Business Services Industry
Biz cuts back travel, uses tech to talk.(Reduced business travel hurts airlines)(Brief Article)
Crain's Detroit Business, July, 2001 by Kosdrosky, Terry
A quick look at last week's gloomy airline earnings reports confirms that businesses are cutting way back on travel. Northwest Airlines Corp., the main carrier at Detroit Metropolitan Airport, reported a net loss of $55 million and cut 1,500 jobs. But more troubling than this quarter's reports is an expectation from some analysts that business travelers will not come back to the airlines in full numbers once the economy bounces back.
The Business Travel Coalition's survey of 62 companies finds several intend to replace some travel with videoconferencing and Internet conferencing even after budgets aren't so strained. ``There won't be a snap-back in travel once the economy firms up,'' said Kevin Mitchell, chairman of the Lafayette Hill, Pa.-based BTC....
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