American Express Global Business Travel (GBT) said a business travel recovery is well underway and is gaining momentum, with transactions reaching 51% of 2019 levels in the last week of February, according to a fourth quarter report. Paul Abbott, CEO, said 2021 was a transformational year for the company, with the acquisition of Ovation Travel Group and Egencia and the launch of new, innovative travel and expense software solutions. The company plans to go public this year as part of a deal with Apollo Strategic Growth Capital. Abbott said the company ended 2021 on a high note despite Omicron, with financial results for the full year well ahead of forecasts, driven by a 119% increase in fourth quarter revenues and efficiencies from continued cost discipline. For the year, GBT lost $474 million compared with a loss of $619 million in 2020. Looking ahead, said Abbott, the company is uniquely positioned to lead and benefit from the industry’s continued recovery and long-term growth. “We expect our pending business combination with Apollo Strategic Growth Capital,” he said, “to provide access to the capital required to continue to innovate and grow.”