Travelport, a services firm owned by Blackstone Group LP, sees no major impact on travel as a result of an economic slowdown, its president and chief executive said on Tuesday.
Travel does respond to changes in economic growth, but price cuts have helped maintain volumes, Jeff Clarke, Travelport's President and Chief Executive Officer, told Reuters in Davos.
"As an intermediary in the industry we get paid primarily on the transaction," he said. "Consumers tend to be very price elastic and so, when prices go down, more consumers travel."
"We've seen some decreases in prices and that has increased certain volumes. So we have not seen a material slowdown in travel yet."
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Source - Guardian
