Skift Take
Today’s podcast looks at the new CEO of Expedia Group, a strong signal from Spirit Airlines, and the environmental emissions of Taylor Swift.
Good morning from Skift. It’s Friday, February 9. Here’s what you need to know about the business of travel today.
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Episode Notes
Expedia Group will have a new CEO soon. Ariane Gorin, currently president of Expedia for Business, will succeed Peter Kern starting on May 13, writes Executive Editor Dennis Schaal.
Schaal reports Gorin will also take a seat on Expedia Group’s expanded board of directors, effective February 12. Expedia Group Chair Barry Diller said the company was looking for an internal candidate to succeed Kern. As president of Expedia for Business, the company’s business-to-business arm, Gorin was responsible for a large portion of Expedia Group’s revenue and profits.
Meanwhile, Kern will continue to serve as Expedia Group’s vice chairman and a member of its board.
Next, Spirit Airlines has experienced its share of struggles in recent years, including $1 billion worth of debt due next year. But CEO Ted Christie is refuting any talk the company could go bankrupt, writes Airlines Reporter Meghna Maharishi.
Christie expressed confidence Spirit will survive during the airline’s fourth-quarter earnings call, citing steps it’s taking to strengthen its finances. It recently netted $419 million in cash through selling and leasing back 25 aircraft. In addition, Spirit plans to make adjustments to its network, including reducing service to less lucrative destinations.
Finally, a spokesperson for Taylor Swift says she has bought double the carbon credits needed to offset emissions caused by her Eras Tour. However, it’s uncertain if carbon credits are effective in reducing emissions, writes Airlines Reporter Maharishi.
A study from the Institute of Policy Studies found a private jet emits at least 10 times more carbon emissions than a commercial jetliner. As for carbon offsets, Maharishi notes they can include replanting trees in the rainforest or introducing energy-efficient methods to struggling communities. Commercial airlines often provide customers the opportunity to buy carbon offsets when purchasing flight tickets.
But Maharishi cites research that revealed 78% of carbon reducing emissions projects could be considered “junk.”