High fares slow rebound in consumer travel: Orbitz CEO
Orbitz Worldwide CEO, Barney Harford, stated there has been a general recovery in the travel industry in particular, corporate travel (CNBC, 05-Aug-2010). He said airfares continue to be high, potentially slowing the rebound in consumer travel with the average price of an airline ticket increasing as much as 10% for travel within the US and 17% for international travel.
Orbitz: "We are seeing ... a moderation in the increases in air tickets that we were seeing in perhaps May and June, where we saw some really stronger increases in air tickets ... We're hopeful that we'll see an increase in capacity in the airline sector, which will drive some moderation in (the price of) airline tickets." Barney Harford, CEO. Source: CNBC, 05-Aug-2010.