As part of its roadshow before going public, American Express Global Business Travel told potential investors that airfares it booked were 40 percent higher than those sold by other travel management companies. Amex GBT CEO Paul Abbott on Wednesday said air travel was more profitable than lodging.
At a meeting hosted by Citi, Abbott said GBT benefited from inflation on “only” about 25 percent of revenues. That’s the portion which is sensitive to changes in ticket prices or daily rates.
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