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News to Know
Business Travel Is Back – Demand Is 'Amazing'
SOURCE: INVESTOPEDIA, 1/22
Business travel is taking off, providing major airlines with a much-needed lift.
The year is off to a "very strong start, but in particular, business volumes have gotten off, and are just really compelling," United Airlines (UAL) Chief Commercial Officer Andrew Nocella said during a conference call after the carrier released its quarterly results this week, according to a transcript made available by AlphaSense.
United said that corporate ticket sales are a high-single-digit percentage above where they were a year ago. Nocella said this "pretty amazing" business demand is expected to continue, factoring into the company's forecast that earnings in the first quarter will rise 37% versus last year.
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