A Note From Travelink, American Express Travel
Ride-Hailing Bumps Meals as Most-Expensed 2019 Spending Category, Says Certify
Ride-hailing services were the most-expensed business spending category in 2019, according to a new Certify report, the first time since 2015 that meals didn't top the list.
Uber ranked as the overall most-expensed vendor, according to Certify's SpendSmart Year in Review Report, which was based on more than 50 million expense transactions totaling more than $5.1 billion in spending submitted by employees of Certify's client corporations during 2019.Read More
IRS Lowers 2020 Mileage Reimbursement Rate
The U.S. Internal Revenue Service for 2020 has lowered the rate used to calculate the deductible costs of operating an automobile for business purposes. The standard mileage rates for the use of a car, van, pickup or panel truck will be 57.5 cents per mile driven, half a cent lower than in 2019.
IATA Cuts 2019 Airline Profit Forecasts but Sees Improvement in 2020
Airlines are marking their 10th consecutive year of profitability in 2019, though profits are down significantly from earlier forecasts due to stunted economic growth, according to a forecast from the International Air Transport Association.
Global air demand grew 3.8 percent year over year for September, according to the International Air Transport Association, outpacing global capacity, which rose 3.3 percent year over year. Load factor climbed 0.4 percentage point to 81.9 percent, which was a record for the month. Even so, IATA executives said September fell short of the industry's long-run average growth rate of 5.5 percent.Read More