US companies step up travel, shrug off economic uncertainty

US companies are overlooking uncertainty about the economy and booking fall trips at nearly six times last year’s rate after a flat summer for business travel, according to an analysis. While demand is climbing, average booked fares were down 23% to $419 in August from $543 in mid-May, travel manager TripActions said in a new report. That was about $10 cheaper than in August 2019. The statistics may help dispel concerns that corporations will cut budgets just as business travel is recovering from a collapse during the coronavirus pandemic, and that such trips won’t pick up after Labor Day, as they have historically. United Airlines said this week that leisure bookings have remained unexpectedly strong since the traditional end of the summer travel season. “Autumn is shaping up to be a blockbuster season for business travel,” TripActions said. “There’s no question that the enthusiasm for hitting the road has returned.” The trends are “far from settled,” the company cautioned, and “new wrinkles are likely to appear.” Separately, leisure fares for domestic and international travel during the upcoming winter holidays are expected to be at their highest in five years, travel booking app Hopper said in a report released Monday. More than half of Americans plan to travel for one or both of the holidays this year, it said, with 70% planning to visit family or friends. Spending on business travel rose 27% in August over July, and is projected to jump 30% in September from August, TripActions said.<br/>