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Corporate travel mixed messages
Corporate demand for the higher-priced carriers is returning, but travel managers are also looking to spend less, according to a new study.
The quarterly survey of corporate travel managers done by Smith Barney analyst Michael Reitbrook shows that 67.7% of those surveyed expect 2005 travel spending to exceed this year.
Another almost 60% see their current 2005 travel spending outlook to be improving.
But just over 37% of travel managers see their use of nonrefundable fares rising, up from 14% in the last survey. Only 2.9% expect to reduce their use of deeply discounted seats.
Eighty percent of respondents say their companies are boosting their use of low-cost carriers, up from 62% in the last survey. Another 54.3% say their firms increasingly are substituting teleconferencing and/or video conferencing for business travel.
Report by David Wilkening
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