In today’s podcast from Skift, the focus is on a corporate travel mega merger, Boeing’s C-suite shakeup, and Booking.com’s sustainability program. Amex GBT announced plans to acquire CWT for $570 million, combining two of the world’s largest corporate travel agencies. The deal is seen as a key part of Amex GBT’s growth strategy, with CEO Paul Abbott highlighting the potential for increased revenue and strengthened areas within the company. The acquisition is expected to bring about savings of $155 million within three years.
Boeing’s senior leadership team is undergoing significant changes, with CEO Dave Calhoun announcing his departure at the end of the year. Additionally, Commercial Airplanes Division CEO Stan Deal is retiring and board chair Larry Kellner will not seek re-election. These changes come amid a challenging start to 2024 for Boeing, including recent incidents such as a blowout on an Alaska Airlines flight. The company has faced criticism from major airline CEOs and the U.S. government in recent weeks.
Booking.com has decided to end its “Travel Sustainable” program, which highlighted properties believed to excel in sustainability. Dutch regulators raised concerns about the program, suggesting that the green leaves awarded to properties may have been potentially misleading. Booking.com reported that over 100,000 properties on its site had received the Travel Sustainable badge, but Dutch officials noted that there may have been sustainable practices that went unrecognized.
The acquisition of CWT by Amex GBT is expected to create a combined company with revenue of at least $3 billion, with a focus on strengthening various industries such as media, entertainment, and sports. The deal is part of Amex GBT’s strategy to expand and grow its presence in the corporate travel sector. The merger is also expected to deliver cost savings of $155 million over the next few years, further enhancing the company’s financial performance.
Boeing’s leadership changes, including CEO Calhoun’s upcoming departure, signal a major shift within the company as it navigates challenges in the aviation industry. The decision to restructure senior positions comes as Boeing faces increased scrutiny and criticism from both industry stakeholders and government officials. The shakeup is aimed at revitalizing the company’s operations and addressing key issues affecting its reputation and performance.
In light of concerns raised by Dutch regulators, Booking.com has decided to discontinue its Travel Sustainable program, which aimed to recognize properties for their sustainable practices. The move comes as a response to potential misinterpretations of the badge system used to award properties, with officials noting that some sustainable efforts may have been overlooked. Booking.com’s decision highlights the importance of transparency and accuracy in sustainability initiatives within the travel industry.
