ebook selling strategy internet trading make money wth internet easily the best strategy.
good ebook, unique topic content.
sell the ebook.
Kamis, 26 Maret 2009
Kamis, 12 Maret 2009
Economy to hurt business travel, foreign visitors
Current economic conditions are likely to pressure business travelers and visitors coming to the U.S. in 2009, according to the latest outlook from the Travel Industry Association.
Business travel volume is predicted to drop 3.7 percent this year and 2.7 percent in 2009 as companies pull back on their employees' trips, the group stated.
The leisure sector has been squeezed as consumers and companies tighten their spending due to diminishing credit, the ongoing housing downturn and recession worries. Consumers have continued to downsize their vacations or take "staycations," while businesses scale back on their plans.
Meanwhile, international arrivals to the U.S. are expected to drop by 3 percent next year with modest growth anticipated for 2010.
"As the dollar gains strength and the global economy cools, the need to make America more attractive to international travelers grows," Suzanne Cook, senior vice president of research for the Travel Industry Association, said in a statement.
Business travel volume is predicted to drop 3.7 percent this year and 2.7 percent in 2009 as companies pull back on their employees' trips, the group stated.
The leisure sector has been squeezed as consumers and companies tighten their spending due to diminishing credit, the ongoing housing downturn and recession worries. Consumers have continued to downsize their vacations or take "staycations," while businesses scale back on their plans.
Meanwhile, international arrivals to the U.S. are expected to drop by 3 percent next year with modest growth anticipated for 2010.
"As the dollar gains strength and the global economy cools, the need to make America more attractive to international travelers grows," Suzanne Cook, senior vice president of research for the Travel Industry Association, said in a statement.
Airlines baggage policies
Baggage policies differ by airlines. Read the rules on the carrier's Web site or ask an agent before you fly. Here are fees that some leading U.S. carriers charge for a first, second and third checked bag, plus special rules for ski equipment on domestic flights. Note that most airlines waive baggage fees for elite members of frequent-flier programs, first- and business-class travelers and full-fare coach passengers.
• American Airlines: $15, $25 and $100 for first, second and third checked bag. Skis are not normally considered oversize but count as one checked bag. Ski boot bag counts as a second bag.
• Delta Air Lines: $15, $25 and $125. Ski bag and boot bag count as one piece of luggage; no oversize fee but can be charged $90 and up if they exceed 50 pounds.
• United Airlines: $15, 25 and $125. Ski bag and boot bag count as one piece of luggage; no oversize fee but can be charged $125 if they exceed 50 pounds. Only boots and binding allowed in boot bag.
• Continental Airlines: $15, $25 and $100. Ski bag and boot bag up to 50 pounds count as one piece of luggage; so does a bag with one or two snowboards. Boot bag can't exceed 62 inches in length, width and height combined.
• Southwest Airlines: $0, $0 and $25. One pair of skis, poles and boots count as one item; one snowboard and pair of boots also count as one item. Skis longer than 62 inches are charged a $50 oversize fee, according to a Southwest spokeswoman.
A breakdown of revenue at the average U.S. ski resort:
• Lift tickets, 46.1 percent.
• Food and beverage, 13.3 percent.
• Lessons, 10.6 percent.
• Retail, 6.1 percent.
• Rentals, 4.2 percent.
• Snowplay and tubing, 1.9 percent.
• Property leases, 1.3 percent.
• Other, 6.8 percent.
Sources: Airline Web sites and officials; National Ski Areas Association.
• American Airlines: $15, $25 and $100 for first, second and third checked bag. Skis are not normally considered oversize but count as one checked bag. Ski boot bag counts as a second bag.
• Delta Air Lines: $15, $25 and $125. Ski bag and boot bag count as one piece of luggage; no oversize fee but can be charged $90 and up if they exceed 50 pounds.
• United Airlines: $15, 25 and $125. Ski bag and boot bag count as one piece of luggage; no oversize fee but can be charged $125 if they exceed 50 pounds. Only boots and binding allowed in boot bag.
• Continental Airlines: $15, $25 and $100. Ski bag and boot bag up to 50 pounds count as one piece of luggage; so does a bag with one or two snowboards. Boot bag can't exceed 62 inches in length, width and height combined.
• Southwest Airlines: $0, $0 and $25. One pair of skis, poles and boots count as one item; one snowboard and pair of boots also count as one item. Skis longer than 62 inches are charged a $50 oversize fee, according to a Southwest spokeswoman.
A breakdown of revenue at the average U.S. ski resort:
• Lift tickets, 46.1 percent.
• Food and beverage, 13.3 percent.
• Lessons, 10.6 percent.
• Retail, 6.1 percent.
• Rentals, 4.2 percent.
• Snowplay and tubing, 1.9 percent.
• Property leases, 1.3 percent.
• Other, 6.8 percent.
Sources: Airline Web sites and officials; National Ski Areas Association.
Southwest won't increase fleet next year
The chief executive of Southwest Airlines Co. said Tuesday that travel demand slumped sharply in November and the growth-happy carrier won't expand its fleet next year.
Chairman and CEO Gary Kelly also said Southwest plans to cut capacity early next year, although not quite as sharply as the airline had previously said.
"October was a bang-up month, almost unexplainably strong," Kelly said. "The trends changed in November" after the stock market meltdown.
"Obviously we're concerned about the economy," Kelly said, but he added he doesn't expect another sharp decline in U.S. travel this month.
Kelly said Southwest's new schedule out in January will include a capacity cut of 4 to 5 percent in the first quarter, slightly less than the airline's previous goal of a 5 to 6 percent reduction.
In recent months, other U.S. carriers have cut capacity sharply, which Southwest viewed as an opening for its own expansion. But traffic hasn't kept up with Southwest's ambitious plans.
Earlier Tuesday, Dallas-based Southwest reported that the number of paying passengers in November fell 10.7 percent from a year ago while its supply of seats stayed about the same.
The airline carried about 6.5 million passengers last month, down from 7.3 million a year ago. The average plane was 63.2 percent full, down 6.1 percentage points from November 2007. Miles flown by paying passengers dropped 8.3 percent, to 5.26 billion.
Southwest's capacity measured in miles flown times available seats rose 0.4 percent over November 2007.
Kelly, speaking to a Credit Suisse investor conference in New York, said Southwest plans to take delivery of 13 new Boeing 737 jets next year.
Southwest already planned to retire three and now must "manage" 10 others — he didn't specify what it would do with the planes — to keep the fleet at its current size.
The company is also wiggling out of some of its famous fuel-hedging positions, agreements that allowed it to buy fuel at below-market prices the last several years. Southwest said the strategy has saved it $4.2 billion, but the value of those hedges has fallen because of the steep drop in oil prices since the summer.
Southwest has hedged 63 percent of its 2009 fuel supply, down from 75 percent, and is looking to reduce that further, Kelly said.
Southwest shares rose 25 cents, or 3.2 percent, to $8.18 in afternoon trading.
Chairman and CEO Gary Kelly also said Southwest plans to cut capacity early next year, although not quite as sharply as the airline had previously said.
"October was a bang-up month, almost unexplainably strong," Kelly said. "The trends changed in November" after the stock market meltdown.
"Obviously we're concerned about the economy," Kelly said, but he added he doesn't expect another sharp decline in U.S. travel this month.
Kelly said Southwest's new schedule out in January will include a capacity cut of 4 to 5 percent in the first quarter, slightly less than the airline's previous goal of a 5 to 6 percent reduction.
In recent months, other U.S. carriers have cut capacity sharply, which Southwest viewed as an opening for its own expansion. But traffic hasn't kept up with Southwest's ambitious plans.
Earlier Tuesday, Dallas-based Southwest reported that the number of paying passengers in November fell 10.7 percent from a year ago while its supply of seats stayed about the same.
The airline carried about 6.5 million passengers last month, down from 7.3 million a year ago. The average plane was 63.2 percent full, down 6.1 percentage points from November 2007. Miles flown by paying passengers dropped 8.3 percent, to 5.26 billion.
Southwest's capacity measured in miles flown times available seats rose 0.4 percent over November 2007.
Kelly, speaking to a Credit Suisse investor conference in New York, said Southwest plans to take delivery of 13 new Boeing 737 jets next year.
Southwest already planned to retire three and now must "manage" 10 others — he didn't specify what it would do with the planes — to keep the fleet at its current size.
The company is also wiggling out of some of its famous fuel-hedging positions, agreements that allowed it to buy fuel at below-market prices the last several years. Southwest said the strategy has saved it $4.2 billion, but the value of those hedges has fallen because of the steep drop in oil prices since the summer.
Southwest has hedged 63 percent of its 2009 fuel supply, down from 75 percent, and is looking to reduce that further, Kelly said.
Southwest shares rose 25 cents, or 3.2 percent, to $8.18 in afternoon trading.
Major airlines ready to cut more flights in 2009
Executives of major U.S. airlines, already seeing signs of slumping travel demand, said Tuesday they were ready to cut more flights, and Delta hinted at more job losses as the carriers jockey to survive the deepening recession.
U.S. airlines have been helped by a sudden drop in jet fuel prices, and they already cut capacity this fall to further reduce costs and drive up fares.
But traffic has fallen even faster than the supply of seats, especially since the stock market went into a nosedive.
"October was a bang-up month, almost unexplainably strong," said Southwest Airlines Co. Chairman and Chief Executive Gary Kelly. "The trends changed in November."
Delta Air Lines Inc., the world's largest carrier, said it will reduce overall capacity another 6 to 8 percent next year. Delta and its Northwest Airlines unit will cut U.S. capacity 8 to 10 percent.
In a memo to employees, Delta CEO Richard Anderson and President Ed Bastian said they are analyzing the impact of reduced flying on jobs, and "as in the past, we will offer voluntary programs to adjust staffing needs." They did not elaborate.
Earlier this year, Delta sharply cut U.S. capacity and aimed to cut 2,000 jobs, although more than 4,000 workers took voluntary severance. Delta and Northwest have 75,000 employees.
American Airlines and its feeder carrier American Eagle plan to cut capacity 6 percent next year, with an 8.5 reduction in U.S. flying by American itself, said Beverly Goulet, treasurer of parent AMR Corp.
Even Southwest, which saw the pullback of other airlines as an opportunity for growth, is cutting capacity. Kelly said Southwest would drop unprofitable routes and trim first-quarter capacity 4 to 5 percent, although that's slightly less than the airline's previous goal of a 5 to 6 percent reduction.
Analysts have already factored in some further cuts in capacity. But Ray Neidl, an analyst for Calyon Securities, said "demand seems to be falling a little more than expected."
The economic slowdown has hurt demand for the airlines' most lucrative seats.
United said it would reconfigure its international planes to cut the number of premium seats by 20 percent while adding seats in coach. Continental Airlines Inc. said it too was seeing weaker demand for first- and business-class seats on international flights, which had been a relatively strong part of the business.
Executives speaking at a Credit Suisse investor conference in New York also vowed to raise more cash to head off a financial crisis.
Kathryn Mikells, the chief financial officer of United parent UAL Corp., said the company will raise about $300 million in cash during the fourth quarter. The company said Monday it plans to sell up to $200 million in new stock partly to pay down debt.
Falling oil prices help airlines by lowering the price of jet fuel. But some carriers have been forced to put up new collateral on hedging deals that they struck to protect themselves from high-priced fuel.
Delta's Bastian said his airline hasn't been able to fully realize the benefit of the steep drop in fuel prices because of bad bets on hedges when oil was more than $140 a barrel over the summer.
Based on the current price of oil around $47 a barrel, Delta is expected to be forced to put up $1.1 billion in cash collateral at the end of December to cover those hedges. Every $5 drop in oil prices means Delta must put up another $130 million in collateral, Bastian said.
Last week, UAL said it expected to record $370 million in hedging losses in the fourth quarter. The company mortgaged aircraft leases to get more breathing room on cash reserves from lender Chase Bank.
Despite all the gloom about travel demand, airline stocks rose Tuesday on another decline in oil prices. The benchmark price of oil for January delivery fell $2.32 to settle at $46.96 a barrel on the New York Mercantile Exchange.
Shares of Delta rose 51 cents, or 6.4 percent, to close at $8.47; UAL shares gained 70 cents or 7.8 percent, at $9.64; AMR added 42 cents, or 5.2 percent, at $8.45; Continental rose 91 cents, or 6.6 percent, to $14.78; and Southwest picked up 40 cents, or 5 percent, at $8.33.
___
AP Airlines writers Harry Weber in Atlanta and Josh Freed in Minneapolis contributed to this report.
U.S. airlines have been helped by a sudden drop in jet fuel prices, and they already cut capacity this fall to further reduce costs and drive up fares.
But traffic has fallen even faster than the supply of seats, especially since the stock market went into a nosedive.
"October was a bang-up month, almost unexplainably strong," said Southwest Airlines Co. Chairman and Chief Executive Gary Kelly. "The trends changed in November."
Delta Air Lines Inc., the world's largest carrier, said it will reduce overall capacity another 6 to 8 percent next year. Delta and its Northwest Airlines unit will cut U.S. capacity 8 to 10 percent.
In a memo to employees, Delta CEO Richard Anderson and President Ed Bastian said they are analyzing the impact of reduced flying on jobs, and "as in the past, we will offer voluntary programs to adjust staffing needs." They did not elaborate.
Earlier this year, Delta sharply cut U.S. capacity and aimed to cut 2,000 jobs, although more than 4,000 workers took voluntary severance. Delta and Northwest have 75,000 employees.
American Airlines and its feeder carrier American Eagle plan to cut capacity 6 percent next year, with an 8.5 reduction in U.S. flying by American itself, said Beverly Goulet, treasurer of parent AMR Corp.
Even Southwest, which saw the pullback of other airlines as an opportunity for growth, is cutting capacity. Kelly said Southwest would drop unprofitable routes and trim first-quarter capacity 4 to 5 percent, although that's slightly less than the airline's previous goal of a 5 to 6 percent reduction.
Analysts have already factored in some further cuts in capacity. But Ray Neidl, an analyst for Calyon Securities, said "demand seems to be falling a little more than expected."
The economic slowdown has hurt demand for the airlines' most lucrative seats.
United said it would reconfigure its international planes to cut the number of premium seats by 20 percent while adding seats in coach. Continental Airlines Inc. said it too was seeing weaker demand for first- and business-class seats on international flights, which had been a relatively strong part of the business.
Executives speaking at a Credit Suisse investor conference in New York also vowed to raise more cash to head off a financial crisis.
Kathryn Mikells, the chief financial officer of United parent UAL Corp., said the company will raise about $300 million in cash during the fourth quarter. The company said Monday it plans to sell up to $200 million in new stock partly to pay down debt.
Falling oil prices help airlines by lowering the price of jet fuel. But some carriers have been forced to put up new collateral on hedging deals that they struck to protect themselves from high-priced fuel.
Delta's Bastian said his airline hasn't been able to fully realize the benefit of the steep drop in fuel prices because of bad bets on hedges when oil was more than $140 a barrel over the summer.
Based on the current price of oil around $47 a barrel, Delta is expected to be forced to put up $1.1 billion in cash collateral at the end of December to cover those hedges. Every $5 drop in oil prices means Delta must put up another $130 million in collateral, Bastian said.
Last week, UAL said it expected to record $370 million in hedging losses in the fourth quarter. The company mortgaged aircraft leases to get more breathing room on cash reserves from lender Chase Bank.
Despite all the gloom about travel demand, airline stocks rose Tuesday on another decline in oil prices. The benchmark price of oil for January delivery fell $2.32 to settle at $46.96 a barrel on the New York Mercantile Exchange.
Shares of Delta rose 51 cents, or 6.4 percent, to close at $8.47; UAL shares gained 70 cents or 7.8 percent, at $9.64; AMR added 42 cents, or 5.2 percent, at $8.45; Continental rose 91 cents, or 6.6 percent, to $14.78; and Southwest picked up 40 cents, or 5 percent, at $8.33.
___
AP Airlines writers Harry Weber in Atlanta and Josh Freed in Minneapolis contributed to this report.
Delta lays out new frequent flier rules
Delta Air Lines said on Thursday it will adopt a popular feature of Northwest Airlines' frequent-flier program, as it aims to merge the two reward systems by the end of 2009.
Delta will allow its travelers to qualify for elite status by flying a certain number of segments, in addition to flying enough miles. The segment rule comes from Northwest, which flies many short routes around the Midwest that connect through its hubs. So, a single flight from, say, Minot, N.D., to New York with a stop in Minneapolis would be two segments.
Delta said the new rule will begin Jan. 1. Delta acquired Northwest in a deal that closed Oct. 29 and is working to integrate the two carriers over the next year to two.
Delta said it will add a third tier to Northwest WorldPerks awards. Northwest currently has two tiers for domestic travel, with tickets generally available for 25,000 miles and 50,000 miles. Delta's tiers for domestic travel are 25,000, 40,000, and 60,000 miles.
Delta also said all its frequent fliers will continue to earn at least 500 miles per flight, even when their flight is shorter. Some airlines have begun awarding the actual miles for short flights.
Delta travelers who have both its SkyMiles accounts and Northwest's WorldPerks accounts will be able to transfer miles between them beginning early next year. The carrier expects to merge the two programs entirely late next year.
Delta shares rose 25 cents, or 2.8 percent, to $8.99 in midday trading.
Delta will allow its travelers to qualify for elite status by flying a certain number of segments, in addition to flying enough miles. The segment rule comes from Northwest, which flies many short routes around the Midwest that connect through its hubs. So, a single flight from, say, Minot, N.D., to New York with a stop in Minneapolis would be two segments.
Delta said the new rule will begin Jan. 1. Delta acquired Northwest in a deal that closed Oct. 29 and is working to integrate the two carriers over the next year to two.
Delta said it will add a third tier to Northwest WorldPerks awards. Northwest currently has two tiers for domestic travel, with tickets generally available for 25,000 miles and 50,000 miles. Delta's tiers for domestic travel are 25,000, 40,000, and 60,000 miles.
Delta also said all its frequent fliers will continue to earn at least 500 miles per flight, even when their flight is shorter. Some airlines have begun awarding the actual miles for short flights.
Delta travelers who have both its SkyMiles accounts and Northwest's WorldPerks accounts will be able to transfer miles between them beginning early next year. The carrier expects to merge the two programs entirely late next year.
Delta shares rose 25 cents, or 2.8 percent, to $8.99 in midday trading.
Airline traffic fell 8.4 percent in September
The number of passengers on U.S. airlines fell 8.4 percent in September, a decline of 5 million passengers from the year-earlier month, the Transportation Department said Thursday in the latest evidence of weakening travel demand.
The department said preliminary findings indicate that 54.2 million passengers rode on domestic or international flights operated by U.S. airlines in September. It was the seventh straight monthly decline from the same month in 2007.
Miles flown by paying customers, a key indicator in the airline industry, fell 6.9 percent as the average trip was longer than a year ago, the department said.
The report also showed the effect of airline cutbacks that picked up in September, when carriers cut capacity to deal with then-high fuel prices. In September, U.S. airlines operated 9.4 percent fewer flights than a year earlier.
The preliminary figures from the department's Bureau of Transportation Statistics confirmed reports from the carriers themselves about weakening travel demand. Airline officials have said the sharpest declines occurred in October and November, after the most recent government figures were compiled.
The number of U.S. passengers in the first nine months of the year has fallen 2.1 percent compared with the same period of 2007.
For September, Southwest Airlines Co. continued to carry the most passengers, 7.4 million. However, Delta Air Lines Inc. and its newly acquired Northwest Airlines unit together carried 9.1 million passengers.
Among U.S. carriers, AMR Corp.'s American Airlines carried the most international passengers, at 1.5 million, although Delta and Northwest together carried more, 1.8 million. UAL Corp.'s United Airlines and Continental Airlines Inc. each carried more than 800,000 international passengers.
The busiest U.S. airport in the first nine months of the year was Atlanta Hartsfield-Jackson International, followed by Chicago's O'Hare Airport and Dallas-Fort Worth International Airport.
The department said preliminary findings indicate that 54.2 million passengers rode on domestic or international flights operated by U.S. airlines in September. It was the seventh straight monthly decline from the same month in 2007.
Miles flown by paying customers, a key indicator in the airline industry, fell 6.9 percent as the average trip was longer than a year ago, the department said.
The report also showed the effect of airline cutbacks that picked up in September, when carriers cut capacity to deal with then-high fuel prices. In September, U.S. airlines operated 9.4 percent fewer flights than a year earlier.
The preliminary figures from the department's Bureau of Transportation Statistics confirmed reports from the carriers themselves about weakening travel demand. Airline officials have said the sharpest declines occurred in October and November, after the most recent government figures were compiled.
The number of U.S. passengers in the first nine months of the year has fallen 2.1 percent compared with the same period of 2007.
For September, Southwest Airlines Co. continued to carry the most passengers, 7.4 million. However, Delta Air Lines Inc. and its newly acquired Northwest Airlines unit together carried 9.1 million passengers.
Among U.S. carriers, AMR Corp.'s American Airlines carried the most international passengers, at 1.5 million, although Delta and Northwest together carried more, 1.8 million. UAL Corp.'s United Airlines and Continental Airlines Inc. each carried more than 800,000 international passengers.
The busiest U.S. airport in the first nine months of the year was Atlanta Hartsfield-Jackson International, followed by Chicago's O'Hare Airport and Dallas-Fort Worth International Airport.
Mumbai attack dents business travel
John Fesko came to Mumbai to talk with an Indian pharmaceutical company about manufacturing two high blood pressure drugs his Swiss biotech firm is developing. He went home with a bullet in his leg.
"I thought I had glass in my leg," the American said by phone from Basel, Switzerland, just after his doctor extracted the bullet.
Fesko was one of the lucky ones: He survived the 60-hour rampage by Islamic militants in India's financial capital, which claimed 171 lives.
He has three new rules to live by: Always carry your passport. Keep at least one credit card on you. Avoid five star hotels in poor countries.
The Nov. 26 to Nov. 29 terror attacks dealt a further blow to India's business travel industry, which has been suffering from the global economic slowdown for months. Occupancy rates in south Mumbai's five-star hotels, frequented by business travelers like Fesko, are down by about a third since the siege, according to the Hotel Association of India.
Few predict terror alone will derail business travel to India for the long haul. But as corporate travelers limp back, they are asking tough questions about security, demanding that high-profile hotels prove they have measures in place to deflect violence. Those demands, fueled by a still-palpable fear, are forcing the city's top hotels to rethink the delicate balance between security and hospitality.
The Association of Corporate Travel Executives, a U.S. nonprofit group, surveyed 134 corporate travel managers after the Mumbai attacks. They found that just 6 percent planned to curtail travel to the region, but 78 percent were reviewing their hotel contracts with a greater emphasis on security.
"Companies are going to continue to send people all around the world," said Susan Gurley, the group's executive director. Still, "the onus is going to be much more on hotels proving to corporations that their security is up to date."
Companies are asking the hotels they deal with to coordinate better with police, fire and military authorities, train staff in evacuation techniques, install back-up communication systems in guest rooms, and improve surveillance, she said.
Such aggressive security measures come with both financial and psychological costs.
"People want to feel safe, but they don't want to feel like they are in an armed camp," Gurley said.
Luxury hotels across Mumbai have added metal detectors, more stringent bag searches, bomb-sniffing dogs and vehicle searches. Some are considering staff training on what to do in case of a terrorist attack, and the government has posted armed police and soldiers at top hotels in Mumbai, New Delhi and Kolkata.
Varun Satish, the assistant to the director of security at the Four Seasons hotel in Mumbai, said security officers from corporate clients have descended on the hotel since the attack. "We've had a security audit like every second day," he said.
"Hospitality is going to change," he said. "Guests ask, 'Is it going to be like checking in at the airport?'"
"It's the budget that's going to go up big time," he added. "We don't mind. It's only going to make things more secure."
Dinesh Chauhan, Asia-Pacific travel manager for Philips Electronics NV, helps oversee a 300 million euro ($404 million) annual travel budget for more than 60,000 employees worldwide.
He said Philips already asks the hotels it deals with to meet certain minimum security requirements — like restricting access for non-guests and ensuring fire safety — but is working to improve things like monitoring staff location.
Philips lifted its ban on travel to Mumbai on Dec. 4, five days after the attacks ended. And it has reopened its Mumbai office, which was closed for two days.
Many other companies also have lifted their travel restrictions and pledged to move ahead with business as usual in India, one of Asia's fastest-growing economies.
Priya Paul, president of the Hotel Association of India, said she expects business travel to resume normal levels in January.
"People are giving it a little time to settle down," she said.
Part of the Oberoi and the new wing of the Taj hotel — both targets of the terrorist attacks — plan to reopen Dec. 21. It's too early to tell whether loyalty or fear will dominate and how quickly the business community will return to its two favorite haunts.
Pradeep Udhas, a managing director at Greater Pacific Capital Pvt Ltd, a private equity firm, said his firm is considering sending people to more humble lodging than the Taj or Oberoi from now on.
"We have to be judicious and not take undo risks for our people," he said. "But if we don't continue with our business, that's what these terrorists want."
Fesko, the chief executive of biotech company Renuvia Pharmaceuticals LLC who is back home recuperating in Switzerland, said he would probably return to India and continue talks with Cipla Ltd. — and probably would avoid staying in expensive hotels. But his voice is heavy with hesitation.
He and his girlfriend, Dara Huang, survived the gunbattle at Leopold's, a tourist bar targeted in the attack, ducking bullets and exploding glasses, to flee through the dark, still streets to their hotel, the Taj Mahal Palace & Tower.
Fesko's arms and legs were covered with cuts and he was wet with a stranger's blood.
Minutes after they sat down amid the warm, sweeping marble of the Taj lobby, they heard gunfire again. They ducked into a nearby restaurant, where they waited out the night, praying and listening to the sound of guns, grenades, and the terrifying roar of an approaching fire.
"You see that with your own eyes, and you think it's a miracle you are alive," Fesko said. "I know Dara would be scared if I went back."
"I thought I had glass in my leg," the American said by phone from Basel, Switzerland, just after his doctor extracted the bullet.
Fesko was one of the lucky ones: He survived the 60-hour rampage by Islamic militants in India's financial capital, which claimed 171 lives.
He has three new rules to live by: Always carry your passport. Keep at least one credit card on you. Avoid five star hotels in poor countries.
The Nov. 26 to Nov. 29 terror attacks dealt a further blow to India's business travel industry, which has been suffering from the global economic slowdown for months. Occupancy rates in south Mumbai's five-star hotels, frequented by business travelers like Fesko, are down by about a third since the siege, according to the Hotel Association of India.
Few predict terror alone will derail business travel to India for the long haul. But as corporate travelers limp back, they are asking tough questions about security, demanding that high-profile hotels prove they have measures in place to deflect violence. Those demands, fueled by a still-palpable fear, are forcing the city's top hotels to rethink the delicate balance between security and hospitality.
The Association of Corporate Travel Executives, a U.S. nonprofit group, surveyed 134 corporate travel managers after the Mumbai attacks. They found that just 6 percent planned to curtail travel to the region, but 78 percent were reviewing their hotel contracts with a greater emphasis on security.
"Companies are going to continue to send people all around the world," said Susan Gurley, the group's executive director. Still, "the onus is going to be much more on hotels proving to corporations that their security is up to date."
Companies are asking the hotels they deal with to coordinate better with police, fire and military authorities, train staff in evacuation techniques, install back-up communication systems in guest rooms, and improve surveillance, she said.
Such aggressive security measures come with both financial and psychological costs.
"People want to feel safe, but they don't want to feel like they are in an armed camp," Gurley said.
Luxury hotels across Mumbai have added metal detectors, more stringent bag searches, bomb-sniffing dogs and vehicle searches. Some are considering staff training on what to do in case of a terrorist attack, and the government has posted armed police and soldiers at top hotels in Mumbai, New Delhi and Kolkata.
Varun Satish, the assistant to the director of security at the Four Seasons hotel in Mumbai, said security officers from corporate clients have descended on the hotel since the attack. "We've had a security audit like every second day," he said.
"Hospitality is going to change," he said. "Guests ask, 'Is it going to be like checking in at the airport?'"
"It's the budget that's going to go up big time," he added. "We don't mind. It's only going to make things more secure."
Dinesh Chauhan, Asia-Pacific travel manager for Philips Electronics NV, helps oversee a 300 million euro ($404 million) annual travel budget for more than 60,000 employees worldwide.
He said Philips already asks the hotels it deals with to meet certain minimum security requirements — like restricting access for non-guests and ensuring fire safety — but is working to improve things like monitoring staff location.
Philips lifted its ban on travel to Mumbai on Dec. 4, five days after the attacks ended. And it has reopened its Mumbai office, which was closed for two days.
Many other companies also have lifted their travel restrictions and pledged to move ahead with business as usual in India, one of Asia's fastest-growing economies.
Priya Paul, president of the Hotel Association of India, said she expects business travel to resume normal levels in January.
"People are giving it a little time to settle down," she said.
Part of the Oberoi and the new wing of the Taj hotel — both targets of the terrorist attacks — plan to reopen Dec. 21. It's too early to tell whether loyalty or fear will dominate and how quickly the business community will return to its two favorite haunts.
Pradeep Udhas, a managing director at Greater Pacific Capital Pvt Ltd, a private equity firm, said his firm is considering sending people to more humble lodging than the Taj or Oberoi from now on.
"We have to be judicious and not take undo risks for our people," he said. "But if we don't continue with our business, that's what these terrorists want."
Fesko, the chief executive of biotech company Renuvia Pharmaceuticals LLC who is back home recuperating in Switzerland, said he would probably return to India and continue talks with Cipla Ltd. — and probably would avoid staying in expensive hotels. But his voice is heavy with hesitation.
He and his girlfriend, Dara Huang, survived the gunbattle at Leopold's, a tourist bar targeted in the attack, ducking bullets and exploding glasses, to flee through the dark, still streets to their hotel, the Taj Mahal Palace & Tower.
Fesko's arms and legs were covered with cuts and he was wet with a stranger's blood.
Minutes after they sat down amid the warm, sweeping marble of the Taj lobby, they heard gunfire again. They ducked into a nearby restaurant, where they waited out the night, praying and listening to the sound of guns, grenades, and the terrifying roar of an approaching fire.
"You see that with your own eyes, and you think it's a miracle you are alive," Fesko said. "I know Dara would be scared if I went back."
Rental car slowdown hurts automakers
U.S. automakers have been struggling to sell cars ever since the economy went south. Now it looks like a sharp drop in travel spending — specifically, on rental cars — has also caught up with the troubled industry.
Rental car companies, a major customer of the automakers, have seen demand for their services fall since the financial crisis erupted in September 2008, prompting businesses and consumers to cut back on travel spending. With cars sitting idle in their lots, rental companies are much more inclined to scale back their fleets than to buy new vehicles.
Large-volume sales — also known as "fleet sales" — to rental car companies and municipalities typically account for about 20 percent of auto industry sales. So a sharp drop in rental car demand is enough to make a bad sales month for the U.S. auto industry dramatically worse.
On Tuesday, Chrysler LLC sales chief Steven Landry told reporters that a drop in fleet sales could help drive U.S. auto sales way down. Later in the day, Chrysler reported that its U.S. vehicle sales plunged 55 percent in January, driven by a steep 81 percent drop in fleet sales compared with last January's levels.
General Motors' sales tumbled 49 percent on an 80 percent drop in fleet sales, while Ford's sales dropped 40 percent as fleet sales fell 65 percent.
Here are some questions and answers about how cutbacks in travel spending are affecting rental car companies and slashing into U.S. auto industry sales.
Q: How are rental car companies responding to the drop in travel?
A: To stay ahead of falling demand, the companies have been working to reduce their fleets by selling cars and holding onto older vehicles longer, rather than replacing them.
Hertz Global Holdings Inc. accelerated plans to shrink its 300,000 vehicle fleet in the third quarter of 2008. Enterprise spokeswoman Christine Conrad said the chain's fleet size in January, on average, was 7 percent smaller than it was in January of last year.
Rivals Avis Budget Group Inc. and Dollar Thrifty Automotive are also scaling back.
The downside of this strategy: The rental car companies have been forced to unload some vehicles into a weak used car market, so they're not fetching great prices. However, FTN Equity Capital Markets analyst John Healy noted that used car prices have started to show some improvement.
Q: What do sales to rental car chains mean to the auto industry's bottom line?
A: Bulk sales to rental car companies and other fleets are much less profitable than retail sales to individual consumers, because they are sold at deeply discounted prices. Sometimes they even come at a loss to carmakers looking to unload unwanted inventory.
So while a drop in fleet business may reflect very badly on automakers' sales numbers, it may not be as tough on their profits. In fact, Chrysler Vice Chairman Jim Press said Tuesday that the company's 30 percent sales drop last year was a healthy sign because it eliminated about 200,000 fleet sales that would have been unprofitable.
Landry, the Chrysler LLC sales chief, estimated that the company made roughly 40,000 fewer fleet sales in the month of January.
Q: Which automakers are most affected by rental car cutbacks?
A: In general, domestic rental car companies buy more vehicles from U.S. automakers than foreign ones, Healy said. He noted that Dollar Thrifty Automotive Group Inc. has large number of Chrysler vehicles, Avis Budget Group Inc. buys more cars from General Motors Corp. and Hertz Global Holdings Inc. is more closely tied to Ford Motor Co.
Q: Are rental car companies buying any cars at all?
A: An announcement by Enterprise Rent-A-Car on Tuesday that it is adding about 5,000 gas/electric hybrid cars and SUVs to its nationwide fleet shows that there is at least some demand among rental companies for new vehicles.
"They are buying cars right now," Healy said, "but they are buying less cars than the (automakers) would like them to."
Despite the overall drop in rental car demand, Enterprise spokeswoman Lisa Martini said consumers and corporate customers have continued to express interest in hybrid cars. She said the demand is particularly high in urban areas and at airports with large numbers of business travelers, where the company has concentrated the new vehicles.
With the addition, Martini said Enterprise's hybrid fleet now totals about 7,000 vehicles.
Most of the new fleet consists of Toyota Prius hybrids, although the company also has a large number of Ford Escape SUVs, as well as Nissan Altima and Toyota Camry hybrids.
Q: What does all of this mean for rental car customers?
A: As rental car companies have dealt with having too many cars for the pace of demand, rental prices have dropped steeply for people who still want to travel. Hotwire.com, an online discount travel agency, was advertising rental car rates for less than $10 a day on Tuesday.
But those deals may not last long. As rental car companies reduce their fleets below the level of demand, analysts expect prices to rebound — Healy said prices may recover as early as this spring.
Rental car companies, a major customer of the automakers, have seen demand for their services fall since the financial crisis erupted in September 2008, prompting businesses and consumers to cut back on travel spending. With cars sitting idle in their lots, rental companies are much more inclined to scale back their fleets than to buy new vehicles.
Large-volume sales — also known as "fleet sales" — to rental car companies and municipalities typically account for about 20 percent of auto industry sales. So a sharp drop in rental car demand is enough to make a bad sales month for the U.S. auto industry dramatically worse.
On Tuesday, Chrysler LLC sales chief Steven Landry told reporters that a drop in fleet sales could help drive U.S. auto sales way down. Later in the day, Chrysler reported that its U.S. vehicle sales plunged 55 percent in January, driven by a steep 81 percent drop in fleet sales compared with last January's levels.
General Motors' sales tumbled 49 percent on an 80 percent drop in fleet sales, while Ford's sales dropped 40 percent as fleet sales fell 65 percent.
Here are some questions and answers about how cutbacks in travel spending are affecting rental car companies and slashing into U.S. auto industry sales.
Q: How are rental car companies responding to the drop in travel?
A: To stay ahead of falling demand, the companies have been working to reduce their fleets by selling cars and holding onto older vehicles longer, rather than replacing them.
Hertz Global Holdings Inc. accelerated plans to shrink its 300,000 vehicle fleet in the third quarter of 2008. Enterprise spokeswoman Christine Conrad said the chain's fleet size in January, on average, was 7 percent smaller than it was in January of last year.
Rivals Avis Budget Group Inc. and Dollar Thrifty Automotive are also scaling back.
The downside of this strategy: The rental car companies have been forced to unload some vehicles into a weak used car market, so they're not fetching great prices. However, FTN Equity Capital Markets analyst John Healy noted that used car prices have started to show some improvement.
Q: What do sales to rental car chains mean to the auto industry's bottom line?
A: Bulk sales to rental car companies and other fleets are much less profitable than retail sales to individual consumers, because they are sold at deeply discounted prices. Sometimes they even come at a loss to carmakers looking to unload unwanted inventory.
So while a drop in fleet business may reflect very badly on automakers' sales numbers, it may not be as tough on their profits. In fact, Chrysler Vice Chairman Jim Press said Tuesday that the company's 30 percent sales drop last year was a healthy sign because it eliminated about 200,000 fleet sales that would have been unprofitable.
Landry, the Chrysler LLC sales chief, estimated that the company made roughly 40,000 fewer fleet sales in the month of January.
Q: Which automakers are most affected by rental car cutbacks?
A: In general, domestic rental car companies buy more vehicles from U.S. automakers than foreign ones, Healy said. He noted that Dollar Thrifty Automotive Group Inc. has large number of Chrysler vehicles, Avis Budget Group Inc. buys more cars from General Motors Corp. and Hertz Global Holdings Inc. is more closely tied to Ford Motor Co.
Q: Are rental car companies buying any cars at all?
A: An announcement by Enterprise Rent-A-Car on Tuesday that it is adding about 5,000 gas/electric hybrid cars and SUVs to its nationwide fleet shows that there is at least some demand among rental companies for new vehicles.
"They are buying cars right now," Healy said, "but they are buying less cars than the (automakers) would like them to."
Despite the overall drop in rental car demand, Enterprise spokeswoman Lisa Martini said consumers and corporate customers have continued to express interest in hybrid cars. She said the demand is particularly high in urban areas and at airports with large numbers of business travelers, where the company has concentrated the new vehicles.
With the addition, Martini said Enterprise's hybrid fleet now totals about 7,000 vehicles.
Most of the new fleet consists of Toyota Prius hybrids, although the company also has a large number of Ford Escape SUVs, as well as Nissan Altima and Toyota Camry hybrids.
Q: What does all of this mean for rental car customers?
A: As rental car companies have dealt with having too many cars for the pace of demand, rental prices have dropped steeply for people who still want to travel. Hotwire.com, an online discount travel agency, was advertising rental car rates for less than $10 a day on Tuesday.
But those deals may not last long. As rental car companies reduce their fleets below the level of demand, analysts expect prices to rebound — Healy said prices may recover as early as this spring.
Avoiding Lost Luggage Blues
How can you avoid having your luggage lost and what should you do if it goes go astray?
Here are some tips:
Don't check luggage
The most obvious answer is to not check luggage at all. Pack light. OK, you can't pack light. Read on.
Take nonstops
If you can't pack light enough to fit everything in cabin luggage and you must check luggage, then at least avoid connecting flights whenever possible since each connection ups the chances of a lost bag.
Make sure it's tagged properly
When checking your bags curbside or at a counter make sure the agent or skycap has put the correct destination tag on your bag.
Ship your luggage ahead
Another strategy is to ship your luggage 4 or 5 days ahead of your arrival to your final destination (assuming you're not going from place to place). Especially if you have heavy or oversized bags that would otherwise incur a hefty airline baggage fee this might actually end up costing less. Other advantages: the shipping company lugs the luggage, not you; and FedEx have a better record at getting packages where they're going than the airlines do. Plus, should something go wrong, at least you'll get your shipping charges refunded and an apology and shipping companies have much better tracking capabilities than the airlines do. Costs are surprisingly low. Shipping a 52 pound bag from Phoenix to New York via FedEx Ground using 5 day service costs about $68, including insurance of up to $2000 ($5000 in insurance would just be $20 more); the same bag on US Airways: $15 for the first bag fee, plus $65 because it's over 50 lbs for a total of $80. Shipping an oversized suitcase (over 62 total linear inches) of the same weight costs the same via FedEx but and extra $100 on USAir (that's $360 round trip!). See our baggage fee chart.
You can also bring your suitcase to the US Post Office (you don't even need a box for it; in fact, you don't even need a suitcase if you're staying in one place when you arrive-just put your clothes and other possessions in a box and save on shipping costs).
Addresses on the inside too
Do remember to put your home and "away" addresses both inside and outside the suitcase. Those flimsy address tags the airlines hand out for free fall off easily.
What protection can you buy?
You're already covered for up to $3300 per trip on domestic flights thanks to new DOT regulations, but beware: the airlines will try to depreciate the value of your suitcase and its contents (if you claim $2500 of value they might only pay $1500), and will not cover a range of "valuable" items such as electronics, cash, and jewelry unless you buy excess valuation (see below). So never check these things unless you're sure you're covered.
Keep all receipts
Also, whenever you buy something, be sure to keep the receipts, because the airlines will ask for them to assign a value to your loss. No receipts and you may be out of luck.
Excess valuation
Most airlines sell excess valuation insurance, which you can buy when you check yours bags. Delta, for example, offers up to $2000 in excess valuation (over and above the standard DOT mandated $3300), which includes valuables, for $40 for the first $1000 and $10 for the next $1000. If you buy this coverage, your entire bag is covered for valuables. (Have you ever been offered excess valuation by an airline rep at check in? Me neither).
Travel Insurance
Most travel insurance also covers lost or damaged luggage, but there are limits and exclusions, and you should always read the fine print to avoid unpleasant surprises.
Homeowner's insurance a last resort
Yes, your homeowner's insurance may cover lost luggage, but beware: your insurer may up your premium or cancel your policy. (I once merely inquired about filing a claim, and Allstate refused to renew my policy, even though I never filed the claim!).
What to do if your luggage is lost?
File a claim with the airline's baggage office immediately, before leaving the airport. Gather receipts (you did save them, right?) and hope for the best.
More Flying Tips from Airfarewatchdog.com
Original Story: Avoiding Lost Luggage Blues
Visit Aviation.com, the one-stop destination for all the news you can use to fly better. The site caters to a broad audience ranging from frequent fliers looking to improve their air travel to passionate enthusiasts who want to read the latest about the industry and its innovations. Check out our videos, image galleries, Top 10s, RSS feeds and more. Join our community so you can comment on articles and participate in provocative discussions in our forums!
Here are some tips:
Don't check luggage
The most obvious answer is to not check luggage at all. Pack light. OK, you can't pack light. Read on.
Take nonstops
If you can't pack light enough to fit everything in cabin luggage and you must check luggage, then at least avoid connecting flights whenever possible since each connection ups the chances of a lost bag.
Make sure it's tagged properly
When checking your bags curbside or at a counter make sure the agent or skycap has put the correct destination tag on your bag.
Ship your luggage ahead
Another strategy is to ship your luggage 4 or 5 days ahead of your arrival to your final destination (assuming you're not going from place to place). Especially if you have heavy or oversized bags that would otherwise incur a hefty airline baggage fee this might actually end up costing less. Other advantages: the shipping company lugs the luggage, not you; and FedEx have a better record at getting packages where they're going than the airlines do. Plus, should something go wrong, at least you'll get your shipping charges refunded and an apology and shipping companies have much better tracking capabilities than the airlines do. Costs are surprisingly low. Shipping a 52 pound bag from Phoenix to New York via FedEx Ground using 5 day service costs about $68, including insurance of up to $2000 ($5000 in insurance would just be $20 more); the same bag on US Airways: $15 for the first bag fee, plus $65 because it's over 50 lbs for a total of $80. Shipping an oversized suitcase (over 62 total linear inches) of the same weight costs the same via FedEx but and extra $100 on USAir (that's $360 round trip!). See our baggage fee chart.
You can also bring your suitcase to the US Post Office (you don't even need a box for it; in fact, you don't even need a suitcase if you're staying in one place when you arrive-just put your clothes and other possessions in a box and save on shipping costs).
Addresses on the inside too
Do remember to put your home and "away" addresses both inside and outside the suitcase. Those flimsy address tags the airlines hand out for free fall off easily.
What protection can you buy?
You're already covered for up to $3300 per trip on domestic flights thanks to new DOT regulations, but beware: the airlines will try to depreciate the value of your suitcase and its contents (if you claim $2500 of value they might only pay $1500), and will not cover a range of "valuable" items such as electronics, cash, and jewelry unless you buy excess valuation (see below). So never check these things unless you're sure you're covered.
Keep all receipts
Also, whenever you buy something, be sure to keep the receipts, because the airlines will ask for them to assign a value to your loss. No receipts and you may be out of luck.
Excess valuation
Most airlines sell excess valuation insurance, which you can buy when you check yours bags. Delta, for example, offers up to $2000 in excess valuation (over and above the standard DOT mandated $3300), which includes valuables, for $40 for the first $1000 and $10 for the next $1000. If you buy this coverage, your entire bag is covered for valuables. (Have you ever been offered excess valuation by an airline rep at check in? Me neither).
Travel Insurance
Most travel insurance also covers lost or damaged luggage, but there are limits and exclusions, and you should always read the fine print to avoid unpleasant surprises.
Homeowner's insurance a last resort
Yes, your homeowner's insurance may cover lost luggage, but beware: your insurer may up your premium or cancel your policy. (I once merely inquired about filing a claim, and Allstate refused to renew my policy, even though I never filed the claim!).
What to do if your luggage is lost?
File a claim with the airline's baggage office immediately, before leaving the airport. Gather receipts (you did save them, right?) and hope for the best.
More Flying Tips from Airfarewatchdog.com
Original Story: Avoiding Lost Luggage Blues
Visit Aviation.com, the one-stop destination for all the news you can use to fly better. The site caters to a broad audience ranging from frequent fliers looking to improve their air travel to passionate enthusiasts who want to read the latest about the industry and its innovations. Check out our videos, image galleries, Top 10s, RSS feeds and more. Join our community so you can comment on articles and participate in provocative discussions in our forums!
U.S. airlines pin hopes on summer vacation travel
As business travel bookings plummet in the economic recession, U.S. airlines are looking hungrily at the summer vacation travel season for a bump in their leisure bookings.
That may be wishful thinking, however.
Carriers must fight the uphill battle of persuading people to fork over cash for vacations at a time when job losses mount and personal investments like homes and retirement plans shed value.
"Everybody is wondering if there's another shoe to drop," said Rick Seaney, chief executive of air fare research site Farecompare.com.
Seaney said that while there is no reliable way to gauge forward airline bookings, evidence suggests a gloomy outlook for leisure travel this year.
Travelers are booking trips closer to their departures, which indicates more shopping and less buying, he said.
Furthermore, airlines now offer deeply discounted tickets in hopes of luring thrifty passengers. The sales, which last much longer this year than last year, typically shave 25 percent to 50 percent off the high fares of last summer, Seaney said.
"These are not prices that we're going to see outside of a recession," Seaney said.
Discretionary travel spending is highly dependent on an economy that consumers can trust. And the U.S. economy offers very little good news these days.
The Labor Department on Friday said nonfarm payrolls shed 651,000 jobs in February, while the jobless rate climbed to 8.1 percent. Since the recession started in December 2007, the economy has shed 4.4 million jobs. More than half of those jobs were eliminated in the last four months.
Despite massive downsizing last year and in 2009, airlines still struggle to keep planes full and fares supported.
Monthly reports on airline operations released this week showed sharp declines in traffic as carriers slashed capacity. Most troubling for the airlines, however, was the shrinking load factors, which measure how full a plane is.
American Airlines, for example, said its load factor was 73.9 percent, down 2.9 percentage points from February 2008. Continental Airlines reported a load factor of 72.9 percent, a decline of 3.1 percentage points from a year ago.
Airline leaders link the shrinking load factors to a slowdown in business travel after politicians demonized lavish corporate trips in recent months.
Airline leaders like Doug Parker, chief executive at US Airways, hold out hope that leisure travel will not take the same hit.
"What we see ... right now is that the softness is mostly in business, as opposed to leisure," Parker told Reuters on Tuesday. "You stimulate leisure somewhat with lower fares."
(Reporting by Kyle Peterson; editing by Richard Chang)
That may be wishful thinking, however.
Carriers must fight the uphill battle of persuading people to fork over cash for vacations at a time when job losses mount and personal investments like homes and retirement plans shed value.
"Everybody is wondering if there's another shoe to drop," said Rick Seaney, chief executive of air fare research site Farecompare.com.
Seaney said that while there is no reliable way to gauge forward airline bookings, evidence suggests a gloomy outlook for leisure travel this year.
Travelers are booking trips closer to their departures, which indicates more shopping and less buying, he said.
Furthermore, airlines now offer deeply discounted tickets in hopes of luring thrifty passengers. The sales, which last much longer this year than last year, typically shave 25 percent to 50 percent off the high fares of last summer, Seaney said.
"These are not prices that we're going to see outside of a recession," Seaney said.
Discretionary travel spending is highly dependent on an economy that consumers can trust. And the U.S. economy offers very little good news these days.
The Labor Department on Friday said nonfarm payrolls shed 651,000 jobs in February, while the jobless rate climbed to 8.1 percent. Since the recession started in December 2007, the economy has shed 4.4 million jobs. More than half of those jobs were eliminated in the last four months.
Despite massive downsizing last year and in 2009, airlines still struggle to keep planes full and fares supported.
Monthly reports on airline operations released this week showed sharp declines in traffic as carriers slashed capacity. Most troubling for the airlines, however, was the shrinking load factors, which measure how full a plane is.
American Airlines, for example, said its load factor was 73.9 percent, down 2.9 percentage points from February 2008. Continental Airlines reported a load factor of 72.9 percent, a decline of 3.1 percentage points from a year ago.
Airline leaders link the shrinking load factors to a slowdown in business travel after politicians demonized lavish corporate trips in recent months.
Airline leaders like Doug Parker, chief executive at US Airways, hold out hope that leisure travel will not take the same hit.
"What we see ... right now is that the softness is mostly in business, as opposed to leisure," Parker told Reuters on Tuesday. "You stimulate leisure somewhat with lower fares."
(Reporting by Kyle Peterson; editing by Richard Chang)
Langganan:
Postingan (Atom)