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MIAMI – It is no surprise that airlines worldwide are exploring all possible ways out of the extreme crisis that COVID-19 has caused.
In the next few months, experts predict a concentration on leisure trips and less on business travel, according to Italian travel new outlet
lastampa.it. After the pandemic, La Stampa says, people are going to want to take a break, and that’s what airlines will have to concentrate on.
Recently, Lufthansa (LH) revealed that the pandemic caused a 75% traffic loss. But signs of improvement, notably from Great Britain, have already led to a substantial increase in bookings to fly abroad in some tourist hotspots thanks to the recent results to stave off the epidemic.
However, they are now studying ways to adjust business models as economies attempt to reopen in the coming months. European carriers will pivot to leisure travel, Adrian Yanoshik, an equity analyst at Berenberg, told CNBC Wednesday. This is a tactical response. You follow the flow of people, he said.
As European economies look at easing restrictions, it s expected that people will try to go on vacation as soon as possible, after about a year of being stuck at home. In contrast, business travel is seen as taking longer to recover. Am I gonna do the one-day trip from London to New York for a three-hour meeting? Probably not, so there will be some impact on business travel, Keith Barr, CEO of IHG Hotels & Resorts, told CNBC s Squawk Box Europe last month.
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