November 1, 2008
Expedia stock down as travel industry suffers
Well the economy is definitely hurting the travel industry, and Expedia's earnings are down as a result. This article adds a few interesting bits of information:
Future bookings suggest the market will keep contracting (Chief Financial Officer Michael Adler).
It's a difficult environment.... Any predictions about its depth or duration would be foolish (Chief Executive Officer Dara Khosrowshahi).
Expedia expects air fares to increase in 2009, the first time the industry has seen higher ticket prices during a recession (Chief Financial Officer Michael Adler).
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What a surprise. Raise the price and drive families away, instead of lowering it a dollar to try and get and extra person or 2 to buy a ticket.
Look at their year end profits, they are not hurting !
Posted by: Diane at November 2, 2008 5:33 AMActually, Diane, if you look at the year end profits, they ARE hurting. The airlines have lost millions this year, and things are really not looking much better for them. Not that I excuse them - when an airline like Southwest is doing just fine, because they planned ahead, and planned pricing accordingly. But as a travel agent, I can tell you prices are definitely going up all the time, and it doesn't look to be getting any better any time soon.
Posted by: Linda Bator at November 4, 2008 12:52 AMExpedia is nothing else than a very succesful scam.Source: http://www.victimsofexpedia.com
Posted by: John at November 19, 2008 8:52 AM