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As the coronavirus spread globally, a canceled work trip here and there turned into a worldwide shutdown for business travel by air.The global airline industry is now on the brink of collapse. And while pressing pause for a few days or a week is strange enough, a freeze on business-class travel that lasts for several weeks or months has the potential to reshape why people fly. After a decade of huge growth, airlines are preparing for a staggering drop in revenue worldwide. Concerns over the coronavirus have crippled demand for flights, which in turn has caused many airlines to ground their fleets and lay-off staff.Recently JetBlue CEO Robin Hayes called this financial situation for airlines, "at least as bad as 9/11 if not worse."But even with a bailout, it could take months for travelers to fully return to the skies. In the meantime, a lot of business will go on without air travel.With huge advances in telecommuting and a growing acceptance of working from home, businesses have taken to platforms like Slack, Zoom and Skype to carry on with meetings while many miles apart.To understand the impact of losing business class travel, you have to understand how valuable business class tickets are to airlines. It might just be a few seats, but on many flights, premium seats actually account for most of the money the flight will make. Let's explain.Let’s look at a roundtrip flight scheduled for the first week in August between JFK and LAX. The round trip fare for an economy passenger costs 9. For a business class passenger that seat is ,867. And finally for a first class passenger the cost is ,032. In total, if everyone pays full price for their ticket, the airline makes ,362.But notice the distribution. If you do the math, you see that although business and first class travelers only make up 28% of the passengers on the flight, they account for 60% of the flight's revenue. This model doesn't describe every flight. But when it comes to airline economics, business and first class passengers have an outsized impact on many airlines' revenue. "They care a lot about business class travelers," says airline pricing expert Andy Boyd. "The other part about the business class travelers is not just the seat but business travelers become very connected with their brand and they fly a lot. It’s not just the money they make from the one seat, but what they get over time."Boyd literally wrote the book on airline ticket pricing. He believes airlines could bounce back, but he also says the virus could accelerate some trends already in motion for business travel."It could be a catalyst," Boyd says. "But what is really interesting, the new generation has grown up with technology, with cell phones. The fact that you are doing what many older people would call, very informal communication is more and more accepted as formal communication. So as young people who have grown up with technology get older, they may find that they are just as happy doing things over the phone as they are getting on a plane and going somewhere."Those combined factors could spell long-term impacts for the airline industry beyond the spread of the coronavirus. "Normally I would tend to say we would just get over it and the world would just get back to normal," Boyd says. "But with this particular virus and the way that people have responded to it, we may see some actual real changes to the way that both business and economy travelers travel." 3474

Auto workers at Fiat Chrysler have ratified a new four-year contract, closing the door on the possibility of another strike like the one that shut down rival General Motors for six weeks.The United Auto Workers union said that 71% of members at Fiat Chrysler voted for the contract. It was a much easier vote than four years ago when membership voted against the initial contract proposal brought to them for a vote.The 432

ANN ARBOR, Mich. – The University of Michigan has placed Provost and Executive Vice President for Academic Affairs Martin A. Philbert on administrative leave pending the results of an internal investigation into 224

Boeing said Tuesday that it found debris contaminating the fuel tanks of some 737 Max jets that it built in the past year but was unable to deliver to airline customers.A Boeing official said the debris was discovered in “several” planes but did not give a precise number. Boeing built about 400 undelivered Max jets before it temporarily halted production last month.The fuel tank debris was discovered during maintenance on parked planes, and Boeing said it immediately made corrections in its production system to prevent a recurrence. Those steps include more inspections before fuel tanks are sealed.A Boeing spokesman said that the issue would not change the company’s belief that the Federal Aviation Administration will certify the plane to fly again this summer.An FAA spokesman said the agency knows that Boeing is conducting a voluntary inspection of undelivered Max planes.The FAA “increased its surveillance based on initial inspection reports and will take further action based on the findings,” said spokesman Lynn Lunsford.Metal shavings, tools and other objects left in planes during assembly can raise the risk of electrical short-circuiting and fires.Mark Jenks, Boeing’s general manager of the 737 program, said in a memo to employees who work on the 737, “During these challenging times, our customers and the flying public are counting on us to do our best work each and every day.” Jenks called the debris “absolutely unacceptable. One escape is one too many.”The debris issue was first reported by aviation news site Leehamnews.com.Max jets were grounded around the world last March after two crashes killed 346 people. Boeing is conducting test flights to assess updates to a flight-control system that activated before the crashes on faulty signals from sensors outside the plane, pushing the noses of the aircraft down and triggering spirals that pilots were unable to stop.While investigators examining the Max accidents have not pointed to production problems at the assembly plant near Seattle, Boeing has faced concerns about debris left in other finished planes including the 787 Dreamliner, which is built in South Carolina. 2169

Britain's exit from the European Union will happen and should happen, President Donald Trump said Tuesday during a news conference alongside outgoing UK Prime Minister Theresa May.Praising his British counterpart as doing a good job in handling Brexit, Trump said the planned divorce would be good for the UK."It wants to have its own borders. It wants to run its own affairs. This is a very, very special place, and I think it deserves a special place," Trump said.The President also described a pair of British politicians as "negative."Asked about Labour Party leader Jeremy Corbyn, Trump at first seemed to misunderstand, launching into an attack on London Mayor Sadiq Khan.Trump said the London mayor "should be positive, not negative.""He's a negative force, not a positive force," Trump said. "I think he should focus on his job."Asked again to respond to Corbyn, who spoke at a demonstration earlier in the day, Trump said he declined a meeting request from the opposition leader."He wanted to meet today or tomorrow," Trump said. "I decided I would not do that."He said he believed Corbyn to be "somewhat of a negative force."Trump is visiting Whitehall at a difficult moment. May is stepping down as head of her party at the end of the week, entering a lame duck period as the conservatives select a new leader. In some ways, her talks with Trump will be purely symbolic since she'll soon hand over her myriad troubles, principally the Brexit matter, to a successor.But White House and British officials have maintained the talks will be substantive, given the general continuity in UK foreign policy between prime ministers and the long list of shared concerns between the two countries.That includes Iran, which the UK still hopes will adhere to the Obama-era nuclear deal that Trump scrapped, and the Chinese telecom giant Huawei, which the US is working to prevent from establishing 5G networks in Europe and elsewhere.However much Trump has warmed to May, he's been far warmer toward two of her vocal critics: Boris Johnson, a former mayor of London who once served in May's cabinet before resigning in protest; and Nigel Farage, a Brexit campaigner who makes semi-regular appearances on Fox News.Trump phoned Johnson on Tuesday and offered a one-to-one meeting with the former London mayor, a British official told CNN's Pamela Brown.The 20-minute phone call was friendly and productive, the official said.Johnson thanked the President for the invitation, but declined the meeting to focus on a political event that was happening at the same time, the official said. The President understood.Johnson, a contender to replace May as prime minister, said he looked forward to catching up at a later date.A day of stately ceremony and ungenerous feuding behind him, Trump moved on to the business of transatlantic diplomacy on Tuesday with meetings focused on trade, security and Britain's pained exit from the European Union.Trump's royal engagements with Queen Elizabeth II, the centerpiece of his state visit here, are over, and for a short span midday his host will be the beleaguered Prime Minister Theresa May, with whom he will sit for group talks alongside other aides before convening a joint news conference.Trump and May started the day jointly hosting a breakfast of business chiefs at the Tudor-era St. James's Palace, joined by the President's daughter and senior adviser Ivanka Trump and a dozen or so executives from American and British firms.At the start of the session, Trump said it had been an "honor" working with his British counterpart and joked she should delay her departure as prime minister until a new trade deal is struck."It's an honor to have worked with you," Trump told May. "Stick around. Let's do this deal."The US President will later tour the underground warren of rooms from which Winston Churchill ran his war efforts, a paean to a British leader Trump has long revered and hoped to emulate, at least in photographs.Instead of taking his armored motorcade from point to point in London this week, Trump has relied on his Marine One helicopter -- even for short distances -- avoiding protests on the city's streets. London Mayor Sadiq Khan, who Trump insulted on Twitter as he was landing at Stansted Airport on Monday, has allowed demonstrators to fly a giant balloon depicting Trump as a baby in a diaper.Only small gatherings materialized on Monday, but larger protests were expected on Tuesday. The Labour leader Jeremy Corbyn was expected to address one of the demonstrations.Watch the full press conference below: 4582