U.S. in a ‘Business Recession,’ Says United CEO

United Airlines CEO Scott Kirby Monday described the U.S. economy as in a "business recession," even as consumers continue to spend heavily on travel.

"In the U.S., we’re in a business recession, and consumer is just fine — consumer is strong," he said on the sidelines of the the annual meeting of global aviation trade group the International Air Transport Association (IATA) in Istanbul.

That weakness, whether recession or not, has translated to a slower corporate travel recovery than many had anticipated, even as leisure travel surged back last year. Business travel demand at United has "plateaued," Chief Commercial Officer Andrew Nocella said Monday, at levels bette