Business Services Industry
Ending Travel Agent Commissions Would Cover Security Costs, Analyst Says.
Knight Ridder/Tribune Business News, March, 2002
By Nancy Fonti, The Atlanta Journal-Constitution Knight Ridder/Tribune Business News
Mar. 16--If other airlines follow Delta Air Lines' move to eliminate travel agent commissions, they will more than offset additional security costs they've faced in the wake of the Sept. 11 attacks, one Wall Street analyst said.
Salomon Smith Barney analyst Brian Harris wrote in a research note Friday that he expects other carriers within the next three weeks to eliminate basic commissions on North American bookings.
Delta, based in Atlanta, on Thursday was first to eliminate commissions.
Savings will total $990 million for the major airlines in 2002, Harris estimates.
But airlines this year will absorb large costs related to new security...
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