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
If you use your state-issued driver’s license to pass through airport security, you have 11 months to confirm or secure that you have one with the REAL ID gold star in a circle designation that will be required as of Oct. 1, 2020. Air travelers also will be able to use passports as identification for TSA. However, as many rely on state-issued licenses, the federal government’s Department of Homeland Security and Transportation Security Administration are making a push to ensure that all travelers have acceptable identification so as not to be denied access to a flight next year.Read More
Global air passenger demand rose 3.6 percent year over year in July, according to the International Air Transport Association. In recent months, air traffic has been growing at a slower pace, and that continued in July, IATA noted. Capacity climbed 3.2 percent year over year, making July the third consecutive month in which capacity has grown slower than demand.