Corporate foreign exchange news

Published by Zeb BhamThe global airline chartering industry is likely to enjoy improved growth this year as business travel money budgets are rebuilt.A new survey from London Executive Aviation reveals that 55 per cent of companies are planning to book more business jet flights this year than they did in 2009.However, Gill Upton, editor of Business Travel Magazine, explained that this will have a minimal positive impact for scheduled air carriers, as private charter companies will benefit from offering greater flexibility and price."Private jets have a larger network of airports to land in, which are usually closer to the traveller's final destination, so that's one big advantage," she said, adding that they can also cater more effectively to VIP clients.She also clarified that the upturn in business travel money budgets is likely to be driven by large corporate which can afford to charter flights for sizable numbers of travelling employees. Ford for example manages its own fleet, while many other companies opt for partial or fractional ownership options.For more information on international payments, visit our Smart FX site