Wheels, Inc.: Business Travelers Hit the Road
DES PLAINES, Ill.--Nov. 1, 2001--Many business travelers are getting a different view when they look out the window these days. In the aftermath of the Sept. 11 World Trade Center attack, 50 percent of Fortune 500 companies surveyed indicate they have adjusted their travel policies, and most of those are restricting air travel and many are encouraging auto travel where practical.
Conducted by Wheels, Inc., a leading fleet management company, the informal survey of 34 major corporations shows that half have adjusted their company business travel policies since Sept. 11. Of those, 14 have restricted air travel and six have strongly encouraged business travelers to enjoy the view from their car instead of the birds-eye view from an airplane.
"The business rule of thumb used to be if a trip could be completed by car in five hours or less, you drove," said Joe McDonald, director of account management for Wheels. "We used to figure that five hours was the break-even point when you consider the time to commute to the airport, waiting to board, flying, picking up luggage and rental car, and driving to the destination. And that was before security lines at airports got quite so long."
Among the popular business routes that fall within the five-hour margin are New York to Washington, D.C., Chicago to St. Louis, Chicago to Detroit, Dallas to Houston, Dallas to San Antonio, Philadelphia to Pittsburgh, Atlanta to Charlotte and Newark to Richmond.
"It is generally less expensive to drive when you follow this five-hour margin," McDonald said, noting that the cost to drive averages 32.5 cents per mile. "In some cases, it is quite a bit more expensive to fly." Examples he noted include:
| - | New York to Washington, D.C. - $227 to fly and about $75 to drive |
| - | Atlanta to Charlotte - $511 to fly and about $80 to drive |
Of the 34 Fortune 500 executives surveyed by Wheels, more than one-third (12) have personally decided not to fly since Sept. 11. Of the respondents from the 17 companies that did not restrict air travel, five said they have elected not to fly.
Of those who decided against flying, 66 percent drove instead - with more than one-third of those (38.5 percent) driving on trips of 250- miles or more. The same 66 percent chose to handle some business by conference call, and 25 percent cancelled meetings.
Among those who decided not to fly, 83 percent said they made the decision for security reasons.
Wheels, Inc., which pioneered the concept of auto leasing in 1939, provides a full range of specialized services to help corporations manage their vehicle fleets. Wheels, which has 550 employees, leases more than 195,000 vehicles and manages more than 240,000 vehicles. Its holding company, Frank Consolidated Enterprises, currently ranks as one of the largest private companies in the United States with more than $1 billion in sales. Wheels, Inc. is accessible on the World Wide Web at www.wheels.com.