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Travel industry could see “new normal” post-pandemic

Illustration: Aïda Amer/Axios

Business travel could settle into a "new normal" that's 10%-20% lower than before the COVID-19 pandemic, Delta Air Lines CEO Ed Bastian recently suggested per AP.

What they're saying: With the coronavirus pandemic still raging, demand for flights has dwindled. Southwest Airlines CEO Gary Kelly told AP that overall passenger revenue is down 70%. Business travel — normally more than a third of Southwest's traffic — is off by 90%.

The big picture: The pandemic has proven that working from home can be a viable option, which may reduce business travel even after the global outbreak is over.

  • TSA screenings on Tuesday were one-third of what they were the same day in 2019 — 800,000 vs. 2.5 million.

Go deeper

Axios
Dec 29, 2020 - World

WHO urges vaccinated travelers to keep taking coronavirus precautions

American soldiers line up to receive the first COVID-19 vaccines at the Brian D. Allgood Army Community Hospital, U.S. Army Garrison Humphreys, in Pyeongtaek, South Korea, on Tuesday. Photo: United States Forces Korea via Getty Images

World Health Organization chief scientist Soumya Swaminathan told a virtual briefing Monday people who've been vaccinated for COVID-19 "need to take the same precautions" as those who haven't "till there's a certain level of herd immunity."

Driving the news: Swaminathan was asked whether international travel without quarantine would be possible after mass coronavirus vaccinations. "I don't believe we have the evidence on any of the vaccines to be confident that it's going to prevent people from actually getting the infection and therefore being able to pass it on," she said.

Go deeper (1 min. read)Arrow
Dion Rabouin, author of Markets
31 mins ago - Economy & Business

The digital dollar is now high priority for the Fed

Illustration: Aïda Amer/Axios

The U.S. is starting to get serious about a central-bank-backed digital currency, with recent comments from top officials laying out the strongest support yet.

Driving the news: On Tuesday Fed chair Jerome Powell told Congress that developing a digital dollar is a "high priority project for us," but added that there are "significant technical and policy questions."

Go deeper (1 min. read)Arrow
Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

Coinbase files to go public

Illustration: Eniola Odetunde/Axios

Cryptocurrency exchange Coinbase on Thursday filed to go public via a $1 billion direct listing.

Why it matters: This comes in the midst of a crypto boom, and the listing may further legitimize the industry.

Go deeper (<1 min. read)Arrow