Corporate Travel Glossary

The percentage of bookings made through your managed travel program in compliance with company policy. Increased adoption rate enhances duty of care and travel spend insights.

Airfares that must be purchased in advance for the best price.

The maximum available seats on a route. Measured in part using Available Seat Miles (ASMs), which is determined by multiplying the number of available seats on an aircraft by the number of miles the aircraft travels.

How many flights an airline operates on a specific route during a specific timeframe.

The average rate of a hotel room, calculated by dividing room revenue by rooms sold.

The lowest unrestricted rate for a hotel room.

The combination of business and leisure travel.

The ability to pay for (and claim the benefits of) sustainable aviation fuel, even if this type of fuel is not available for a specific flight.

How aircraft seats are categorized, with each class representing a different tier of fares and conditions.

An agreement between multiple airlines allowing each airline to sell a single flight (operated by a single carrier within the agreement) under their own airline code and flight number.

An airline pricing strategy where carriers adjust fares based on factors like supply, demand, and traveler behavior with no booking class restrictions. Also called total dynamic pricing.

A negotiated rate between suppliers and corporations for business travel. Corporate fares are corporate rates negotiated with airlines specifically.

The responsibility of a company and its travel managers to promote the safety and success of their employees when traveling for business.

An airline pricing strategy where carriers adjust fares in real time based on a specific trip’s details, supply, and demand. This pricing strategy is limited to 26 booking classes.

A computer language used to share suppliers’ travel content through global distribution systems.

International business travel and meetings trade organization with the goal of equipping members to navigate the changing business travel landscape.

Expenses incurred during a business trip outside primary travel expenses. Examples include meals, parking, and tips.

An agreement between multiple airlines allowing one carrier to sell a flight provided by another carrier. This differs from codesharing because the flight is sold under a single airline code and flight number.

The trade association for the world’s airlines, responsible for supporting many areas of aviation activity and helping formulate industry policy.​

The price difference between crude oil and aviation fuel, which affects airfare.

The non-flying elements of a business trip, including hotel and car reservations.

A contract between a corporation and a hotel guaranteeing the hotel will sell its rooms to the corporation’s travelers at the contracted rate, regardless of how many rooms are available in the hotel.

Any booking made outside of corporate policy. These bookings make duty of care, financial reporting, and travel analysis difficult.

A metric used in the airline industry to measure the percentage of available seating capacity that has been filled with passengers. A high load factor indicates an airline has sold most of its available seats and is preferred over a low load factor.

A corporate travel program with documented policy for more strategic, more comprehensive, and safer travel.

An airline-led initiative launched by IATA for the development and market adoption of a new, XML-based data transmission standard (NDC Standard).

The flight to a traveler’s final destination when this flight occurs after a layover.

A round-trip itinerary where a traveler flies into one city and departs from another.

The suppliers travelers are either encouraged or required to book with for corporate travel. These suppliers often offer discounted corporate rates or enhanced experiences in exchange for guaranteed bookings. Generally part of a managed travel program.

Discounted airfare with restrictions such as advance purchase requirements, minimum stay requirements, or change or cancellation limits.

Alternative biofuel made from waste plant or animal material with similar properties to conventional jet fuel. SAF has the potential to drastically reduce lifecycle greenhouse gas emissions as compared to conventional jet fuel.

An airfare with no limitations.