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Business class of an American Airlines flight, 2018. Photo: Jeff Greenberg via Getty Images

In an interview with Axios on Monday, Booking.com CEO Glenn Fogel said he believes "the share of business travel will be forever lower than pre-pandemic."

Why it matters: Business travel has an outsized impact on parts of the travel and leisure industry, which is in the midst of adapting to post-pandemic demand.

  • For example, only about 12% of air travel comes from business passengers, but they represent 75% of an airline's profits, according to travel software provider Trondent.

What's happening: Booking.com introduced a new $50 credit for future travel as an incentive to help drive demand for leisure trips — a segment that is expected to pick up faster than business travel.

  • "We need to help get this industry back up and running, traveling safely," Fogel said.

The big picture: The CDC issued new guidelines on Friday for U.S. domestic travel as the number of people who have been fully vaccinated climbs to near 20%.

Thought bubble from Axios transportation correspondent Joann Muller: There are unmistakable signs of pent-up demand for leisure travelers, but business travel is likely going to take much longer to recover, in part because companies are still trying to figure out what return-to-work looks like.

  • It will be easy to replace some corporate travel with virtual Zoom meetings, but when it comes to things like sales, where competition is intense and it’s important to "read the room," travel will become a necessity once more.

Go deeper

CDC guidance says cruise ships won't need to mandate vaccines

Photo: Jane Tyska/Digital First Media/East Bay Times via Getty Images

The Centers for Disease Control and Prevention said Monday that while it recommends all staff and travelers aboard cruise ships be vaccinated for COVID-19, cruise companies do not need to mandate vaccines in order to resume travel safely.

Why it matters: Cruise ships were some of the first super-spreader sites for the coronavirus in 2020 and have been docked ever since.

Super typhoon Surigae explodes to Cat. 5 intensity

Super Typhoon Surigae seen on satellite imagery Saturday morning east of the Philippines. (CIRA/RAMMB)

Super Typhoon Surigae surged in intensity from a Category 1 storm on Friday to a beastly Category 5 monster on Saturday, with maximum sustained winds estimated at 190 mph with higher gusts.

Why it matters: This storm — known as Typhoon Bising in the Philippines — is just the latest of many tropical cyclones to undergo a process known as rapid intensification, a feat that studies show is becoming more common due to climate change. It weakened slightly, to the equivalent of a strong Category 4 storm, on Sunday.

4 hours ago - World

Biden adviser warns "there will be consequences" for Russia if Navalny dies

The Biden administration warned the Russian government "that there will be consequences" if jailed Russian opposition leader Alexei Navalny dies, National Security Adviser Jake Sullivan told CNN on Sunday.

The big picture: Sullivan also defended President Biden for not mentioning Navalny in a Thursday speech about Russia or in a Tuesday call with Russian President Vladimir Putin, saying the White House aims to deal with the issue "privately and through diplomatic channels."