Analysts: Business travel hasn't improved in over 2 months
During a typical year, this would be the time airlines see traffic trends shift from the busy summer travel season to the fall, in which business travel takes a larger role.
While leisure travel bookings were down just over 50 percent year-over-year for the week ending Aug. 23, corporate bookings were down in the 87-88 percent range, according to a research note from Bank of America analysts earlier this week.
"We are only a couple weeks away from moving out of peak leisure summer period and into the more business-heavy fall, and domestic corporate bookings have shown no improvement since mid-June," the analysts said in the note.
As COVID-19 spurred the migration of millions of employees to a work-from-home environment, some wonder if 2019 levels of business travel will ever be reached again as tools like video conferencing become commonplace.