The summer vacation season is winding down and, for airlines, that means the return of business travelers is important to keep the recovery going.
— raises concern about how long vacationers can afford to keep flying at their current pace. Airlines say they see no signs of a slowdown in leisure travel.
“On the corporate side, it just takes a little more to restart that because there are so many moving parts,” Thackston said. “If you want to go visit clients in New York, it could be that nobody is in the office in New York. That is slowly building back.” The chief commercial officer of Southwest Airlines, Andrew Watterson, said that since business travel began picking up this spring, “it was skewed toward smaller businesses and government and education were traveling. Our largest corporates are the ones that are lagging, particularly banking, consulting and technology.”
The nature of business travel is changing as companies become accustomed to smaller travel budgets. Some trips are being replaced by video calls, perhaps permanently. Speculative sales trips could be especially easy for companies to cut. Standard & Poor’s said this week that many convention center operators are running summer and fall schedules similar to those in 2019, but a recession or new COVID-19 variant are still risks.Vasu Raja, chief commercial officer at American Airlines, said demand has dropped for one-day business trips in which someone leaves in the morning and flies home that evening.
The widespread availability of vaccines and better treatment of COVID-19 — along with relaxation of mandatory quarantines and other travel restrictions — have boosted leisure and corporate travel. However, travel is now threatened by deteriorating economic conditions including surging inflation and labor shortages. New COVID-19 variants remain a concern among travel managers, particularly in Asia.
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