Business travel down, for now

It could be years before a rebound, analysts say

While business travel evaporated in a flash when the coronavirus hit, it may take two to three years for it to fully recover — far longer than many travel experts initially predicted.

Even that timeline, said Henry Harteveldt, president of Atmosphere Research Group, a travel market research firm in San Francisco, depends on “the broader economy, the industry a firm operates in and demand for its products or services, as well as the public health environment.”

And two to three years may be too optimistic — at least for a recovery by the major airlines.

Michael Derchin, an airline analyst, described the effect of the coronavirus pandemic on carriers as “Sept. 11 and the Great Recession on steroids.”

He estimated that it could take airlines seven years, if not longer, to recover.

While business travelers make up about 10% of all passengers on the major airlines — including American, Delta, United, Lufthansa and Singapore — they generate half the airlines’ revenue, Derchin said. And Harteveldt estimated that business travelers were responsible for 55% to 75% of ma j o r a i r l i n e s ’ p r o f i t s worldwide.

Not only do business travelers buy more expen

ST. PAUL, Minn. — Sonya Lewis has big plans for when her older son comes to visit.

“We’ll have all of our bikes and we’re going to go on, like, a huge family trek. And I’m super excited about that,” she said.

Heading into 2020, Lewis, who lives in Plymouth, Minnesota, hadn’t owned a bike in years. But when the pandemic closed gyms and so many other parts of daily life, she started looking for a way to get outside and exercise with her two sons who still live at home.

So, she began searching for bicycles.

She told Minnesota Public Radio News she tried several stores “and could not find not one single, solitary bike. I went to, like, several Targets, several Walmarts, whatever. And I wasn’t really looking for anything extra-expensive; it was just more for recreation.”

Lewis wasn’t alone.