Business travel is on the mend, according to a new study from the World Travel and Tourism Council and McKinsey & Company consultants. The latest WTTC/McKinsey report suggests that, following a 61% decline in 2020, global business travel spending is expected to rise by 26% this year and by 34% in 2022. Overall, they expect business travel to recover to two-thirds of 2019 levels by next year. But the report, titled Adapting to Endemic Covid-19: The Outlook for Business Travel, says recovery will vary by region. In the Asia-Pacific region, business travel is expected to rise 32% this year and Read more
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Air Canada says it’s encouraged by “strong increases” in key passenger markets in the third quarter. In a quarterly financial statement released today (Nov. 2), Canada’s largest airline reported operating revenues of $2.103 billion, representing almost three times the operating revenues of $757 million in the third quarter of 2020. Other highlights include Operating loss of $364 million, compared to an operating loss of $785 million in the third quarter of 2020 Negative EBITDA(1) (earnings before interest, taxes, depreciation, and amortization), excluding special items, of $67 million compared to negative EBITDA (excluding special items) of $554 million in the same Read more
