Companies in America may be forced to impose a travel freeze if fuel prices go on rising.
Dale Eastlund, director of air solutions for Carlson Wagonlit Travel (CWT) in North America, said the crunch could come in the third quarter of the year when companies, because of rising prices, have spent their budget.
Mr Eastlund told BTE: "We are in the first quarter and corporates have all budgeted their travel costs.
“They are aware of the industry's costs and they are learning how to manage their travel, perhaps by combining trips or booking farther in advance to get less expensive tickets.
"But what we will probably see in the third quarter when all their budgets may have been eaten up is that some companies put a freeze on travel."
Mr Eastlund said that carriers in the US were already reducing capacity and frequency because of the soaring cost of jet fuel.
He said Delta Air Lines was taking out 5%-6% of its capacity from domestic routes which are not profitable.
"What this means for the corporate travellers remains to be seen," he said. But he warned that it was "incumbent” on the corporates to check such reductions did not affect any deals they had with the carrier.
He said the US carriers had been focusing on multi-fare increases in the last three to four months to try and offset the rising price of jet fuel. "They are buried in the surcharges," he said.
Airlines were also charging for extra baggage and leg room in an effort to recoup money spent on fuel.
"When Delta and Northwest Airlines came out of bankruptcy last year, oil was $70 a barrel and they thought they could be profitable. It is now more than $100."
Guillaume Bizet, CWT's director of air solutions for EMEA, said European airlines were using the surcharge to absorb the price rises.
There had so far been no case of a carrier cutting frequency because of the price of fuel.
"But if the price goes on rising, I would expect them to follow the American airlines and reduce capacity on routes which are less profitable.
"These would be domestic or European routes – not transatlantic ones. I think this is definitely possible.
"Airline executives are extremely concerned abut the price. In 2001, fuel costs were 13.6% of airlines' total costs. In 2007 it was 28%. They now represent the majority of their costs.
"They are extremely careful the price is absorbed in the surcharge. They are passing it on."
Mr Bizet said the rising costs were also making airlines much more careful about deals with corporates.
They were less willing to make deals on routes which had high load factors than they were two years ago and they were also making sure corporates reached any targets set in the deal.
"They are becoming extremely careful in offering discounts," he said.
For their part, Mr Bizet said that corporates were now looking at the full cost of a ticket, not just the net price.
"They are not only looking at the net price but also at the tax and the surcharge," Mr Bizet said.
* see BTE Analysis