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It has been a crazy week. As the world pretty much shuts down for business, airlines and hotels are at the forefront. This week saw airlines and hotels bleed money. Some airlines could even go bankrupt as early as May this year. Here’s a quick roundup of the stories we covered this week.
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This has been in the works for a while. However, given the sharp turn the economy has taken, I won’t be surprised if Amex delays the launch of their ‘ultra-premium’ card.
In the upcoming weeks, we’ll know if many of the world’s prominent airlines will survive. As airlines face an existential crisis, many are approaching their governments for a bailout.
As the political temperature heats up and the economy tanks, the income inequality debate will be at the forefront. I crunched numbers and the data makes it evident. Top airline executives make up to 150 times the money of the average airline worker.
Social distancing is the new normal and definitely a necessity. However, even after the economy recovers and the world gets back to work, social distancing may already have conditioned us to keep safe distance and avoid exploring right away. I discuss the impact this could have on travel and why it would take longer for the industry to recover.
Airlines are facing the possibility of going bankrupt. Meanwhile, hotels are running empty. As many hotels are facing closures, hotel industry CEOs and lobby groups are approaching President Trump for financial aid.
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