Business Highlights: Business travelers, drifting stocks
2 years, 3 months ago

Business Highlights: Business travelers, drifting stocks

Associated Press  

___ Airlines count on business travelers to keep recovery going DALLAS — The summer vacation season is winding down, and for airlines that means the return of business travelers is very important. ___ Stocks drift lower, extending losses into 4th straight week NEW YORK — Stocks drifted lower on Wall Street, extending the market’s losses into a 4th straight week. ___ Bed Bath & Beyond names Laura Crossen as interim CFO NEW YORK — Bed Bath & Beyond has named its Chief Accounting Officer, Laura Crossen, as interim chief financial officer following the death of Gustavo Arnal. ___ CVS Health moves closer to home care with $8B Signify deal NEW YORK — CVS Health will pay about $8 billion to expand into home care, a practice that could cut costs and keep patients happy, provided they get the help they need. ___ Australia central bank lifts cash rate to 2.35% in 5th hike CANBERRA, Australia — Australia’s central bank has boosted its benchmark interest rate for a fifth consecutive month to a seven-year high of 2.35%.The Reserve Bank of Australia’s decision on Tuesday was the cash rate’s fourth consecutive hike of half a percentage point.

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History of this topic

Europe’s airlines lose grip on business travel rebound
1 year, 4 months ago

Europe’s airlines lose grip on business travel rebound

Hindustan Times  

Europe’s long-awaited recovery in corporate travel keeps getting pushed back. Europe’s airlines lose grip on business travel rebound Since the end of the coronavirus pandemic, the region’s biggest airline groups have been counting on corporate warriors to head back to the skies. Although most airlines didn’t expect business travel to fully recover post-pandemic, they predicted it would bounce back to …

Small and medium companies to boost business travel rebound in 2023
1 year, 11 months ago

Small and medium companies to boost business travel rebound in 2023

Live Mint  

New York excavation contractor Brian Dietz does not view higher air fares as a deal-breaker for flying and airlines are seeing more small and medium size companies like his feeding a 2023 rebound in business travel. Booking activity by SMEs hit 80% of 2019 levels during the third quarter of 2022, 19 percentage points above multinational corporations, according to American …

Southwest forecasts a slower recovery in business travel
2 years, 3 months ago

Southwest forecasts a slower recovery in business travel

Associated Press  

DALLAS — Southwest Airlines said Thursday that corporate travel is recovering more slowly than the airline had expected, although that is offset by continuing strong demand from leisure travelers even after the end of the traditional summer vacation season. Southwest said revenue from “managed” business travel in the quarter ending Sept. 30 will be down 26% to 28% from 2019 …

Airlines count on business travelers to keep recovery going
2 years, 3 months ago

Airlines count on business travelers to keep recovery going

Associated Press  

DALLAS — With summer vacations winding down, airlines are counting on the return of more business travelers to keep their pandemic recovery going into the fall. The Global Business Travel Association recently predicted that corporate travel won’t fully return until mid-2026, 18 months later than the trade group had previously forecast. That is slowly building back.” Conventions and other big …

US airlines say they’ve reached a turning point in recovery
2 years, 8 months ago

US airlines say they’ve reached a turning point in recovery

Associated Press  

DALLAS — U.S. airlines say they have hit a turning point: After a lousy first quarter, they expect to be profitable as Americans return to travel in the biggest numbers since the start of the pandemic. American said Thursday that although it lost $1.64 billion in the first quarter, sales hit a record in March, and the company expects to …

When will business travel return?
2 years, 10 months ago

When will business travel return?

LA Times  

Southwest Airlines Co.’s top executive hinted in an earnings call that business travel might not recover as quickly as anticipated a year ago. Southwest Airlines Co.’s top executive rued the slow rebound in business travel in an earnings call Thursday and hinted that the pace of recovery may continue to be slower than some industry veterans anticipated a year ago. …

Business travelers, expect more Zooms and few trips this fall
3 years, 3 months ago

Business travelers, expect more Zooms and few trips this fall

Live Mint  

The return to work isn’t happening as expected this fall. Business travel isn’t all salespeople on the road meeting with clients and pursuing new ones, or people attending conventions and trade shows. HRS Group, a London-based business travel company that helps big companies negotiate discounts at hotels, says it believes business travel next year will be down 30% compared with …

As airlines flirt with profitability, analysts say it’s time for investors to climb aboard
3 years, 5 months ago

As airlines flirt with profitability, analysts say it’s time for investors to climb aboard

CNN  

New York CNN Business — The US airlines reported yet another round of quarterly losses. Of the 140 recommendations on the nation’s eight largest airline stocks by airline analysts, more than half were “buy” or “strong buy” recommendations. While Delta said leisure travel is back and actually up from pre-pandemic levels, the most lucrative part of the airlines business is …

Planes are filling up and tickets are very expensive
3 years, 7 months ago

Planes are filling up and tickets are very expensive

CNN  

New York CNN Business — Americans making summer vacation plans are about to find airfare costs are near or even above pre-pandemic levels, according to the nation’s major airlines. “Domestic leisure will be 100% restored by June, with … bookings ahead of 2019 levels and yields essentially recovered,” said Glen Hauenstein, president of Delta Air Lines, speaking at the Wolfe …

Business travel has disappeared. Will it ever come back?
3 years, 7 months ago

Business travel has disappeared. Will it ever come back?

CNN  

London CNN Business — Book tickets. “For a lot of people, frequent business travel has become more of a burden than a perk,” said Scott Cohen, a professor at the University of Surrey in England who studies business travel. Travelers walk through Ronald Reagan National Airport in Washington, D.C. Andrew Harrer/Bloomberg/Getty Images The International Air Transport Association, which represents 290 …

5 big signs that travel is roaring back
3 years, 9 months ago

5 big signs that travel is roaring back

CNN  

New York CNN Business — Vacation deprivation is about to be replaced by a travel boom, according to Expedia CEO Peter Kern. He told CNN’s Julia Chatterley earlier this week that people are beginning to think about their future travel “very quickly.” Reservations on the travel website for some parts of the United States this summer are “all booked up” …

Covid-19’s blow to business travel is expected to last for years
3 years, 11 months ago

Covid-19’s blow to business travel is expected to last for years

Live Mint  

The coronavirus pandemic delivered a lingering, and possibly permanent, hit to business travel that is likely to weigh on employment and economic growth in some communities for years. Domestic and international business travelers in the U.S. directly spent $334.2 billion in 2019, supporting 2.5 million jobs, according to the U.S. Travel Association. Delta Air Lines Inc. Chief Executive Ed Bastian …

Stocks week ahead: Saying goodbye to a wild 2020
3 years, 11 months ago

Stocks week ahead: Saying goodbye to a wild 2020

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. New York CNN Business — We’re hoping to shelve the word ‘unprecedented’ for a while as 2021 gets underway — but first, one final look at a 2020. President-elect Joe Biden’s plans to get the economy back on track will help markets next year, even if …

From restaurants to retailers, virus transformed economies
4 years ago

From restaurants to retailers, virus transformed economies

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Within weeks, he’d changed his mind, broke Thimble’s lease …

Airlines will struggle long after passengers feel safe to fly again
4 years, 1 month ago

Airlines will struggle long after passengers feel safe to fly again

CNN  

New York CNN Business — The Covid-19 pandemic has caused the worst financial crisis in the history of the airline industry. “Business travel typically falls farther and takes longer to recover,” said Adam Sacks, president of Tourism Economics. “We have to assume that business travel will be lighter for a long time,” said Southwest CEO Gary Kelly in an interview …

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