Business Travel: Meeting Partners Where You Are
CategoriesProspect Analytics Dashboard
Air travel changed swiftly in the face of the pandemic. International and interstate travel restrictions, record revenue losses for major airlines, changes in airport and airplane protocols, post-travel quarantine, widespread worry about the risks of travel – all of this means big changes for business travel. While the future of air travel is unknown, many industry analysts expect that such travel may take years to return to normal. In the meantime, companies and nonprofits are rethinking their approach to business travel.
- Business travelers account for 10% of passengers on major airlines but make up 55 to 75% of profits. (NYTimes)
- $25 billion in federal payroll aid expires at the end of September.
- According to the Official Airline Guide (OAG), the current domestic airline capacity is just under 56 million passengers, which is less than half of what it is during low season. (Forbes)
Impact on Partnerships
After four months of virtual meetings, it’s clear that they are a workable alternative but not a perfect replacement for in-person meetings. Pursuing new partnerships from afar will take intentional effort to manage the relationship and to create genuine connection. Develop internal guidelines to guide your virtual meetings with potential partners. Some standards for effective virtual meetings include requiring video.