Amex Reports Rising Business Travel Costs
American Express today said corporate travel clients during the second quarter on average paid higher hotel and car rental rates, and higher international airfares. Though domestic airfares declined further versus mid-2004 levels, they also have been on the rise since the beginning of this year.
Specifically, average fare paid among the company's corporate clients in the second quarter was $218 one-way, 7 percent below comparable 2004 measurements, but 8 percent above the first-quarter average fare.
"Despite the widespread price restructuring earlier this year that decreased airfares, fares continue to rise as more people fly and discounts become less available," said Andy McGraw, senior vice president and general manager of American Express Business Travel North America. "Furthermore, upward pricing pressures remain as the cost of oil continues its rise. Fares will likely climb in the coming months."
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Source - BTNonline.com
"Despite the widespread price restructuring earlier this year that decreased airfares, fares continue to rise as more people fly and discounts become less available," said Andy McGraw, senior vice president and general manager of American Express Business Travel North America. "Furthermore, upward pricing pressures remain as the cost of oil continues its rise. Fares will likely climb in the coming months."
External Source - For the complete article click here
Source - BTNonline.com
