Corporate travel management

Now in news that impacts the travel industry.

Corporate travel management has reached binding agreements with UK customers covering over £100 million, or 86% of the £118 million liability stemming from overcharging and accounting errors.

Under the agreements, CTM will refund £87 million, including £11 million already paid, with the remainder scheduled through September 2027.

Negotiations continue with customers representing the remaining £16 million.

The UK government accounted for much of that overcharging and confirmed it has reached an agreement with CTM to recover significant taxpayer funds.

Separately, CTM received binding offers, including £12 million connected to contractual uncertainty in several 2025 contracts.

The developments come as CTM faces a deadline to publish audited financial results to avoid potential delisting from the Australian Securities Exchange.

The TSA has ended its controversial Gold Plus airport screening initiative and will instead develop an updated version of its existing screening partnership program.