fully realized, some analysts think the worst is yet to come for airlines.
"At the moment, the US carriers and Lufthansa have pointed towards resilient premium leisure demand. We continue to think this will weaken due to wealth effects," Andrew Lobbenberg, a Barclays analyst, wrote in a Tuesday note.
In another note the following day, he added that Barclays analysts are "bearish" for transatlantic routes.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

PensionBee Survey Reveals Nearly Half of Americans Have Less Than One Year of Retirement Savings
PensionBee Survey Reveals Nearly Half of Americans Have Less Than One Year of Retirement Savings

Business Upturn

time17 minutes ago

  • Business Upturn

PensionBee Survey Reveals Nearly Half of Americans Have Less Than One Year of Retirement Savings

NEW YORK, June 09, 2025 (GLOBE NEWSWIRE) — Nearly one in three Americans (30%) couldn't survive more than six months on their retirement savings if they had to stop working tomorrow, while 42% have less than one year of savings total, according to new data from PensionBee's Q2 Happy Retirement Report. Just one in ten Americans believes they can live off their savings for 10 years or more. These findings reveal more than a retirement problem—they expose a survival crisis hiding in plain sight. With traditional pensions declining and Social Security facing potential cuts, Americans across all generations are more dependent on personal savings than ever before. Yet most are lacking basic financial resilience. 'Low saving levels among older workers are particularly troubling,' said Romi Savova, CEO of PensionBee. 'In an economy where companies are cutting costs and older workers often face the longest unemployment periods, inadequate savings isn't just about retirement, it's about basic survival. Too many people are one layoff away from being forced into a retirement they can't afford. With AI poised to reshape entire industries, this financial vulnerability becomes an existential threat for millions of American families.' The Actions Behind the Numbers But here's what separates financial confidence from financial fantasy: specific, measurable actions. The survey reveals that confidence isn't built on hope—it's built on behavior. Among respondents who feel 'very positive' about retirement, 61% have structured retirement plans, half with professional guidance, and 25% have consolidated multiple accounts. In stark contrast, just 9% of Americans who feel 'very negative' about retirement have any structured retirement planning in place. Americans who felt 'very negative' about their retirement were also twice as likely (41%) to have delayed saving until age 30, compared to just 20% of those who reported a 'very positive' outlook. The data reveals the specific actions that separate confident savers from worried ones: starting early, maximizing employer benefits, consolidating old retirement accounts, and, when it makes sense, working with financial advisors. These aren't just nice-to-haves—they're the foundation of financial security in an uncertain economy. Retirement Preparedness Across Generations Gen Z: Building Financial Foundation Despite Early Challenges At 43%, Gen Z reports the second-highest retirement optimism, yet their behavior suggests financial vulnerability. Nearly one in five (19%) have already taken hardship withdrawals from retirement accounts—a concerning trend for a generation just starting their careers. However, they're also the most proactive: 25% plan to seek financial advice this year, and 29% are embracing online planning tools. Their challenge isn't awareness—it's building financial resilience while navigating an increasingly expensive economy. Millennials: Navigating Multiple Financial Priorities Millennials show clear signs of economic pressure from competing priorities. They report the lowest retirement confidence (41%) and are most likely to be managing student debt, aging parents, and childcare. Nearly one in four (22%) cash out their 401(k)s when changing jobs, compared to just 14% of Baby Boomers. Having entered the job market during the Great Recession, many developed financial habits that prioritize immediate needs over long-term wealth building. At 29%, they're most likely to delay starting retirement savings, missing crucial years of compound growth. Gen X: Managing Time Constraints and Competing Demands Gen X faces significant time pressure: 36% have less than one year of savings with fewer than 10 years until retirement age. Supporting both aging parents and college-bound children, they're working to build adequate retirement funds within a compressed timeframe. Further, only 23% consistently contribute enough to receive full employer matching funds, representing missed opportunities that could meaningfully improve their retirement outlook. Baby Boomers: Confident Outlook with Limited Savings Baby Boomers report the highest optimism (51%), though this confidence may not fully align with current retirement trends showing later retirement ages and continued reliance on part-time work. Despite being around retirement age, nearly half (49%) of Baby Boomers reported having five years or less of savings. This generation's optimism reflects a different economic era—one with pensions, affordable healthcare, and more predictable career paths. What Comes Next Despite these challenges, the survey reveals reason for optimism: half of Americans plan to increase contributions this year, suggesting growing awareness of the problem. 41% of Americans reported a positive retirement outlook in Q2—down over 10% from Q1's survey . This declining confidence seems to reflect not only the market volatility but perhaps a growing awareness that individual effort alone cannot solve a systemic problem. 'The widespread lack of retirement preparedness we're seeing isn't something workers can solve alone,' added Savova. 'Employers have a critical role beyond just offering a 401(k). When workers are cashing out accounts during job changes and missing employer matches, that's a clear signal that current benefit structures aren't working. We need to reform our system and take active steps: automatic enrollment, better education, and support systems that help departing employees preserve their savings rather than lose them.' About PensionBee PensionBee is a leading online retirement provider, helping people easily consolidate, manage, and grow their retirement savings. The company manages approximately $8 billion in assets and serves over 275,000 customers globally, with a focus on simplicity, transparency, and accessibility. Survey Methodology* Participation Details: The survey data was gathered and sent out by Attest between May 9, 2025 and May 13, 2025 to a total of 1,000 Americans across the 18 – 100 age groups. Voluntary Participation: Participation in the survey was voluntary. Respondents were free to decline participation or skip any questions they chose not to answer. Your investment can go down as well as up. This survey is provided solely for informational and educational purposes and should not be relied upon as sole decision-making tools. Nothing presented here constitutes tax, legal, financial or investment advice. This information does not take into account the specific financial, legal or tax situation, objectives, risk tolerance, or investment needs of any individual investor. All information provided is based on publicly available data and research at the time of posting. This information, and any associated customer testimonial or third party endorsement, does not constitute an offer, solicitation, or recommendation to buy or sell any securities or investments. Your investment is at risk. Past performance is no guarantee of future results. Media Contact: Adela McVicarSR PR Manager [email protected]

Champion ® Homes to Be Featured on Designing Spaces ® Airing on Lifetime Television ®
Champion ® Homes to Be Featured on Designing Spaces ® Airing on Lifetime Television ®

Business Wire

time25 minutes ago

  • Business Wire

Champion ® Homes to Be Featured on Designing Spaces ® Airing on Lifetime Television ®

BUSINESS WIRE)--Champion Homes, Inc. (NYSE: SKY) ('Champion Homes') today announced the company will be featured on the home design and construction show Designing Spaces on Lifetime Television this week. The segment showcases Champion's beautiful home designs and highlights the incredible benefits of offsite construction for homebuyers. 'We're thrilled to be featured on Designing Spaces, a show dedicated to high quality, beautifully designed homes like the ones we build for hardworking Americans every day,' said Champion Homes President and CEO Tim Larson. 'Champion Homes has an uncompromising commitment to providing our customers with high-value homes and an exceptional purchase experience. We're looking forward to connecting with new homebuyers across the country through this exciting television segment.' Designing Spaces, produced by Florida-based integrated media company BrandStar, is an award-winning show that travels the country to remodel, redecorate and redesign the spaces we call home. The Champion Homes segment will air Wednesday, June 11 at 7:30am ET/PT and will re-air on Wednesday, June 18 at 7:30am ET/PT. It will also be available for streaming on DirecTV Stream, Philo, Sling TV, Hulu with Live TV, Frndly TV, Vidgo, Now TV, Xfinity Choice TV and Peacock Premium Bundle. The episode shows the beautiful design aesthetics and curb appeal of Champion Homes's offsite-built homes. From trendy tiny homes to spacious multi-story residences, Champion's homes complement the design aesthetics of neighborhoods and communities across the country. As a testament to Champion's outstanding designs, the company has won 26 Manufactured Housing Institute Excellence in Manufactured Housing Awards for home design in the past 11 years. 'Today's modern offsite-built homes offer people who want to buy a home some really great lifestyle and design choices,' said BrandStar EVP of Programming Jack Schwartz. 'Champion empowers buyers with choices by providing a variety of floorplan options and curated styles, thus ensuring there are homes for every taste.' In the episode, Champion Homes's Carlee Daniels gives a tour of the Olivia, a three-bedroom, three-bathroom, 2,560-square-foot manufactured home. The Olivia's open concept floorplan is perfect for entertaining, and it has a den space that's ideal for working from home. The chef's kitchen is a buyer's dream with two walk-in pantries, stainless steel Whirlpool ® appliances and a large island. One of the most appealing features of the Olivia is that it brings outdoor living inside, offering direct access to the large deck from the living room and the primary bedroom. Whether homebuyers are in the market for an entry-level home, are looking to scale up for a growing family or are wanting to downsize, Champion Homes's innovative offsite construction methods and commitment to the homebuyer experience make homeownership attainable. With offsite construction, homes are built indoors where they're protected from the elements. Champion uses high quality, durable materials that are comparable to those in site-built homes, and homes are built to stringent building codes by skilled, centralized workforces in the company's 46 manufacturing facilities. The efficiencies of offsite construction allow buyers to move in faster. This streamlined process also delivers greater value per square foot, providing affordability, value and quality in a single package. With nationwide availability, Champion builds homes in a range of sizes from 399-square-foot park models to over 2,000-square-foot homes that fit the lifestyle of any homebuyer. 'We like to say that Champion Homes offers A Smarter Way Home™ because we build an unmatched range of modern, new construction homes that are available across the nation,' Daniels said in the episode. Viewers can watch the segment air Wednesday, June 11 at 7:30am ET/PT and re-air on Wednesday, June 18 at 7:30am ET/PT. The segment can also be streamed on DirecTV Stream, Philo, Sling TV, Hulu with Live TV, Frndly TV, Vidgo, Now TV, Xfinity Choice TV and Peacock Premium Bundle. About Designing Spaces Designing Spaces ® is an award-winning home improvement show that travels the country to remodel, redecorate and redesign the spaces we call home. The entertaining, educational show features innovative decorating ideas, do-it-yourself projects and step-by-step transformations that inspire women everywhere to tackle home improvement challenges and decorating dilemmas. From mortgage tips to bathroom overhauls, Designing Spaces covers the whole house, soup to nuts. For more information visit About BrandStar BrandStar connects people to brands to do life better. BrandStar has unparalleled experience in creating customized educational content for brands with laser-targeted extensive distribution through their multi-channel network ecosystem and methodology. From original television programming on Lifetime, social media, digital marketing, to media management and PR, BrandStar helps brands connect with the right consumer, at the right time, with the right message, through all the right channels. About Champion Homes, Inc. Champion Homes, Inc. (NYSE: SKY) is a leading producer of factory-built housing in North America and employs more than 9,000 people. With more than 70 years of homebuilding experience and 46 manufacturing facilities throughout the United States and western Canada, Champion Homes is well positioned with an innovative portfolio of manufactured and modular homes, ADUs, park-models and modular buildings for the single-family, multi-family and hospitality sectors. In addition to its core home building business, Champion Homes provides construction services to install and set-up factory-built homes, operates a factory-direct retail business with 72 retail locations across the United States and operates Star Fleet Trucking, providing transportation services to the manufactured housing and other industries from several dispatch locations across the United States. Manufactured and Modular Homes Park Model RVs Star Fleet Trucking

Elon Musk Says DOGE Savings Will Come ‘Over Time': What This Means for Your Wallet
Elon Musk Says DOGE Savings Will Come ‘Over Time': What This Means for Your Wallet

Yahoo

time28 minutes ago

  • Yahoo

Elon Musk Says DOGE Savings Will Come ‘Over Time': What This Means for Your Wallet

Elon Musk has officially left the Department of Government Efficiency (DOGE), but stated his team's work will go on in reducing government waste and fraud. He made the announcement on X May 28 writing that DOGE will get stronger 'over time.' Trending Now: For You: Musk's departure comes before meeting his campaign promise to cut government overspending by $2 trillion. He later slashed that number in half and said, ​​'I'm confident that over time we'll see $1 trillion of savings, a trillion dollars of waste and fraud reduction,' as Yahoo Finance according to the DOGE website, $180 billion has been cut so far-a drop in the bucket compared to Musk's original estimate of $2 trillion. Below we will explore if we may see more savings, which may impact your wallet, according to finance experts. While $180 billion isn't the initial goal, it can be beneficial in the long run, but don't expect immediate relief, said Danny Ray, founder of PinnacleQuote.'For the short term, inflation still eats into your grocery bill,' he explained. 'Insurance costs keep creeping up. But over time, if — and that's a big if — DOGE's mission stays on course, we might see fewer taxes, reduced national debt pressure and less waste on bloated programs.''Over time' really means it's not what you feel in your pocket today. '[It's] what won't be taken out of it down the road,' Ray said. Check Out: While DOGE has saved $180 billion by their account, finance expert Andrew Lokenauth with Be Fluent in Finance, who had a different view and doesn't believe taxpayers will see positive changes, called the situation a 'harsh reality.' 'Those $180 billion in claimed cuts — they're spread across massive federal programs and some of those numbers are kinda sketchy. I've gone through the data myself and found plenty of accounting tricks,' he added. A few days after Musk left DOGE, he publicly slammed the Republican spending bill — specifically those who supported the bill, as seen on X. According to the Congressional Budget Office, the bill will increase the deficit $2.3 trillion over the next 10 years.'Overall, it's disheartening,' Ray said. 'Americans want accountability, not finger-pointing. And when someone like Musk walks away and calls it out publicly, it exposes the deeper dysfunction, where savings and reform take a backseat to politics.'Lokenauth agreed there is a major issue behind the scenes. 'Through my analysis of the Congressional Budget Office numbers, that $2.3 trillion deficit Musk is warning about is real and will make the DOGE savings insignificant,' he explained. 'The promised cuts aren't happening, the deficit is growing and now the guy in charge has basically turned against it, which means Americans are stuck with more debt and spending — exactly what DOGE was supposed to prevent,' he DOGE has been spun as a way to save Americans money, the numbers don't show that to be the case. That trillion-dollar savings promise keeps getting pushed further into the future, which in government terms usually means it's not happening.'In the end, what this means for Americans is simple: don't expect miracles,' Ray said. 'But demand transparency and don't stop pushing for leaders who'll treat your paycheck like it matters, because it does.' Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates The 5 Car Brands Named the Least Reliable of 2025 This article originally appeared on Elon Musk Says DOGE Savings Will Come 'Over Time': What This Means for Your Wallet

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store