Second-quarter transactions for American Express Global Business Travel recovered to 69 percent of 2019 levels, representing $6.5 billion of total value, and revenue recovered to 65 percent of pre-pandemic levels at $486 million, the travel management company reported in an earnings call.
The transaction recovery, which takes into consideration Amex GBT’s acquisitions of Egencia and Ovation Travel Group, marked an improvement of 22 percentage points of recovery levels from the first quarter. By June, transactions had recovered to 76 percent of 2019 levels. For small and midsize clients, transactions in the month of June reached 84 percent of 2019 levels, according to the company.
That improvement has the TMC better positioned to meet continued growing demand in coming months, CEO Paul Abbott said in an earnings call, Amex GBT’s first since it began trading as a public company.
“The sharp rise that we saw in the second quarter in terms of the return of business travel certainly…
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