Last year SAS, Scandinavian Airlines was Europe's most punctual airline, and the major carrier topped this record again this summer by achieving the ranking as the world's most punctual airline, according to statistics by FlightStats Analytics.

In mid-summer, 14,312 of 15,840 SAS flights were on time, resulting in the 90% punctuality score. Following SAS were KLM (84.5%) and Norwegian (83.25%).

Mats Jansson, the CEO of Scandinavian Airlines, has indicated that he will step down as CEO when his contract expires in 2011. The entire airline industry as a whole has faced mounting challenges in the current economy as both business travelers and tourists have cooled to flying in favor of cheaper alternatives. Chairman of the Board, Fritz Schur, applauds Mr. Jansson for his tenure during the troubled times, which many now believe is ending. Jansson himself touts the improving financials of the company, which is headquartered in Solna, Sweden.

In other travel related news, Scandic Hotels will shortly be opening new flagship hotels in Stockholm, Oslo, Helsinki, Hamburg and Berlin. Swedish private equity firm EQT acquired Scandic from Hilton Hotel Corporation for Ä 833 million ($1,060,000) in 2007. Scandic today has more than 150 hotels in ten countries.

A former executive of SAS, Anders Ehrling, a 23 year SAS veteran, will serve as the President and CEO of Scandic starting in September. "We will continue the journey of taking a strong brand to new heights. Itís an inspiring task that fills me with enthusiasm," commented Ehrling.