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Good morning from Skift. It’s Friday, December 6, 2024. Here’s what you need to know about the business of travel today.
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Episode Notes
This year has been big for travel, with major events and experiences — like concerts and sports championships — acting as driving forces. Skift CEO Rafat Ali calls this phenomenon Live Tourism. He says technology, urbanization and a strong desire for connection to others are boosting this trend.
Ali notes how live tourism can spur economic growth, helping local eateries and retailers, along with airlines and hotels. Events also add a sense of urgency to visit destinations, pushing host destinations to the top of travelers’ lists.
Cities have a lot to gain. New York City and Las Vegas already have large event venues. Paris and Barcelona used the Olympics as an opportunity to show off to visitors.
Next, Southwest is getting back on track after a year filled with activist investor pressure. In a new regulatory filing, the company upped its revenue guidance, writes Airlines Editor Gordon Smith.
Southwest predicts unit revenues will rise between about 5.5% and 7% in the fourth quarter, a jump from its earlier estimate of 3.5% to 5.5%.
Why the change? The company cited “resilient travel demand” and efficiency measures as key factors. And Southwest isn’t the only company expecting a boost — JetBlue also increased its revenue guidance due to a rise in bookings.
Finally, a federal judge struck down Boeing’s plea deal addressing crashes related to the 737 Max over a diversity consideration, explains Airline Reporter Meghna Maharishi.
Boeing previously agreed upon a plea deal with the Justice Department that would require the company to install an independent monitor to oversee compliance and safety. U.S. District judge Reed O’Connor in Texas rejected the deal due to concerns about how this monitor would be selected, writing the Court isn’t convinced the government will avoid “race-based considerations” in its decision.
He said the federal government wasn’t sure how to apply this provision. Now, Boeing and the Justice Department have 30 days to figure out what’s next.
