FT News Briefing Optimism soars on the airline industry’s recovery
Aug 3, 2021
The podcast discusses the hopeful resurgence of the airline industry as vaccination rates rise and domestic travel picks up. It delves into the impact of climate change on carbon offset projects, particularly concerning forests crucial for corporate offsets. There's a closer look at the financial challenges airlines face and how virtual conferencing is reshaping business travel. Finally, the implications of El Salvador's potential Bitcoin use as legal tender are explored amidst warnings from the IMF.
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Wildfires and Carbon Offsets
- Wildfires threaten corporate carbon offsetting plans by burning forests purchased to neutralize emissions.
- Microsoft and BP face this issue, highlighting the vulnerability of offsetting projects to climate change.
Goldman Sachs Asset Management
- Goldman Sachs plans to scale back its own investments by almost 20% in its asset management business.
- They aim to increase client-based fees and appease investors and regulators, boosting stock prices and lowering capital demands.
Airline Industry Losses
- The airline industry suffered huge losses, around $125 billion in 2020 and a projected $50 billion in 2021.
- This is largely due to the pandemic and resulting travel restrictions, impacting profitability.