Before the pandemic hit in 2020, corporate travel was the travel industry's cash cow.
Investors in travel companies are concerned that the spending from vacationers cannot make up the shortfall.
For months, Alaska Air's (ALK.N) business bookings have been 25% below pre-pandemic levels.
JetBlue Airways (JBLU.O) said on Tuesday it will redeploy capacity away from New York to high-margin leisure destinations with business travel demand 20% below pre-pandemic levels.
Recent passenger screening and fare data shows U.S. travel demand has peaked, hurting the carriers' pricing power.
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