It’s not just a problem in the U.S. but Booking Holdings has been unhappy with its own brand marketing efforts.
It will require regulators to be on board before this ever makes it onto an aircraft.
Preliminary results show that room nights dropped by 12%-17% to 67-71 million in the first quarter and gross bookings were down by 38%-43% at USD 17.1-18.5 billion.
Travelers are basically giving airlines short-term loans.
Booking.com has asked its partners to arrange new dates for a future stay, a voucher for a future stay or a full refund of any prepayment or deposit.
The talks could still fall through, and Expedia could opt to raise funds another way, including in a public-debt offering, the people cautioned.
The travel industry no longer represents an opportunity for quick profits.
Effectiveness of the public-health response and government economic policy will be what determines how the industry recovers.
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