Although business travel was largely put on pause for the last three months, TripActions has been rapidly innovating our platform and features to help travel, finance, operations, HR and risk leaders navigate the COVID-19 global health crisis and its subsequent economic impact. Now, more than ever, enterprises realize that they need modern, agile corporate travel and expense management software to manage their business.
With new products, new customers, and deeper global expansion, we were pleased to announce last week that TripActions raised $125 million in convertible-to-IPO financing that gives us more than enough in the bank to weather COVID-19 while accelerating our investment in R&D and expanding Enterprise Sales to take the market.
We know that navigating these next steps as business travel resumes aren’t easy. To make sense of changing rules and regulations, you can track updates on the TripActions Business Travel Recovery Tool, explore the most pressing industry topics on the TripActions Community, or click right into the COVID-19 Report in the TripActions Admin Dashboard.
You can check out past weekly news roundups here. Now, here’s the top news of the week.
A New Guide to Air Travel During Coronavirus [Wall Street Journal]
Although air travel has changed in the past few months, travel bookings are picking up as people start to feel comfortable flying again for business and pleasure. The Wall Street Journal’s business section highlights a guide on what its readers should know and expect when navigating flights this summer.
Even though virtual meetings have temporarily replaced most face-to-face interactions for the last few months, few people want it to remain that way. Nearly three-quarters, or 72 percent, of 1,000+ respondents surveyed in April said that they would prefer to attend a conference in person instead of online. The responses show that people are willing to spend more money and time to attend an event in person instead of virtually. We also are eager to get back to conferences with you.
Although EU governments are slowly opening borders to other Schengen states, it doesn’t mean that travel between the EU and other countries such as the U.S. or Mexico are permitted. However it can get confusing as each country seems to be instituting different rules on different timelines. Politico breaks down what’s happening at each border.
COVID Won’t Affect JetBlue’s Sustainability Plans [Simple Flying]
It might be understandable if airline’s sustainability initiatives were temporarily put to the side during recent months, however, it is enlightening and motivating to see those that continue to innovate and explore the space even as revenue and passenger numbers reached an unexpected low.
In a recent interview, JetBlue President and COO Joanna Geraghty spoke about how JetBlue has continued its commitment to the environment, which should serve a reminder to the industry that consumers will be more concerned with the impact of their decisions — including on the environment — than ever before as travel picks up. Aviation leaders can even use this time, when more of their fleet and staff are grounded than usual, to institute new practices and measures that aid sustainability.
Airlines are working to balance new safety protocols — including blocking out middle seats — with setting airfare prices that encourage consumers to book again. With increased cleaning costs and fewer filled seats, airlines will likely have to increase airfares which could ultimately impact the businesses that need to travel for work the most. Travel managers will be tasked with balancing the cost and time needed to travel today with the productivity, connections, and business accomplished on a trip.
For more news and actionable insights from the business travel community, subscribe to Open for Business: A Corporate T&E Podcast Powered by TripActions on your favorite podcast platform.