Some travel businesses are getting creative to support otherwise displaced workers in a depressed travel environment. From Flight Centre, which is in discussions with other employers that could use temporary call-center support, to Upside Business Travel, whose employees are circulating the idea to "rent out our sales team," travel companies are seeking alternatives to more draconian labor actions.
Online travel management company TripActions, which has raised nearly a half-billion dollars since its founding in 2015, laid off employees on Tuesday, the company confirmed.
Amadeus on Monday alerted investors it has "adopted a set of measures to protect its liquidity, to enhance its financial flexibility and to support its cash generation in a scenario where the current tough market conditions persist over a long period of time."
Sabre is cutting $200 million in costs this year through employee salary cuts, voluntary leave packages and other actions, the company announced Friday.
As the coronavirus crisis continues, more airlines will go bankrupt, some will turn to consolidation and "some will completely disappear," Lufthansa Group CEO Carsten Spohr said Thursday during a call with investors and analysts.
From government financial aid with multibillion-dollar price tags to leniency from suppliers and business partners, travel agencies around the world are begging for relief from the unfolding damage the coronavirus outbreak is wreaking on business.
President Trump's surprise announcement Wednesday night of a 30-day ban on non-U.S. travelers entering from the European Union's Schengen Area, compounded by growing public anxiety over the coronavirus outbreak, brought an already-limping corporate travel industry to its knees.
The impact of Covid-19 on travel demand is ravaging the U.S. travel agency sector, president of Maryland-based Safe Harbors Business Travel Jay Ellenby testified Tuesday before the U.S. House of Representatives Committee on Small Business. The travel management company this week laid off a "significant" portion of its workforce and projected its March sales would plummet 50 percent year over year, Ellenby testified.
Travel agency operator ATPI Group last month took an equity stake and entered into a partnership with U.K.-based T&E tech startup Taptrip. It is the multinational travel management company's first investment in an early-stage startup, but won't be its last, ATPI chief innovation and technology officer Ali Hussain said in a recent interview.
Following this year's investment from strategic partner ARC and Delta Air Lines' adoption of its technology to extend travel management features through direct channels, NuTravel now is advancing its Universal Connect multi-airline direct-booking system.