The airline industry has been collaborating across the distribution chain to enable automated overrides of fare rules, offering carriers and travel management companies easier unused ticket management. American Airlines said the new functionality will be ready in global distribution systems in the coming weeks.
A Delaware chancery court has been asked to decide whether would-be investors in American Express Global Business Travel can pull out of their agreement in the wake of travel industry devastation wreaked by Covid-19. A key question, according to court documents unsealed this week, is whether Amex GBT's backers are protected in their deal from the impacts of the pandemic.
Following a "good start" to the year, Amadeus' worldwide global distribution system bookings turned negative year over year in mid-February and continued a freefall for the remainder of the first quarter, CEO Luis Maroto said Tuesday during the company's quarterly earnings call.
Sabre plans to end on June 30 its global distribution system agreement with Lufthansa Group carriers, several sources told The Beat Tuesday, echoing reports in several German-language publications.
Following its efforts to slash costs and raise capital, Sabre's liquidity position "is sufficient for more than a year and a half, even in a zero-bookings, no-travel scenario," president and CEO Sean Menke said Friday during the company's first-quarter results call.
Wex has backed out of its deal to acquire travel payments operator eNett from majority owner Travelport.
"Are we disappointed? Sure. This is what we worked for," Farelogix CEO Jim Davidson said about last week's merger termination with Sabre. "We believed that Sabre-Farelogix made a lot of sense. So we fought for it. In the end, it didn't work out the way we wanted."
Frosch Travel estimated in a lawsuit against its commercial insurance provider filed last week that it "suffered losses of approximately $40 million, and that number is rapidly increasing," due to the Covid-19 crisis. Like other businesses, Frosch filed a claim with its insurance provider to collect on its policy. However, the insurance company rejected the claim, prompting Frosch to file suit.