What Changes in 2021? w/Ben Baldanza

What can we expect from the airlines in 2021? How will they change and what will drive their business? In this episode, economist and former CEO of Spirit Airlines, Ben Baldanza shares the changes we’ll need to make as an industry.    "Everybody will have to adjust their business model in some way, shape, or form." -Ben Baldanza Three Things You’ll Learn In This Episode    How a decrease in business travel will impact the industry:  As fewer corporate travelers take to the skies, many airlines will need to adapt their strategies and start making space for more lower-cost options. This will impact the existing low-cost carriers, who will be forced to compete in a different manner.   What less business travel means for wide-body producers:  With corporate travelers flying less frequently internationally, the need for widebody aircraft will be reduced. This will affect Boeing and Airbus production rates significantly but it’s not all doom and gloom. There will be opportunities elsewhere.   Where the opportunities lie going forward:  Despite the challenges, there is still opportunity for growth in our business. It’s just time to shift our focus into how we’ll make all our passengers feel comfortable throughout the travel experience.   Guest Bio -  Ben Baldanza is the CEO of Diemacher, LLC, an Independent Board Director at JetBlue Airways, and former CEO and President of Spirit Airlines. A Forbes Contributor and co-host of the Airlines Confidential Podcast, Ben is an economist and currently serves as an Adjunct Professor of Economics at George Mason University. Ben is an industry veteran and has been featured on multiple platforms including CNBC, Fox Business News, and The Today Show among others.    To find out more, go to: https://www.linkedin.com/in/b-ben-baldanza https://www.forbes.com/sites/benbaldanza/ https://diemacherllc.com/about https://airlinesconfidential.com/ Learn More About Your Host:   Co-founder and Managing Partner for Northstar Group, Craig is focused on recruiting senior-level leadership, sales, and operations executives for some of the most prominent companies in the aviation and aerospace industry. Clients include well-known aircraft OEM’s, aircraft operators, leasing / financial organizations, and Maintenance / Repair / Overhaul (MRO) providers.    Since 2009 Craig has personally concluded more than 150 executive searches in a variety of disciplines. As the only executive recruiter who has flown airplanes, sold airplanes, AND run a business, Craig is uniquely positioned to build deep, lasting relationships with both executives and the boards and stakeholders they serve. This allows him to use a detailed, disciplined process that does more than pair the ideal candidate with the perfect opportunity, and hit the business goals of the companies he serves.