Third-quarter global corporate travel sales at American Express dropped 9 percent from a year earlier, - Business Travel News

Share this page

Business Travel Supplier Directory

Text size: A A A

NewsLog
RSS

October 18, 2012 - 06:55 AM ET

Third-quarter global corporate travel sales at American Express dropped 9 percent from a year earlier, to $4.4 billion. Those sales were down for the third consecutive quarter and ran counter to an 8 percent increase in Amex's U.S. consumer travel spending. "We are seeing lower T&E spending compared to other categories, pretty broadly," said CFO Dan Henry during a Wednesday conference call with analysts. "We see large corporations in particular being a little bit conservative here." Amex also reported moderating growth in cardholder spending, which increased 8 percent in the United States and 6 percent globally. Overall, the company's third-quarter net income rose 1 percent to $1.25 billion, "driven by higher revenues and lower expenses."

This page is protected by Copyright laws. Do Not Copy. Purchase Reprint

Leave your comment:

Comments

blog comments powered by Disqus
Related NewsLog
Former Ikea global travel purchaser Yves Galimidi has joined TCG Consulting as European engagement manager,... read more »
GlobalStar Travel Management added as a partner Singapore's Corporate Travel Services.... read more »
ECommission Solutions named its first chief technology officer and hired GDSX veteran Damar Christopher to serve as vice president of client services.... read more »
CWT Meetings & Events U.K. and Ireland named Julie Norburn commercial director, effective later this month.... read more »
BCD Travel on Wednesday announced the promotion of David Coppens to the newly created position of executive vice president for global operations.... read more »
Travel agency veteran Kerin McKinnon joined AmTrav as vice president of strategic sales.... read more »
Travel management consulting firms GoldSpring Consulting and Partnership Travel Consulting announced "a strategic partnership."... read more »
South African Airways signed up to use Travelport's Rich Content and Branding merchandizing technology,... read more »
CWT and Amex vet Andrew Winterton joined Certares,... read more »
American Express Global Business Travel named long-time Amadeus executive Philippe Chérèque its new chief technology officer.... read more »
Travelport and Alitalia renewed a "multiyear" full-content agreement,... read more »