In certain sub-sectors — luxury and cruise spring to mind — travel agents still play a big part in driving sales. Hoteliers and tour operators know this and are happy to splash the cash in order to get some of their business.
Thomas Cook, the man, organized his first trip in 1841, and the travel company that bears his name is still going. After a series of mergers and acquisitions the company now has 17 key brands to focus on. Read our take on each.
IAG is still willing to play the long game with Norwegian. If the price of fuel keeps rising, you'd imagine that the acquisition price would come down.