Skift Take
Rashad Jorden
Good morning from Skift. It’s Wednesday, July 3rd, and we’re here to tell you what you need to know about the travel industry today.
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Episode Notes
Although more companies have cut back on their travel budgets in recent years, the recovery in business travel has not slowed, reporter Christiana Schiaudone writes.
According to a recent BCD Travel survey, nearly 60% of travel buyers say their company has cut their travel budget in the past few years. Additionally, 96% say their company has implemented cost-control policies.
But Sciardone said 2024 is shaping up to be a strong year for business travel. The global business travel market is expected to return to pre-COVID levels this year, according to British data analytics firm GlobalData. About 220 million international trips are expected to be taken in 2024, up from 174 million last year.
Next, American Airlines announced that it had signed a conditional purchase agreement with startup ZeroAvia for 100 hydrogen-electric engines, writes aviation reporter Meghna Maharishi.
American Airlines CEO Robert Isom said hydrogen-electric engines will help the airline be more sustainable. ZeroAvia is developing near-zero emissions engines for commercial aircraft. American Airlines has joined many of its competitors in investing in ZeroAvia’s hydrogen-electric engines in recent years.
But the big problem with the engines is that they can only power small aircraft, and Maharishi points out that most investment has been limited to regional jets because the technology isn’t yet ready for hydrogen-electric engines to power larger aircraft.
Finally, sports network ESPN has entered the experiences sector by launching tours of major league baseball stadiums, writes travel experiences reporter Jesse Chase Lubitz.
ESPN’s first tour will take place over Labor Day weekend and will include stops at three stadiums and special access to the network’s headquarters. Chase Lubitz said ESPN will decide whether to do more tours based on the success of the first one. A spokesman for ESPN, the Disney-owned network, said demand for the experiential tours is growing.
Producer/Presenter: José Marmolejos
Photo credit: Business travellers sitting at the airport gate.