Airlines Still Have It Better Than Chinese Companies

gray and white airplane on flight near clear blue sky

Image Source: Unsplash

Gasoline prices are on the rise to a national average of $3.19 per gallon, according to GasBuddy. And it will probably head higher from here as people take advantage of the remaining summer months.

Demand is definitely at its highest level this year, with plenty of people taking to the road for the vacations they’ve been dreaming of. Considering the continuing airline issues going on due to lack of staffing and who-knows-what-else, they’re probably the wise ones. American Airlines (AAL) was the one to make the negative news list the most as of late. But a much more “economic” competitor is taking the brunt of the heat now.

Spirit Airlines (SAVE) had to come out recently and admit that, “This is not our proudest moment,” amid more cancellation drama. According to USA Today, CEO Ted Christie blamed the 1,700+ flight cancellations on what boiled down to a crew shortage.

Since that’s precisely what American Airlines is saying as well, I have to wonder why these companies are offering as many flights as they are in the first place? To an outsider, at least, it doesn’t many any sense.

Meanwhile, across the big pond – the biggest one – The Communist Party of China has locked in on its next big-business target: food delivery giant Meituan (MPNGY). The accusation is that it’s acting like a bully monopoly. The punishment is about a $1 billion fine.

That’s still significantly less than the $2.8 billion fine on Alibaba (BABA) in April. Then again, Meituan isn’t worth as much. Though, once again, we’re talking about a company with billions of foreign investment backing it. Speaking of Alibaba, that big tech company is now saying that its industry won’t be enjoying the same tax breaks it once did going forward. In short, the crackdown continues.

The World According to REITs

Another solid 16 real estate investment trusts (REITs) reported their Q2 earnings recently amidst several bouts of smaller news. For instance, Tanger (SKT) priced $400 million of 2.75% notes due 2031 to redeem its 3.875% and 3.75% senior notes due 2023 and 2024, respectively. And Four Corners Property Trust (FCPT), Indus Realty Trust, and Braemar Hotels & Resorts (BHR) made property purchases.

1 2
View single page >> |

Brad Thomas is the Editor of the Forbes Real Estate Investor.

Disclaimer: This article is intended to provide information to interested parties. As ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.