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News.com.au
6 days ago
- Business
- News.com.au
Virgin Australia returns to sharemarket with a bang
Virgin Australia has returned to the sharemarket after a five-year hiatus with a massive $685m initial public offering on Wednesday, and it could influence the future health of the Australian economy. In the biggest IPO of the year, the Bain Capital-owned airline has decided to return to the ASX amid a rise in domestic tourism and spending. The offer will almost halve Bain's stake in the airline from about 70 per cent to 39.4 per cent. Qatar Airlines, which recently invested in Virgin, will reportedly keep its 23 per cent holding. If successful, Virgin's listing in the market will be seen as a sign of a bright future for the Australian economy, as investors signpost the potential for the nation's consumer spending to recover. If it fails, it could point to the opposite. So far, all signs point to a successful IPO, as domestic travel demand recovers and the two recent RBA rate cuts ease the pressure on Australian households. Qantas has been trading at a record high, and the ASX itself has been overwhelmingly up despite swings. 5.1 million passengers were on domestic commercial flights in Australia as of March, a figure sightly below the same time last year but more than four times the numbers in mid-2021. Despite Virgin's voluntary administration in 2020 following Covid-19 travel restrictions, after which it was acquired by US private equity company Bain, it now corners 34.4 per cent of the domestic market share as of March 2025. It is not lagging much behind Qantas, which holds 37.5 per cent, according to the Australian Competition and Consumer Commission. The death of other budget airlines such as Bonza and Rex has only boosted these two major players. Virgin is also planning to resume long-haul international flights made possible by its partnership with Qatar. The airline is conducting its IPO using a front-end book-building method, where investor bids are submitted before the prospectus receives approval from Australian regulators. According to the term sheet, institutional investors were able to their bids up to Thursday, with the stock expected to begin trading on June 24. Virgin's IPO will be the largest in Australia following the DigiCo Infrastructure REIT launch that raised $2bn in December before a 30 per cent downturn in share price. Experts say the Virgin IPO could offer investors a unique entrance into the Australian airline market, but it has its own risks. 'Virgin Australia's planned return to the ASX via a $A685m initial public offering is the first major IPO of 2025, and one to watch closely,' eToro market analyst Josh Gilbert said. 'The IPO, priced at $A2.90 per share, gives the airline a market cap of $ It follows the on-and-off IPO over the last two years when the airline sector has moved from strength to strength, with companies around the world announcing record profits and seeing shares rally. 'Under Bain's direction, Virgin Australia has streamlined operations, focusing on profitable domestic routes, and achieved record underlying earnings of $A439m in the latest half year. 'Essentially, it's a very different airline than it was in 2020 and it is far more attractive to investors. Having only one real competitor in the landscape, Qantas, makes the offer uniquely appealing.' However, the investment could also be a major risk. 'Investors may view Virgin's IPO as an opportunity to gain exposure to Australia's duopoly airline market at a compelling valuation that will trade at a discount to Qantas,' Mr Gilbert said. 'Although the airline sector has had a great few years, investors should be mindful of its razor-thin margins and cyclical risks, particularly if demand slows amid slowing consumer spending.'
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Travel + Leisure
28-05-2025
- General
- Travel + Leisure
These 8 Travel Essentials Are Officially ‘In' This Summer—Plus, What's Getting Cut From Our Packing Lists
Now that Memorial Day is in the rearview mirror, the official start of summer is right around the corner. Between warm-weather vacations and weekend getaways, the sunny season is always packed with plenty of travel opportunities. While I have no plans to travel abroad this summer (though I'll never pass up an impromptu trip), my calendar is packed with several short domestic vacations. With that said, I aim to have seamless travel experiences, so I can focus on making the most of my summer instead of stressing about minor details like whether I can fit everything into my carry-on luggage and what comfortable shoes to pack. To help me navigate which travel essentials I actually need, I've compiled a list of products I'm dubbing 'in' for summer 2025. From space-saving packing cubes to breathable walking shoes, here's everything I believe deserves a spot on any summer packing list, along with what's getting the boot, from just $8 at Amazon. I have to admit, I cringed at the rise of mini fans and neck coolers last summer, but I'm fully embracing portable cooling devices this year. In the spirit of having full, active days, any relief from sweltering temperatures is more than welcome if it keeps me on my feet longer. I already have this top-rated rechargeable handheld fan in my shopping cart, which also serves as a flashlight and a portable charger. The foldable design conceals and protects the fan's blades. One charge provides 19 hours of cooling time, which should last through a few days of use. With over 50,000 purchases this month alone, Amazon shoppers agree: A mini fan is a must-have accessory this summer. Plus, with color options like rosy pink and light green, the fan is too cute to pass up. Linen pants are one of my summer staples, and this year I'm incorporating them into my travel wardrobe by swapping out my go-to leggings for the breezy bottoms. The breathable fabric and loose-fitting silhouette give the pants a non-constricting feel that's perfect for a long-haul flight or any type of travel day, and they look much more elevated and summer-appropriate than a pair of black leggings or sweatpants. These best-selling Anrabess wide-leg linen pants have a flattering smocked waist and deep side pockets. One Amazon shopper called the bottoms 'the comfiest pants' they own, adding that they are 'not see-through' and that the fabric 'doesn't wrinkle.' I love my Away Everywhere Duffel Bag for a short weekend away, but my shoulders get tired from lugging it around, especially if I'm hopping on a jam-packed train or trudging through the airport. That's why I'm investing in an ultra-small mini roller bag. While I have plenty of carry-on luggage pieces, I usually try to stick to a weekender bag for a two-day getaway. However, this 16-inch suitcase can fit under a seat, and its compact size stores perfectly in my small apartment, so I can whip it out in a pinch without having to open my other luggage. Plus, if I need a bit more space, I can slip my Away duffel on the handles, so I don't have to worry about carrying it around. Packing comfortable walking shoes on vacation is a no-brainer, but I'm rethinking chunky sneakers for my summer travels. These lightweight sneakers from Kizik are easy to pack, and the breathable knit fabric will keep feet feeling fresh and cool even after a long day of walking. The laceless shoes also have a TSA-friendly, on-the-go design, with a bendable heel that pops up after you step into them. The sneakers have garnered rave reviews from Amazon shoppers, who praise their comfort and easy-to-wear design. One Amazon shopper wrote that they 'provide a level of comfort that is unmatched,' adding that they've worn the shoes 'nearly every day for over six months.' As hard as I try, I will always be an overpacker, which means my suitcase is a scary place when I open it up. While I don't see my packing habits changing anytime soon, this summer I plan to stay organized and maximize my luggage space with packing cubes. Not only will it make unpacking easier, but it will also allow me to utilize all the space in my carry-on luggage, which I typically fill to the brim. Plus, I imagine repacking my clothes in organized cubes will make unpacking all the easier when I return home. This set of eight includes four different-sized packing cubes, a pouch for socks or other miscellaneous items, a drawstring laundry bag, a cosmetics bag, and a shoe bag. The complete set has been purchased over 20,000 times in the last month, and it's 42 percent off, bringing the price to $14 for a limited time. I'm heading to the Hamptons for the Fourth of July, and a beach towel is already on my packing list. Typically, I pack a thick, cotton towel that takes up way too much luggage space, but this year I'm ditching that for a lightweight alternative. This Turkish beach towel is made with a quick-drying material that absorbs moisture and repels sand. The extra-large towel folds up tightly and slips into a carrying case that takes up minimal space in both my suitcase and my beach bag. An Amazon shopper who calls the top-rated towel a 'vacation must-have' confirms the compact design by writing that it 'takes up way less space in a suitcase or beach bag compared to a traditional towel.' Meanwhile, another reviewer wrote, 'They're so soft and dry quickly, and no messy sand stuck to them.' I already have the aqua blue shade in my shopping cart, and for $8 each, I might pick up a few for my friends, too. Few things irritate me more than reaching for my phone charger only to find it tangled in a ball of cords. This summer, I'm challenging myself to keep all my cords neat and tangle-free with a travel-friendly cable organizer—specifically this top-rated option from Amazon. The double-layer carry case has mesh pockets that can accommodate my phone charger, computer charger, Kindle charger, portable charger, and wired headphones, with room to spare. It's available in 23 color options, and I'm eyeing the bright pink shade for a splash of color that will be easy to spot in my carry-on bag. The cord organizer has over 3,000 perfect ratings, and one shopper dubbed it a 'total game-changer' for travelers. It's on sale for just $10 right now, so it's the perfect time to pick one up before my next trip. In the summer, there's nothing better than sipping ice-cold water in the sweltering heat, but believe it or not, I don't have a go-to insulated water bottle that I travel with. I would bring my Stanley cup, but the straw isn't conducive for traveling, and my gigantic Hydro Flask is just too big to pack in my carry-on. Although I try my hardest, sometimes I end up resorting to a plastic water bottle when I'm on the go, but I'm changing that with this Owala stainless steel water bottle. The 24-ounce bottle is the ideal size for travel, with a covered, leak-proof sip top. What truly sold me is the double-wall insulated interior, which keeps drinks cold up to 24 hours. Love a great deal? Sign up for our T+L Recommends newsletter and we'll send you our favorite travel products each week.
NHK
27-05-2025
- Business
- NHK
Japan wants residents to visit their country's tourism spots
A Japanese government white paper on tourism is calling for efforts to boost domestic travel. Local residents have been taking fewer trips since the COVID pandemic. That's in contrast to a boom in the number of visitors from overseas. The white paper says Japan hosted the most number of foreign visitors ever in 2024. Their spending was also a record high. Japanese opened their wallets too, spending a record 25.1 trillion yen, or roughly 175 billion dollars, on their domestic trips last year. But the number of travelers was down 8.2 percent compared to 2019, before the pandemic took hold. The government report blames the country's shrinking and aging population and declining birthrate. One idea is to attract repeat visitors through programs where they can interact with local residents. Seven municipalities are collaborating in one such initiative, called Yukiguni. A woman from Tokyo experienced rice planting in Niigata Prefecture last week. The accommodation fee was free in exchange for the work. She says she was so moved that she wants to come back to harvest rice. The organizer says the tour fosters a sense of affection for the area among participants as they can contribute locally. Another benefit is that the visitors can help with the region's labor shortage through their interactions with local people.
Yahoo
24-05-2025
- Yahoo
Memorial Day weekend will see a surge in road trips with record-breaking travel expected
The number of domestic travelers in the U.S. is expected to break a record for Memorial Day weekend that was set in 2005. AAA anticipates that 45.1 million people will travel 50 miles or more from home over the weekend, an increase of 1.4 million travelers compared to last year. Trump's budget bill touts 'no tax on overtime.' But he just made it harder for millions to earn overtime in the first place Tesla's Cybertruck is officially a flop Can mozzarella sticks save America's fast-casual restaurants? Those traveling by car see the biggest difference, with more than a million extra travelers expected on the roads compared to last year. While 87% of travelers choose to take road trips during Memorial Day weekend, this year, they're also aided by the lower crude oil prices making gasoline cheaper nationwide. (Typically, gas prices will peak in the summer as the busy travel season commences. You can avoid price hikes by staying away from the gas stations closest to the interstate, and optimizing your fuel economy.) As for traffic, AAA expects peak congestion in the afternoons all weekend, with the best travel times in the mornings. Get out early if you can, and on Monday, try to get back home before 2 p.m. Airports will also see a more crowded weekend than last year, with AAA projecting 3.61 million air travelers. In 2024, 3.55 million passengers chose flight as their preferred mode of travel, a difference of nearly 2% compared to the projection for this year. However, flights are more expensive than last year, with the average roundtrip ticket price costing $850. Popular destinations include Chicago, New York, Orlando, Denver, and Seattle. (If you're planning to travel by air, follow the recommended airport arrival time of at least two hours before your domestic flight.) Other modes of transportation travelers are utilizing this weekend include trains, buses, and cruises. Those have increased 8.5% compared to last year's numbers, with cruises seeing a high demand for Alaskan destinations for Memorial Day weekend, including Fairbanks, Anchorage, and Juneau. This post originally appeared at to get the Fast Company newsletter:
CBC
24-05-2025
- Business
- CBC
Is Moose Jaw the next vacation hotspot? How Canadian tourism might benefit from Canada-U.S. rift
Keith Fowke of Winnipeg often takes his family south of the border for a holiday. But with ongoing tariff unpredictability and annexation threats coming from U.S. President Donald Trump, Fowke says he won't step foot in the country this year. Instead, he's planning a family road trip, possibly to the Royal Tyrrell Museum — a.k.a. the Dinosaur Museum — in Drumheller, Alta. "You know, going on the No. 1 highway, that's a very Canadian thing to do. And, you know, there's some smaller communities around Drumheller, so we can plan things out a little bit," Fowke told CBC Radio's Cost of Living. "We're going to spend our dollars in Canada where, you know, people might be having economic hard times and we want to put our dollars where it can help Canadians." Fowke isn't the only one. The last few months have shown a drastic drop in Canadian travel across the border, whether for business or pleasure. And many in the domestic tourism industry — including in Fowke's hometown — say some of the less obvious locations, including small towns, could benefit the most. "I believe in both Canada and the U.S., when they're thinking of travelling to Canadian cities, they quite often think of MTV: Montreal, Toronto, Vancouver," said Tyler Walsh, director of marketing for Winnipeg's economic development including tourism. "And it's cities like Winnipeg that I think have to work a little bit harder, and maybe be a little more creative, to really make an impact." Canadians 'afraid to go to the U.S.' Christine Chettiar runs a bed and breakfast in Bathurst, N.B., that can accommodate about 30 people at a time. She says she's currently fully booked for the summer, which doesn't usually happen until the end of August. Canadians "are afraid to go to the U.S.," she said bluntly. "I have some clients that ... say, 'Well, you know, we're not going to travel to the U.S.,' because ... they hear on the news they might lock you up." Reports of checkpoints being set up along the U.S.-Canada border, and one Canadian's tale of being detained for 11 days by U.S. immigration, have further fuelled travel fears. Chettiar herself shelved what would have been a regular trip to see friends in Miami. The Trump factor, she says, is affecting where people on both sides of the border are planning to stay. "I think he's a lunatic," she said. "U.S. people are very, very nice people and we have good friends there. We have family there, and so they are coming to visit us instead." Wayne Smith, a professor of tourism at Toronto Metropolitan University, says people are taking the change in cross-border relations to search for something a little more off the beaten track this summer. "You can go to Toronto anytime, you can go to Vancouver anytime, but you're not always going to go to, you know, Wawa [in northern Ontario]. And [those that do are] getting an experience that's very different," he said. Beyond MTV (Montreal, Toronto, Vancouver) Several cities are calibrating their ad campaigns to take advantage. Take Winnipeg, which describes itself as "Canada's middle child" in a new tourism campaign. It even includes a mascot named Winnie Fred, who is shaped like the city's boundaries, that appears on billboards. "There's a little of a wink and a nod and obviously a sense of humour with this whole thing that we're very excited," said Walsh. Recent tourism ads for Newfoundland and Labrador feature expected images like icebergs, but they also focus on the province's small-town residents most likely to be taking in tourist dollars. The plan appears to be working. Marine Atlantic, the ferry service that takes visitors to the west coast of Newfoundland, told Cost of Living it has 7,000 more bookings compared to this time last year. Steve Crocker, the province's minister of tourism, culture, arts and recreation, says it's a "bucket-list destination" for many Canadians, and that since so many of them are reconsidering plans to visit the U.S., they're finally making plans to mark it off their list. "You are affecting really local businesses, mom-and-pop shops, businesses with, you know, two and three and four employees," said Crocker. "That's who you will spend a lot of your time supporting if you come to Newfoundland and Labrador." Wooing American tourists, too Moose Jaw, Sask., is also taking a cheeky tone in its tourism push this year — but it features Mayor James Murdock promoting the city to possible American tourists. The video features Mac the Moose — a giant sculpture that at 10.36 metres is recognized as the largest moose in the world — and the city's moniker as "Canada's most notorious city." That's mostly a reference to its underground tunnels, which have been the focus of many rumours, including one that gangsters like Al Capone used them to smuggle booze during Prohibition. Donna Fritzke, the city's director of tourism, says visits last year contributed $134 million to the local economy, with about $18 million coming specifically from Americans. But she's also seeing growing interest among Canadians. "We're really excited about it, because from what we've been hearing, people do want to stay closer to home and visit, you know, their own backyard." Dennis Campbell, CEO of the Ambassatours Grey Line, which runs boat cruises and sightseeing tours across the Maritimes, says business has been up by around 40 per cent overall compared to last year. The biggest increase is from Canadian tourists, followed by Europeans and then Americans. Part of that is the favourable exchange rate, due to the weak Canadian dollar right now. But in the past few weeks, he said he's had to entertain unusual questions from Americans, although perhaps understandable given the current political climate. "We've started to get the question from several of the customers saying, 'Will we be welcome?' And of course, the answer is, 'Yes, of course you will,'" he said. "As Canadians, as Maritimers, that's who we are. And we're just very, very friendly, hospitable people. It's in our DNA. And so even in challenging times, it's nice to see that people stand by their values and continue to be welcoming to our friends and visitors from everywhere." Keith Fowke in Winnipeg says he's still in the early phases of planning all the stops for his summer road trip, but he knows one thing: he won't be alone staying closer to home. "Now is a good time to get off our butts and go see our local tourism spots," he said.
